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Prada profit surges 21% as speculation swirls over Versace bid

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Reuters

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March 4, 2025

Italian luxury group Prada on Tuesday reported 21% growth in operating profit last year, in line with analysts’ forecasts, amid speculation about a potential acquisition of smaller rival Versace.

The group, which has been defying a slowdown in luxury demand and outperforming many of its peers, reported a 17% increase at constant exchange rates in net revenues in 2024, reaching 5.43 billion euros ($5.72 billion) and matching analysts’ expectations, according to data from LSEG.

Bloomberg News reported on Sunday that Prada is moving closer to a deal for Versace after agreeing to pay nearly 1.5 billion euros ($1.6 billion) for the business founded by the late Gianni Versace in the 1970s, where his sister Donatella has been the creative head for more than two decades.
Italian newspaper Corriere della Sera reported on Tuesday that Prada is interested in the acquisition of both Jimmy Choo and Versace from Capri Holdings for a total outlay of between 1.5 billion euros and 2 billion euros.

The statement made no mention of the reports of a potential Versace deal and Chief Financial Officer Andrea Bonini said, “we don’t comment on rumours” when asked on a conference call about links to Versace and Jimmy Choo.
Revenues grew by double figures across all regions, with the exception of the Americas region, which reported a 9% growth thanks to an improvement in the second half of the year.

The Asia Pacific region saw a good performance over the year, with 13% growth, with an improvement in the last quarter across all main areas.
In the fourth quarter itself, retail sales, which account for most of the total sales, rose 18%, thanks mainly to the smaller Miu Miu brand. Growth at Prada’s main brand was more moderate, around 4% year-on-year in the period.

“Looking forward, while being mindful that the complex industry dynamics are likely to persist, our priorities remain unchanged,” said Chief Executive Andrea Guerra.

“At Prada, we have a clear opportunity to continue to drive market share, while at Miu Miu we shall consolidate its success,” he added.
The group had a net cash position of 600 million euros at the end of December, which could help to fund a potential acquisition. ($1 = 0.9485 euros) (Reporting by Elisa Anzolin Editing by Keith Weir)

© Thomson Reuters 2025 All rights reserved.



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O&CC hires Brandnation for modernisation push

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Creative communications agency Brandnation has been appointed to handle the PR for retailer Outdoor and Cycle Concepts (O&CC) – the group behind British retail brands Cotswold Outdoor, Runners Need and Snow + Rock. 

An integrated brief spans PR, influencer marketing, creative campaigns and corporate communications across the group’s three businesses. The account will be led by Joe Murgatroyd, partner and creative director at Brandnation. 

The appointment comes at a time when O&CC is set to embark on a period of modernisation throughout the business “a focus within the brief which Brandnation will support in navigating”, the agency said. 

O&CC marketing director Lucy Sutton said: “Brandnation was able to demonstrate a dynamic mix of energy, creativity and expertise that will help elevate our brands to new heights in 2025. 

“[The aim is] to reach audiences in new ways through integrated creative storytelling – narrating the stories that will inspire people to enjoy their time outdoors to the full.” 

The account win builds on the agency’s experience in the active outdoor sector that includes Columbia Sportswear, Merrell and Kathmandu.

In November, Brandnation announced new owners with its founder and managing director Mary Killingworth selling her majority stake in the business to an Employee Ownership Trust (EOT).

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Primark links with Pinterest on new spring-trending home ranges

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Primark is pushing ahead with growth in homewares, teaming up with digital retailer Pinterest on new collections inspired by the platform’s biggest trends for spring.

Having identified three key trends from the search data of Pinterest’s 12 million users, Primark has introduced ranges called Cosy Cottage, Minamaluxe, and Dainty Décor.  

Launching in 100 Primark stores, the pair are also bringing the collaboration to life across more than 70 store windows. The ranges will be available to purchase in stores throughout March.

And to widen Primark’s digital ambitions, the ranges are also available to purchase via Pinterest using Click & Collect to offer customers “an immersive seamless shopping experience”.

To style the new collection before buying, shoppers open Pinterest Collages, an interactive tool to pull together their vision, allowing users to curate mood boards from the Primark range.

The pair are also offering a first-ever Collage masterclass tour, designed to help those “reimagine their dream space”, with in-store dates across the UK that will include flagship stores in London, Belfast, Liverpool, and Glasgow this month.

Heather Clark, head of retail at Pinterest UK, said: “Inspiration has a new home. “We’ve seen searches rise for pastel palettes, an understated luxury aesthetic and darling furnishings and with new ways to shop Primark’s trend-certified home range, it’s now even easier to bring this inspiration to life.”

The retailer’s head of design Sinead McDonagh added: “Pinterest is where so many of us go for home inspiration, but sometimes turning those saved Pins into reality isn’t always easy, especially on a budget.

“That’s why at Primark Home, we’re committed to making trend-led interiors affordable and effortless. Whether you prefer a minimalist vibe or playful patterns, here’s how to bring the latest trends into your space without breaking the bank.”

In January, Primark announced it was expanding the ‘lifestyle’ aspect of its retail offer, opening its first-ever standalone ‘Primark Home’ store in Northern Ireland on 6 March. The Donegall Place, Belfast, store will span span around 8,700 sq ft across one level, with the predominantly fashion retailer saying the “exciting new venture marks a significant milestone for Primark as the brand continues to expand its homeware and lifestyle offering”.

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Paris exhibition honours friendship between Alaïa and Mugler

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ETX Daily Up

Translated by

Nicola Mira

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March 4, 2025

Sometimes friendship can inspire and influence. The Azzedine Alaïa Foundation in Paris is exhibiting a few dozen looks showing how the styles of the Franco-Tunisian designer and of Thierry Mugler interacted with each other, despite their profound differences.

Voluptuous waistlines, statement shoulders, looks sometimes inspired by Africa. The Azzedine Alaïa, Thierry Mugler, 1980-1990, deux décennies de connivences artistiques exhibition, open until June 29 in Paris, showcases more than 70 dresses, coats and jumpsuits by the two designers, loaned from Alaïa’s personal collection.

The exhibition’s leitmotif is a chromatic journey that begins with a series of black garments and continues with a sequence of white, red, green and gold looks.

Mugler, who died in 2023, was famous for his feel for glamour and fantastical looks, while Alaïa, who passed away in 2017, was better known for his lower-key style.

Nevertheless, both “greatly admired the 1930s and 1950s, and they referenced Hollywood much more clearly than other designers,” said Olivier Saillard, fashion historian and the exhibition’s curator, speaking to AFP. 

Azzedine Alaia Foundation

In some of the looks, the similarities are so striking that “we don’t really know who designed what,” said Saillard. 

Alaïa and Mugler first met in the late 1970s. Alaïa, who was working for some of the great houses at the time, was asked by Mugler to create the dinner jackets for his Fall/Winter 1979-80 collection.

The collaboration encouraged Alaïa to embark on a solo career, urged by Mugler, who went as far as to accompany Alaïa in New York in 1982 for his first major show, to help him with production and with the language. 

A few years before his death, Mugler said that his friend “had encouraged him to partake of life a bit more, so that his designs would be less fantastical, and more suited to real women,” said Saillard. 

Conversely, “Mugler thought that, following their closeness, [Alaïa’s style] had become curvier. His lines suddenly became much more enveloping and sensual,” he added. 

This is why the Alaïa Foundation “decided to set up the exhibition as a dialogue, to show the two designers’ kindred spirits,” said Saillard.

Copyright © 2025 ETX Daily Up. All rights reserved.



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