With Gucci Stalled, Kering Enters Valentino Deal

How Global Warming Is Changing Fashion; Miu Miu Soars; Phoebe Philo Closer to Launch

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WHAT YOU NEED TO KNOW TODAY: FRIDAY, JULY 28, 2023 Kering has entered into a deal for Valentino as Gucci continues to underperform. Global warming is already changing clothing and beauty habits around the world. Miu Miu sales jumped 50 percent in the first half as a new brand programme paid off. Phoebe Philo has begun registering customers ahead of her label's September launch. Zegna has dodged luxury's US slowdown, thanks in part to its acquisition of the Tom Ford fashion business.

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LUXURY With Gucci Stalled, Kering Enters Deal for Valentino By Robert Williams

Kering announced the deal, which values Valentino at over €5 billion, as investor concerns mount over Gucci's continued underperformance. Valentino-owner Mayhoola could invest in Kering as part of a broader tie-up. READ MORE

SUSTAINABILITY How Global Warming Is Changing Fashion and Beauty By Tiffany Ap

Record temperatures around the globe will transform the way we dress and groom ourselves. READ MORE

Soaring Miu Miu Sales Boost Prada Group READ MORE

Phoebe Philo One Step Closer to Launch READ MORE

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NEWS BRIEFS Ermenegildo Zegna Sidesteps Luxury's US Slowdown UK Retail Sales Slide at Fastest Pace in More Than a Year Zara-Owner Inditex Says It Will Stop Buying Clothes From Myanmar L'Oréal Upbeat on China Despite Market's Softer Rebound Walmart Partners With Fashion Tech Start-Up to Pilot Carbon-Captured Textiles

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Inside Hermès' Best-In-Class Leather Goods Strategy This year, Hermès' stock price has soared, lifting the company's market capitalisation above $200 billion — more than that of Nike, the world's biggest fashion brand by revenue — for the first time. BoF's case study, Inside Hermès' Best-in-Class Leather Goods Strategy, breaks down Hermès' leather goods success, exploring how it protects and grows the hero category while creating stability, profitability and self-determination in a fast-moving, competitive luxury fashion market — offering lessons for brands at every scale. READ NOW

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