The Italian eyewear group has bought a 70% stake in Blenders Eyewear LLC from Chase Fisher, who founded the company in 2012 and remains as CEO with a 30% interest. The company’s full valuation was $90 million.
Car maker BMW has inked a five-year licence deal with the eyewear group starting on January 1 2020, for the design, production and distribution of eyeglasses and sunglasses for the BMW, BMW M and BMW M Motorsport lines.
In the midst of restructuring, Calvin Klein has called in a bevy of influencers, including the Biebers, Kendall Jenner and rapper A$AP Rocky for the launch of CK50, a capsule celebrating the brand's 50th anniversary.
Swiss watchmaker Swatch Group will no longer make watches and jewellery under the Calvin Klein brand, reducing its exposure to a price segment that is under pressure from smartwatches and other fashion watches.
Louis Vuitton owner LVMH on Wednesday reported better-than-expected revenue growth for the third quarter, in spite of months of unrest in Hong Kong that have put off tourists and forced luxury labels to shut stores.
Luxury brands from Prada to Cartier are counting the cost to their businesses of four months of unrest in Hong Kong that has kept tourists away and forced shops to shut, with upcoming results set to show the damage.
Months of increasingly violent protests in Hong Kong are taking a growing toll on the city's economy, weighing on confidence and scaring away tourists from one of the world's most vibrant shopping destinations.