Bolt Threads announced on Wednesday that its Mylo faux leather has been verified as a vegan material after successful completion of the Eurofins vegan verification programme, which includes detecting animal DNA.
After taking a plunge last week following the announcement of China’s wealth redistribution plan, share prices for the leading luxury groups made up some ground earlier this week, though uncertainty lingers.
Former CEO of Brioni Gianluca Flore, who moved to Burberry in 2017 to oversee the British luxury brand’s operations in the Americas, will step into his new role as chief commercial officer from September 1.
Coach and Kate Spade owner Tapestry Inc forecast annual revenue and profit above estimates after posting better-than-expected results on Thursday, expecting the reopening of economies to boost demand for luxury goods.
Michael Kors parent Capri Holdings Ltd on Friday raised its annual forecasts for the second time after trouncing Wall Street estimates for quarterly results, as shoppers splurge on its high-end clothes and bags.
Covid has forced the Italian luxury industry to step up the pace of its transformation and search for investors, as shown by Zegna announcing a forthcoming stock market listing, and L Catterton’s acquisition of Etro.