While most people didn’t know what an NFT was just a little while ago, the tech is making its way into the fashion sector and Luxottica’s Ray-Ban brand has launched the first NFT (Non-Fungible Token) glasses in history.
THG can’t seem to catch a break. After it reported strong figures in its latest update, its share price continued to plummet, down from over £3 each at the previous day’s close to less than £2.40 each in early trading.
The famous Florentine luxury retailer has finalized the sale of a 40% stake to Italian investment fund Style Capital. Founder Andrea Panconesi, has retained his role as president, while Alessandra Rossi has become CEO.
Creative director Daniel Lee chose Detroit as the location to unveil his Spring/Summer 2022 collection, which explored a sportier, more functional aesthetic for the brand, largely thanks to new technical fabrics.
The menswear label owned by Kering has confirmed the dismissal of 320 employees linked to the closing down of its Italian shirt and knitwear factories. Unions say the loss of this expertise will impoverish Brioni.
Aeffe, the listed Italian luxury company, said on Tuesday that it has reached an agreement with Sinv to take over the licence for the production and distribution of Love Moschino womenswear collections.
Gieves & Hawkes, the bespoke tailoring business, could be a step nearer to closing down as the problems facing its parent company continue to weigh on its operations and a crunch creditor vote looms next week.
Under-pressure THG issued a Q3 trading statement on Tuesday and said that revenue continues to soar. Group revenue rose 38% year-on-year to £507.8 million and 93.8% on a two-year, constancy-currency basis.