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Levi’s adds Artemis Patrick to board

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1 week ago

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January 23, 2025

Levi Strauss & Co. announced on Wednesday the appointment of Artemis Patrick to serve as a member of its board of directors, effective February 1.

Artemis Patrick

The board also appointed Patrick to serve as a member of its audit and mominating, governance and corporate citizenship committees, effective March 1.

A retail veteran, Patrick currently serves as president and CEO of Sephora North America, where she is responsible for the strategy, vision and financial performance of Sephora’s United States and Canadian operations, including the division’s multi-year growth.

She also is a member of Sephora’s global leadership team and leads Sephora North America’s operating committee. With 19 years under her belt at the LVMH-owned beauty retailer, Patrick has been a leader across several business functions, most recently serving as global merchandising officer for Sephora and chief merchandising officer for Sephora Americas, prior to being appointed CEO. She also on the Cosmetic Executive Women’s board, supporting and promoting women in the beauty industry.

“It’s an honor to welcome Artemis Patrick to our board,” said Bob Eckert, chairman of LS&Co. board of directors.

“Artemis has a proven track record as a multifaceted leader, with roots in merchandising, brand building, partnerships and e-commerce. Her deep industry and leadership expertise will be a valuable addition to our board as we continue to strengthen LS&Co.’s position in the retail and apparel industries while also furthering the company’s pivot to becoming a best-in-class omnichannel retailer.”

In its most recent trading update, ​the denim maker in October narrowed its full-year revenue outlook to the bottom end of its previous range, prompting concern that demand for the American company’s apparel is stagnating.

Looking ahead, net revenue is expected grow about 1% in the company’s current fiscal year, compared with a previous range of 1% to 3%. 
 

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Burberry names new exec in charge of tech team

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26 minutes ago

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January 31, 2025

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January 31, 2025

Burberry announced a key appointment on Friday with the luxury business saying it will soon have a new chief information officer.

Charlotte Baldwin

It has appointed Charlotte Baldwin to the role and she’ll join the business at the end of March. Baldwin will be responsible for leading Burberry’s global technology team and will join the executive committee. She’ll report directly to Burberry CEO Joshua Schulman. 

He described her as “a highly experienced technology and digital leader with a track record of leading large-scale digital transformation”.

She hasn’t previously worked in the luxury fashion sector but has wide-ranging experience across some major-name businesses in Britain.

She’s currently the global chief digital and information officer at coffee chain Costa Coffee where she oversees the company’s technology, digital and data organisation. 

Prior to joining that firm, she was the chief information, digital and transformation officer at private healthcare giant Bupa’s Bupa Insurance unit. She’s also held senior roles at Freshfields Bruckhaus Deringer, Pearson and Thomson Reuters.

Burberry has been navigating a tough period of late and Schulman joined in the top job last year, tweaking the firm’s strategy. His approach seems to be paying off with the company last week porting improved results, although the turnaround is still undeniable a work in progress.

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Gloucester Quays joins the record-breaking band of shopping centre successes

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January 31, 2025

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January 31, 2025

Another day, another shopping centre delivering a “record-breaking” performance in 2024. This time it’s Gloucester Quays “capping off another year of considerable growth”, for the owner/operator Peel Retail & Leisure.

That included record Christmas trading at the key Gloucester mall, which helped overall sales for the year finish 6.7% ahead of the national average. Across November and December, retail sales grew 3.6% compared with 2023.
 
Looking at 2024 in total, an overall 7.4% year-on-year sales increase across its tenants was split between 6.1% for retail, and 8.5% for F&B.

But there was also double-digit growth from leading fashion, homewares, and outerwear brands including Next, Skechers, All Saints, Mountain Warehouse, Puma, Crew Clothing and Suit Direct. 

It said sustained growth was seen across all categories “points to the increasing relevance of the Gloucester Quays experience”.

Paul Carter, asset director at Peel Retail & Leisure, added: “There have been various headlines this month about how challenged retail was around Christmas, so to have Gloucester Quays performing so well is a real credit to our team and our brands.

“These results also serve as a reminder of how relevant and in demand this outlet is. We have experienced consistent growth for several years, and that success can be put down to the quality of our offer and waterside environment. There is no doubt our catchment is responding to how we have evolved Gloucester Quays, as an urban outlet that combines a compelling shopping environment with dining and leisure to fit all tastes and needs, benefitting from a heritage waterside setting that few regionally can match.”

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Chopard fragrance licensee Give Back Beauty agrees to buy rival AB Parfumes

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3 hours ago

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January 31, 2025

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Reuters

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January 31, 2025

Italy’s Give Back Beauty, which makes perfumes for luxury brands such as Chopard and Zegna, on Friday said it had agreed to buy domestic rival AB Parfums to grow its distribution operations and add licensing deals.

Corrado Brondi, founder and president of Give Back Beauty

AB Parfums has an agreement with beauty giant L’Oréal Group to distribute some of its fragrances such as Ralph Lauren, Maison Margiela and Diesel. It also produces and distributes fragrances for brands such as Trussardi and Laura Biagiotti.

Fragrances have been outperforming the broader beauty sector and Give Back Beauty founder and Chairman Corrado Brondi told Reuters his company did not rule a possible bourse listing in the future, adding it had no financial need for it at present.

Brondi said AB Parfumes had sales of around €100 million, which would add to Give Back Beauty’s net revenues that totalled around €300 million in 2024.

Give Back Beauty, which was founded in 2019 and has a distribution deal with Dolce & Gabbana and a beauty license with Tommy Hilfiger, has a core profit margin currently a little over 15%, it said.

AB Parfums is being sold by Italy’s Angelini Industries, a family-owned group that is mostly active in the pharmaceutical sector.

Give Back Beauty’s business is currently focused on fragrances, which represent roughly 70% of its revenues, but it aims to grow its skincare, make-up and haircare product lines, Brondi said. 
 

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