News & Analysis Archive

Empty Space Haunts Fifth Avenue as Retailers Balk at Rent Hikes

NEW YORK, United States — Landlords on Manhattan’s Fifth Avenue are sitting on a record amount of open space as retailers balk at committing to expensive new leases in one of the world’s most prestigious shopping districts. The availability rate on the famed strip, home to Saks Fifth Avenue and Tiffany & Co.’s flagship store, jumped to 15.9 percent in the third quarter, up from …

Renzo Rosso's OTB Acquires Majority Stake in Paula Cademartori

BREGANZE, Italy — Only The Brave, the family investment arm of Diesel founder Renzo Rosso, has announced that it has acquired a majority stake in Italian-Brazilian fashion brand Paula Cademartori. The designer, who was new to the BoF500 this year, is known for her colourful collections of accessories including bags and shoes, which are worn by the likes of Beyoncé, Lady Gaga and Jessica Alba. …

Kering Results Show 17% Surge at Gucci, Slip at Bottega Veneta

PARIS, France — Italian fashion brand Gucci confirmed its turnaround with a 17 percent rise in third-quarter comparable sales, helping make up for a 10.9 percent sales drop at sister brand Bottega Veneta, parent Kering said on Tuesday. Gucci, in double digit sales growth territory for the first time since 2012, accounts for more than 60 percent of Kering’s operating profit. Analysts had expected its …

British Fashion Council Announces Nominees for The Fashion Awards 2016

LOS ANGELES, United States — Jonathan Anderson, Alessandro Michele and Christopher Kane have all been nominated in multiple categories for The Fashion Awards 2016. Dame Natalie Massenet, chairman of the British Fashion Council, announced the nominations during a brunch at Soho House West Hollywood, alongside Karlie Kloss, ambassador for the event’s lead partner Swarovski, and Caroline Rush, BFC chief executive officer. Roksanda Illincic, Simone Rocha and Sarah Burton for Alexander McQueen …

Luxottica Sales Soar as Ray-Ban Maker Forecasts Revenue Growth

MILAN, Italy — Luxottica Group SpA gained the most in more than seven years after the maker of Ray-Ban sunglasses said sales growth will accelerate in 2017. Revenue will probably rise by a mid-single-digit percentage next year, chief financial officer Stefano Grassi said on a call with analysts Monday. Third-quarter sales rose 3.5 percent at constant exchange rates, the Milan-based company also said. The stock rose as much …

BoF Exclusive | Estée Lauder Buys Becca Cosmetics

NEW YORK, United States – The Estée Lauder Companies, Inc., the American beauty conglomerate that owns brands like Clinique, Bobbi Brown and MAC, has signed an agreement to acquire Becca Cosmetics from beauty incubator Luxury Brand Partners. The terms of the deal were not disclosed, although industry sources suggest the conglomerate paid around $200 million for the business, which was founded in 2001 and is set …

Luxury For Less: Tourists Are Winners in Pound's Drop

LONDON, United Kingdom — Would you travel halfway around the world for a handbag, or a coat? Maybe if you really loved it — and could get 20 percent off. At the moment, the price is right in Britain, where the decision to leave the European Union has led to a sharp drop in the pound. That’s proving a bonanza for luxury goods shoppers with …

Richard Nicoll, 1977—2016

LONDON, United Kingdom — The designer Richard Nicoll passed away early this morning in Sydney, Australia. He was 39 years old. For many years, the designer, who grew up in Australia but was based in London, was a regular at London Fashion Week and was well-loved within the London fashion community. “It is with great sadness that we confirm that Richard Nicoll passed away unexpectedly this morning …

Watch Out Wal-Mart. Amazon Is Coming After the Grocery Business

SEATTLE, United States — For years, Wal-Mart Stores Inc. has followed Amazon.com Inc., putting inventory online and starting its own version of a marketplace where third-party merchants can sell their wares. Now Amazon is returning the favour. The e-commerce behemoth is building pickup locations for groceries in Seattle that could open by the end of the year, according to someone familiar with the plans, echoing a …

BoF Exclusive | Marni Names Francesco Risso Creative Director

MILAN, Italy — BoF can exclusively reveal that Marni has appointed Francesco Risso as its new creative director, as founder Consuelo Castiglioni steps down after more than 20 years. It was widely rumoured during Milan Fashion Week that the Spring/Summer 2017 collection would be Castiglioni’s last at Marni. Her departure was confirmed this morning. Castiglioni’s decision to step down was personal, she said in a statement. …