Stefano Cantino: Who is Gucci’s new boss tasked with turning the luxury brand around? October 9, 2024 First Mulberry, then Burberry, and now Gucci – reshuffles at the very top of luxury businesses are definitely in vogue. Gucci, owned by Kering, has announced the appointment of Stefano Cantino as its new chief executive. He will take over from interim boss Jean-Francois Palus on 1 January 2025. Much like Mulberry and Burberry’s new [...]
Porsche sales accelerate to almost £2bn after sales spike October 9, 2024 A spike in Porsche sales in the UK helped the luxury car maker’s revenue accelerate to almost £2bn, it has been revealed. The Berkshire-headquartered division has reported a revenue of £1.92bn for 2023, up from the £1.34bn it achieved in 2022. Newly-filed accounts with Companies House also show its pre-tax profit jumped from £24.4m to [...]
McLaren W1: A ‘once in a generation’ hybrid hypercar October 8, 2024 When the opening gambit is ‘a successor to the McLaren F1 and P1’ – two of the greatest supercars in history – you know what follows will be something special. Or it certainly needs to be. The McLaren W1 does not disappoint. Welcome to the inner sanctum of a futuristic, semi-subterranean factory in Woking: home [...]
Inside the SHA Wellness retreat, the world’s most high-tech spa resort October 8, 2024 With private heli-pads, NASA-backed technologies and high-powered guests, does SHA Wellness retreat's brain spa deliver what it promises?
Mulberry founder suggests LVMH could be the right buyer for the brand October 7, 2024 Mulberry founder Roger Saul has suggested that French luxury behemoth LVMH could be the right company to step in and aid the struggling brand after it rejected an offer from Mike Ashley’s Frasers group last week. Saul, who launched the brand in the 70s before leaving in 2002, told This Is Money that Mulberry was [...]
Bottega Veneta returns to the black amid interest rate and inflation woes October 4, 2024 The UK arm of Italian luxury fashion house Bottega Veneta returned to the black in 2023 despite the cot-of-living crisis cutting into its sales. The West Sussex-headquartered division has posted a pre-tax profit of £336,007 for its latest financial year, according to newly-filed accounts with Companies House. The total comes after the business reported a pre-tax [...]
Brioni: Harrods sales fail to stop cost-of-living crisis slashing profit October 4, 2024 Profit at the UK arm of Italian menswear luxury fashion house Brioni was slashed in 2023 despite its sales at Harrods helping to boost its overall turnover. The London-headquartered division has posted a pre-tax profit of £79,230 for the 12 months, down from the £370,533 it achieved in 2022. Newly-filed accounts with Companies House also show that its turnover [...]
Gaggenau: Luxury home appliance firm seals 10-year West End move October 1, 2024 Luxury home appliance firm Gaggenau has signed a 10-year lease for a new global flagship store
Mulberry rejects Frasers £83m offer as too low October 1, 2024 British luxury brand Mulberry has rejected a possible takeover from minority shareholder Frasers Group on the grounds that it doesn’t recognise the company’s future value and will not lead the group back to profit. Frasers announced a possible takeover bid yesterday, 30 September, after it was snubbed from Mulberry’s £10m capital raise with majority shareholder [...]
Mike Ashley’s Frasers Group tables £83m Mulberry takeover bid after capital raise snub September 30, 2024 Mike Ashley’s Frasers Group has tabled a £83m takeover of Mulberry and launched a tirade against its board after allegedly being shut out of discussions over a £10m fund raise. The retail giant, which owns a 37 per cent stake in Mulberry, offered £83m for the rest of the luxury fashion brand, valuing each share [...]