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Former Bulgari CEO Francesco Trapani passes away at 68

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Nazia BIBI KEENOO

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September 11, 2025

Italy is mourning the death of Francesco Trapani, the iconic luxury goods executive best known for transforming the Bulgari family business into a global leader in jewelry. He died on September 10 at his home in Rome following an illness. He was 68. Trapani was the great-grandson of Sotirio Bulgari, founder of the Roman jeweler Bulgari, and took over the reins of the company in 1984 at the age of just 27.

Francesco Trapani (Photo archive) – Archives

A graduate in business economics from the University of Naples, Trapani specialized in business administration at New York University before joining the family company in 1981 as assistant to the chief financial officer. Over the course of three decades, he transformed the historic Roman jeweler into a major player in the international luxury market, accelerating its diversification into watches, perfumes, and accessories, and launching its expansion into the upmarket hotel industry. In 1995, he took Bulgari public on the Milan Stock Exchange.

Under Trapani’s leadership, Bulgari grew from €25 million in revenue, five boutiques, and 80 employees in 1984 to €1.5 billion in sales, 300 stores, and 4,000 employees by 2011.

When the company was sold to LVMH in 2011, it was valued at €4.3 billion. Following the acquisition, Trapani led the integration of Bulgari into the French luxury group, overseeing LVMH’s watch and jewelry division until 2014. He continued to advise Bernard Arnault on jewelry strategy for several years, remaining on LVMH’s board of directors until 2016.

In early 2014, Trapani joined the Italian investment fund Clessidra as chairman. He left in 2017 to join the board of Tiffany & Co., resigning at the end of 2018 following the announcement of the American jeweler’s pending acquisition by LVMH.

He later entered a new chapter in finance, becoming active in several investment groups, including Bluebell Capital Partners, Tages Group, and VAM Investments.

Jean-Christophe Babin, CEO of Bulgari, paid tribute to Trapani in a public message, praising his visionary leadership and enduring influence on the jewelry house.

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Calvin Klein opens new flagship store in SoHo, New York

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December 10, 2025

Calvin Klein opened on Tuesday a new global flagship in New York City, marking the brand’s return to its hometown.

Calvin Klein opens new flagship store in SoHo, New York. – Calvin Klein

Located at 530 Broadway in SoHo, the over 3,000-square-foot store draws inspiration from New York’s signature loft apartments, characterized by open wood ceilings, cast columns and concrete flooring, paired with neutral tones and stainless steel fixtures.

Meanwhile, the store’s exterior is finished in the brand’s charcoal tone, with large windows displaying a seasonal visual concept created in partnership with Perron Studios.

The store features curated spaces with denim and underwear at the center of the assortment, alongside men’s and women’s apparel and accessories. Beginning in spring 2026, the location will offer select styles from Calvin Klein Collection during designated periods. To mark the opening, the SoHo flagship is releasing a limited capsule collection of tees, sweatshirts, hats and totes featuring custom Calvin Klein SoHo branding.

“We are proud to return to one of the world’s most fashionable cities – and the birthplace of our iconic brand – with an elevated retail expression,” said David Savman, global brand president, Calvin Klein.

“This new global flagship, located just steps from our landmark Houston Street billboard, is a tribute to Calvin Klein’s New York heritage. It represents both the evolution of our retail experience and a tangible expression of the world of Calvin Klein. Calvin Klein embodies a distinctive, global way of living that meets culture, and this store is the latest step on our journey of taking our brand to the next level.”

The store follows recent flagship openings in Paris and Tokyo and reflects the company’s strategy to create premium lifestyle destinations built around its minimalist design DNA.

“New York is central to the DNA of the Calvin Klein brand,” added Stefan Larsson, CEO, PVH Corp.

“This homecoming is a key milestone as we build Calvin Klein into one of the most desirable lifestyle brands in the world. Step by step, we’re deepening brand relevance, driving consumer engagement and strengthening brand positioning across North America and globally.”

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Swatch and Citizen face Italian scrutiny over pricing practices

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Reuters

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December 10, 2025

The Italian competition authority said on Tuesday it had opened two investigations into Swiss watchmaker Swatch and Japan’s Citizen Watch.

Reuters

The ⁠probes involve an alleged infringement of European ⁠rules on the fixing of retail prices displayed online by the ‍groups’ ‌authorised distributors. 

The two companies may ⁠be limiting ‌price competition among their ‌retailers through a vertical agreement, by imposing retail prices on their distributors and adopting “retaliatory ‍commercial measures” against those that fail to comply, the antitrust ‌authority ⁠said ​in a statement. 

The agency’s ⁠officials ​carried out inspections at the Italian offices of Swatch and ​Citizen on December 3.

Swatch and Citizen did not ⁠immediately respond ⁠to a request for comment. 

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UK retail tycoon Mike Ashley uses Frasers shares as collateral for loan

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Reuters

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December 10, 2025

British retail tycoon Mike Ashley has pledged around 670 million pounds ($890.6 million) worth of shares in his sportswear and fashion retailer Frasers Group Plc as collateral ⁠for a loan from HSBC, according to filing on Tuesday.

Reuters

Ashley’s ⁠holding company, MASH Beta Limited, which holds the majority of Frasers’ issued share ‍capital, ‌pledged about 103.6 million ordinary shares.

Frasers’ ⁠shares were down ‌about 1.3% at 646.5 pence ‌as of Tuesday’s last close.

This move comes after the company’s heavy investments in newer geographies and taking ‍or increasing shareholding in recent months across companies, from fashion groups to ‌electrical ⁠retailers.
Mike ​Ashley holds roughly a 73% ⁠stake ​in Frasers, according to data compiled by LSEG.

The company whose portfolio ​includes Sports Direct, House of Fraser and Flannels, reaffirmed its ⁠full-year profit forecast ⁠earlier this month.

© Thomson Reuters 2025 All rights reserved.



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