Italian jewellery group Damiani has exceeded its revenue forecasts, and is set to close the fiscal year ending on March 31 with consolidated revenue of over €380 million, up more than 10% on the previous year. A result that is all the more positive given the tough backdrop the luxury sector is experiencing.
Items from the Mimosa jewellery collection – damiani.com
“Despite a complex general situation, still characterised by great volatility, we are looking to the future with optimism. The results achieved in this fiscal year, for which we thank all our valued collaborators for their great commitment, and our esteemed customers and all stakeholders for their trust, have demonstrated the effectiveness of our strategies,” said group President Guido Grassi Damiani. “We will therefore continue with our investment plan by thinking not only about the next quarter, but above all about the next generations,” he added.
In fiscal 2024-25, the group invested significantly in the retail channel, opening a number of stores all over the world, especially in the Middle East, where it recently inaugurated its first boutique in Riyadh, Damiani’s debut in a market with such high potential as Saudi Arabia.
The group’s Damiani division will soon unveil a new store concept, designed as a tribute to the jewellery brand’s Italian spirit and characterised by carefully planned interiors and the use of materials strictly made in Italy.
It has also set up two joint-venture companies to open new Rocca jewellery stores with local partners in Italy: One in Calabria, with leading retailer Scintille, and one in central Italy, with long-standing jeweller Damiani Parati.
Guess Inc. announced on Thursday sales for the fiscal 2025 year increased 8% to $3 billion, on the back of a solid fourth quarter helped on by the U.S. retailer’s Rag & Bone acquisition.
Guess
The Los Angeles-based company said fourth-quarter sales grew 5% to $932.3 million for three months ending February 1. By region, Europe revenues increased 2%, partially offset by a 15% decline in Asia sales. Domestically, Americas retail revenues lifted 4%, despite retail comparable sales, including e-commerce, taking a 14% dive, while Americas wholesale revenues surged 63%. Licensing revenues rose 18%, the company said.
For the quarter, net income fell 29% to $81.4 million. The company attributed its quarterly growth to the Rag & Bone acquisition, which took place in April last year, as well as “positive momentum” in its wholesale businesses in Europe and the Americas and increased licensing revenues.
“All of our operating segments posted revenue growth, except for our Asia segment,” said Carlos Alberini, chief executive officer, Guess Inc.
“With this performance, we closed the year with revenue growth of 8% in U.S. dollars and 10% in constant currency. During the year, we delivered solid results with our Licensing segment and our wholesale businesses in Europe and the Americas, but missed our plans for our direct-to-consumer business due to slower customer traffic in North America and Asia. All considered, for the year we reached almost $3 billion in revenues and $174 million and $180 million in GAAP and adjusted operating earnings, respectively. Importantly, this year we reached a significant milestone for our company, as we executed our first acquisition in Guess’s history, with the addition of rag & bone to our portfolio.”
In a separate release on Thursday, the iconic American brand announced that Alberto Toni, currently group managing director and chief financial officer of Flos B&B Italia Group S.p.A., has been appointed chief financial officer of Guess, effective mid-June.
Toni will succeed interim CFO Dennis Secor, who will remain with the company as executive vice president through September 12, to support a smooth transition. Toni will be based in Lugano, Switzerland, and will lead Guess’s finance team globally.
“We are excited to welcome Alberto as our company’s next CFO,” said Alberini.
“He brings over 30 years of global financial and operational experience as well as a track record of disciplined execution across established design, retail and consumer-focused companies. We look forward to benefiting from Alberto’s leadership as we work to further optimize our business portfolio, enhance our cost structure and best position Guess for the long-term growth opportunities we see ahead.”
Model Hailey Bieber is exploring a sale of her makeup brand Rhode that could be worth more than $1 billion, according to three people familiar with the matter.
Rhode
Bieber has tapped investment bankers at JPMorgan Chase and Moelis to find a buyer for the cosmetic brand that she launched in 2022, two of the sources said, requesting anonymity as the matter is confidential.
Bieber joins a list of celebrities who have recently attempted to cash in on the popularity of consumer-focused ventures they launched in recent years.
In 2021, actor Jessica Alba pulled off a successful initial public offering for her consumer goods venture The Honest Company. Rare Beauty, backed by Grammy-nominated singer Selena Gomez, has also been seeking a buyer, according to people familiar with the matter.
JPMorgan and Moelis declined to comment. Rhode did not immediately respond to requests for comment.
Bieber, who is married to singer Justin Bieber and is the daughter of actor Stephen Baldwin, is a social media influencer, having amassed over 50 million Instagram followers.
Beauty trends such as “glazed donut skin” gained popularity after Bieber promoted her daily skincare routine.
Rhode, which was named after Bieber’s middle name, generates annual revenue of nearly $200 million, two sources said. The Los Angeles-based brand, which sells skincare products and makeup, has collaborated with companies such as Krispy Kreme to promote certain products.
Rhode appointed former The Honest Company chief executive Nick Vlahos as its CEO last year.
Neiman Marcus and Ralph Lauren have teamed up to launch an exclusive collection that reinterprets the classic patchwork motif with elevated craftsmanship and contemporary appeal.
Neiman Marcus and Ralph Lauren launch Patchwork Americana collection. – Neiman Marcus x Ralph Lauren
Dubbed “Patchwork Americana”, the 52-piece assortment, spanning men’s, women’s, and children’s fashion, marks Ralph Lauren’s first-ever exclusive collection for the luxury retailer, reinforcing a shared vision of American luxury and style.
Standout pieces from the women’s collection includes a sequined flag sweater featuring an exclusive Neiman Marcus emblem, pearl-beaded floral-etched denim, and a patchwork sequin skirt. Completing the collection is a meticulously tailored patchwork suit and an embellished strapless gown.
For men, Ralph Lauren’s signature aesthetic shines through in a palette of deep blues and creams. Key pieces include a tonal palm leaf jacquard jacket, a silk-blend cardigan, the brand’s iconic flag sweater, and a blue Japanese cotton chambray suit.
The children’s collection continues this blend of classic Americana and effortless elegance, featuring a standout Italian cashmere flag sweater alongside an array of styles featuring intricate patchwork details, vibrant colors and whimsical patterns.
“Ralph Lauren’s impact on American fashion is beyond measure. He has forever altered the fashion landscape with a unique vision of relaxed elegance, infusing an old-world sophistication with refreshing modernity, and we are honored to collaborate with Ralph Lauren on a collection created exclusively for our clientele,” said Paolo Riva, chief brand partnerships and buying officer, Saks Global.
“This exclusive collection celebrates the long-standing partnership and admiration between Neiman Marcus and Ralph Lauren, with brand signatures like patchwork denim and easy shirting reimagined into extraordinary wardrobe heroes.”
The collection launches with a dedicated Ralph Lauren installation on the second floor of Neiman Marcus NorthPark, in Dallas, and is available exclusively at select Neiman Marcus locations, online, and through remote selling.
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