Chanel to Bolster ‘Ultimate Luxury Experience’ as Sales Surge

Ralph Lauren & Armani Results; Louis Vuitton's First Airport Lounge; Explainer: Fashion's New Efforts to Protect Nature; Circularity Is a Fantasy

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WHAT YOU NEED TO KNOW TODAY: FRIDAY, MAY 26, 2023 Chanel will double its capital investments to about $1.2 billion this year as sales soar. BoF explains LVMH, Kering and H&M's new science-based efforts to protect nature. Ralph Lauren beat profit estimates and saw a rise in fourth-quarter sales. Louis Vuitton is opening its first branded airport lounge in the Doha, Qatar. Circularity is a convenient fantasy for the fashion industry, argues Kenneth Pucker. Plus, join The Business of Beauty Global Forum livestream next Tuesday and Wednesday to learn from the best and the brightest in the beauty industry. Register now.

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LUXURY Chanel to Double Capital Investments, Bolster 'Ultimate Luxury Experience' as Sales Surge By Robert Williams

The privately-held fashion and beauty giant's sales rose 17 percent to $17 billion in 2022. Private salons for top-spending clients, emerging technologies and a new London headquarters are on new CEO Leena Nair's agenda. READ MORE

SUSTAINABILITY Big Brands' New Efforts to Protect Nature, Explained By Sarah Kent

Kering, LVMH and H&M are among a handful of companies pioneering a new science-based framework to measure, disclose and address their impact on nature. READ MORE

SUSTAINABILITY Op-Ed | Circularity Is a Fashionable Fantasy By Kenneth P. Pucker

The buzzy concept is a chimaera that distracts from the root cause of fashion's worsening environmental impact: overconsumption, argues Kenneth Pucker. READ MORE

BEAUTY Learn From the Best in Beauty and Wellness By BoF Team

Join us for The Business of Beauty Global Forum next Tuesday and Wednesday to learn from the best and the brightest of the global beauty industry. READ MORE

Beauty Tiktok's Latest Obsessions: Introducing Katie Fang and Luxury Beauty Strikes Again READ MORE

Ralph Lauren Results Top Estimates READ MORE

Armani Sales Up as Asia Rebounds READ MORE

Louis Vuitton Opens Its First Airport Lounge, in Qatar READ MORE

BoF PROFESSIONAL Join now and enjoy your first 30 days for just $/£/€1 START TRIAL

NEWS BRIEFS E.l.f. Reports 48 Percent Increase in Net Sales For Fiscal Year 2023 Private Equity Firm Takes Control of Italian Leather Goods Supplier Boohoo Founders Get Hefty Bonuses Despite Missing Sales and Profit Targets Gap Inc Posts Surprise Profit

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Your Front Row Ticket to Scad Fashion 2023 See the latest looks from the industry's newest innovators. Watch the live runway show and the latest fashion film, Dimensions, debuting the senior collections from SCAD's fashion prodigies.  ENJOY THE SHOW

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