Kering Thursday confirmed that French authorities opened an inquiry into Kering’s taxes in February 2019, but continued to refute allegations of fraud, following a report published by the investigative from Mediapart. Kering had not been previously informed of this inquiry, the French luxury group said.
The inquiry appears to be linked to the potential consequences for Kering French companies resulting from legal proceedings initiated in November 2017 involving LGI, the Group’s Swiss subsidiary. Those proceedings resulted in a 1.25 billion euro settlement between Gucci and Italian tax authorities in May 2019.
Kering refutes in the strongest possible terms the allegations contained in the press article and forwarded by other media. The preliminary inquiry was opened by France’s Parquet National Financier, the country’s financial public prosecutor’s office. Continue reading
On Monday, Adidas, which owns Reebok, publicly confirmed rumors that it was exploring options for the brand. Reports have been circulating for months that the German activewear company was looking to sell the brand, which it acquired in 2006 for $3.8 billion. Last year, it reportedly wrote the value of the brand down to just under $1 billion.
It was more than a year ago that Shaquille O’Neal publicly revealed that he would “love to buy” Reebok, a brand that he had served as an ambassador for back in his NBA playing days in the Nineties. And his partnership with the deep-pocketed Authentic Brands Group could potentially make his wish a reality. Continue reading
The British designer will present a couture collection for the Rome-based luxury house in Paris. In September, when Jones was named Fendi’s artistic director of couture and women’s wear collections, the Rome-based luxury house said his first collection would bow in February.
Silvia Venturini Fendi, artistic director of accessories and men’s wear collections, and her daughter Delfina Delettrez Fendi, jewelry creative director, will also be involved in designing the couture collection.
Whether the show will accommodate guests is still to be defined, given the uncertainties related to the COVID-19 pandemic and the possible restrictions to be enforced by the French government, but the collection will once again be presented at Palais Brongniart,the temple of the stock exchange formerly in Paris, a sign perhaps Continue reading
Karl Lagerfeld Adds a Black-tie Touch to Lingerie with Aubade, A dawn from beyond the grave.
The brand is collaborating with Aubade Paris for a fall 2021 capsule of lingerie and corsetry. “Leave it to Karl Lagerfeld to narrow the gap between a tuxedo and a lingerie set along with a wink to the Chippendales.
A clip-on collar and black waist-cinchers with satin buttons are all part of the brand’s latest surprising collaboration: a capsule collection of lingerie and corsetry with Aubade Paris, the ne plus ultra of premium French innerwear.
Footwear News, this year marking its 75th anniversary, presented its annual Footwear News Achievement Awards on Tuesday night .
André Leon Talley presented the Company of the Year award to Deckers, parent company of Teva, Hoka and Ugg. In his remarks, Talley pledged allegiance to the Ugg Boot. “I even have my own monogrammed Ugg boots, just so I feel unique. No one can take them in case I’m at the gym, but they are a size 18 so it’s not like they are going to fit everyone,” he said.
Christian Louboutin presented the Style Influencer Award to Cardi B, who he described as, “A hell of a woman, one of a kind. She stands and fights for what she believes in. She is a force, she speaks her own language…and is the opposite of politically correct.” Continue reading
Moncler SpA acquire Sportswear Company SpA, owner of the Stone Island brand. Carlo Rivetti, chairman and ceo of Stone Island, said the company’s headquarter in Ravarino “will remain the beating heart of the brand and a center of excellence that will be further enhanced and my team and I will continue, in our current roles, to do what we have been doing with great passion for many years.
The agreement was signed between Moncler and Rivetex Srl, a company referable to Carlo Rivetti, owner of a stake equal to 50.1 percent of Sportswear Company’s capital and other shareholders of SPW, referable to the Rivetti family, owners of a stake equal to 19.9 percent of SPW’s capital.
The agreement values Stone Island at 1.15 billion euros, corresponding to a multiple of 16.6 times 2020 EBITDA and a multiple of 13.5 times the estimated 2021 EBITDA. The consideration for the purchase of the shares will be paid in cash by Moncler.
Chloé took another big step in its transformation to a purpose-driven company by recruiting Gabriela Hearst already synonymous with sustainable luxury as its new creative director. She founded her namesake brand in 2015 on the principles of timelessness, quality and sustainability.
The appointment, revealed Monday, gives the Uruguayan-American designer an even larger platform for her eco convictions. Indeed, instead of praising Chloé’s legacy of free-spirited fashions, Hearst trumpeted founder Gaby Aghion’s “purposeful vision” and the company’s new commitment “to create a business that is socially conscious and in balance with our environment.
Hearst a forward-thinking woman whose creative leadership will be a positive force in further evolving and expanding the founder’s original vision and powerful femininity.
Hearst started her label in fall 2015 after taking over the operations of her father’s sheep ranch in Uruguay, and built a luxury women’s ready-to-wear and accessories business on the principles of timelessness, quality and sustainability. Among her raw materials is merino wool from the family farm. Continue reading
What to Know About Balenciaga’s Hybrid Video Game Fashion Show, really nothing at all !.The brand is revealing its fall 2021 collection in a video game titled “Afterworld: The Age of Tomorrow.”
Balenciaga creative director Demna Gvasalia is continuing his inclination for unusual fashion show formats with a first-of-its kind hybrid video game fashion show.
The Age of Tomorrow.” The video game is the latest unique format from the designer, who showed Balenciaga’s spring 2021 collection through a fashion film set to Corey Hart’s “Sunglasses at Night” and showed the pre-summer collection on a rainy Paris evening.
From what to expect during the video game to how to play, here is everything you need to know about Balenciaga’s video game fashion show. That’s it.
Chanel had hoped to invite 200 guests to creative director Virginie Viard’s first fashion show outside Paris, but a second French lockdown forced the brand to revise its plans. When visitors take a guided tour of the Château de Chenonceau, they are often intrigued by the interlocking C that appear throughout the castle.
The initials are those of Catherine de Medicis, the former queen of France whose portrait hangs above an elaborate carved stone chimney bookended by lions. But to 21st century eyes, they look similar to the Chanel logo.
Also known as the Ladies’ Château, Chenonceau has a history marked by a succession of powerful women, of which the Renaissance rulers, in particular, inspired the label’s founder, Gabrielle “Coco” Chanel. Continue reading
Camus said : “If you live with a lame person, you will soon be limping yourself”. Here are some sketches of hell on a splendid throne of Qatar, a parade of the mediocre that our decadent have spontaneously given birth to for the inexorable breakdown of the aesthetic and moral sense of sewing. In this adulterated universe swarming with small “designers” who, in the name of modernity, re-ingurgitate the work of their predecessors without having talent. The designer thinks he carries a needle like a sword, but it scrapes the stream and tirelessly copies his predecessors without having their genius.
It is a very sad profession; the one where one accepts that one without knowing how to assemble a tailor, without a little hand that works for him! It is a very strange profession to dub a mystifier who takes the ideas of some and mixes them with those of others to redo something old and new made by others. Apologize to Mr. Balmain, Mr. Givenchy, Mr. Guy Laroche, Mr. Montana and all those great designers who made fashion existing and what it is today, which you rapture in abundance. Continue reading