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Chalhoub Group acquires a stake in Willy Chavarria

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October 15, 2025

Chalhoub Group, one of the key luxury conglomerates in the Gulf region, has made a strategic investment in Willy Chavarria, the acclaimed New York-based fashion brand.

Willy Chavarria – Spring-Summer 2026 – Menswear – France – Paris – ©Launchmetrics/spotlight

  
Chalhoub Group quietly acquired its minority stake in Willy Chavarria last month, joining disruptive creative brand incubator Fae Fashion Ventures. The brand-building firm founded by music veterans Sarah Stennett and David Grinberg first invested in Willy Chavarria in early 2024.
 
“The partnership marks a pivotal step in the brand’s global growth, bringing together a trifecta of retail expertise, creative innovation, and cultural relevance,” Chalhoub Group said in an official statement. Terms of the deal have not been released.

Hybrid retailer Chalhoub Group boasts a portfolio of ten owned brands, some 950 stores, and over 400 international brands in the luxury, beauty, fashion, and art de vivre categories. As part of its strategic ambition, Chalhoub Group supports rising luxury brands through venture capital as well as larger mergers and acquisitions, with a particular focus on fragrance, leather goods, footwear, and homeware. 
 
“This investment underscores the Group’s commitment to backing scalable, high-potential brands with strong cultural relevance and visionary leadership,” said Chalhoub Group. “In the case of Willy Chavarria, we believe his cultural resonance and unique blend of experience in fashion, inclusive identity, and humanity will enable the brand to connect across diverse client segments and cultural moments, and we look forward to supporting the company as it expands internationally.”

With more than 70 years of experience in luxury retail and brand building across the Middle East and beyond, the Chalhoub Group boasts extensive expertise in market expansion, distribution, and value creation which it will harness to support Willy Chavarria’s global acceleration.
 
Co-founded in 2015 by Willy Chavarria and David Ramirez, the New York label has evolved into one of fashion’s most authentic voices, blending bold tailoring with socially conscious narratives and cultural symbolism. The brand made its official Paris Fashion Week debut in January 2025 and has positioned itself at the forefront of next-generation luxury.

This partnership will facilitate expansion into key markets such as Europe and Asia, support a suite of new creative projects, and help realise the long-term vision of CEO and creative director Willy Chavarria.

Willy Chavarria has won numerous awards for his designs
Willy Chavarria has won numerous awards for his designs – BFA

 
“We are thrilled to welcome Chalhoub Group onto the board of Willy Chavarria to add their expertise in scaling growth businesses. The fusion of retail, brand experience, and cultural expression across all areas of the arts will establish a blueprint for future-facing fashion brands,” said Stennett.

Since the brand’s partnership with Fae Group, beginning in Spring/Summer 2024, Willy Chavarria has more than tripled its number of wholesale distributors, secured partnerships with leading retailers, and launched impactful collaborations with Adidas, Don Julio, and Tinder. 
 
Born into a modest family of Mexican and Irish origin in a Californian farming community, Chavarria studied art in San Francisco; working as a designer for Joe Boxer before joining Ralph Lauren where he led its sports collections. He debuted his eponymously named brand in 2015, knitting together politics and fashion from his first shows, including an early presentation inside a New York leather bar on the Hudson River.
 
Willy made a sensational Paris runway debut in January of this year. The designer’s show inside the American Cathedral featured models Indya Moore and Paloma Elsesser along with a recording of Episcopal Bishop Mariann Edgar Budde chastising President Trump for his lack of compassion and inclusivity.
 
“Willy Chavarria is a designer who represents the evolving face of luxury, rooted in culture, identity, and community,” said Zahra Kassim-Lakha, chief investment officer at Chalhoub Group. “Our partnership is grounded in a shared ambition to support brands with strong values and distinctive voices. We believe Willy’s creative vision and powerful storytelling are reshaping the fashion landscape globally.” 
 
Willy Chavarria’s global impact and creative vision have been recognised with multiple awards – from Woolmark Prize finalist 2019; Cooper Hewitt National Design Award winner 2022; and two awards for CFDA American Menswear Designer of the Year.
 
Joining Chalhoub Group and Fae Fashion Ventures is Webster Capital and its founder, Tony Olson. Though the percentage stake held by Chalhoub, Fae Fashion Ventures, Webster Capital, and Willy Chavarria have not been revealed.
 
“Willy Chavarria resonates with our Experience-Memory-Emotion (EME) investment vertical, in that his message and brand are rewriting cultural narratives.  We are thrilled to partner with Chalhoub Group and FAE Fashion Ventures on this exciting opportunity,” said Olson.
 

 

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Morleys gets new CEO with Ray Clacher to join in January

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December 18, 2025

​Morleys, the small UK department stores chain, has announced a new CEO and another tweak to its top team.

Morleys

The company — which owns the Morleys stores, as well as Elys and Jollys — said this week that Allan Winstanley will be stepping down from his role as CEO at the end of this month, “following a successful tenure leading the business”. 

In his place, it has named Ray Clacher to the top job, effective 5 January. It said he “brings extensive experience across the retail and fashion sectors”. 

Most recently, he was chief commercial officer at BrandAlley and before this, he held senior leadership roles within the Li & Fung Group, including group managing director for Gieves & Hawkes, Kent & Curwen and Cerruti 1881. 

Earlier in his career, he worked at UK retail businesses DH Evans and House of Fraser, “giving him a deep understanding of the UK department store landscape”.

Clacher said it’s an “exciting time” for the group with the reopening of its Jollys store in Bath planned for August 2026. 

He added: “The business has a proud history and a strong position in the UK department store market, and I look forward to working with the team to build on this success and drive growth in the years ahead”.

The company’s chairman Bernard Dreesmann said that his “breadth of experience across premium fashion, commercial retail and department stores makes him exceptionally well placed to lead Morleys into its next chapter”.

Buying director Daren Gittins “has also decided to take a planned break from the business to pursue his passion for travel” as of the end of April 2026. 

He’s spent 13 years with Morleys and “has played a pivotal role in shaping the department store group’s buying strategy”. 

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Platinum hits 17-year high as tight supply doubles price in 2025

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Bloomberg

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December 18, 2025

Platinum extended its steep rally to a 17-year high, driven by tight supplies and elevated trading activity in a new Chinese futures contract.

Platinum jewellery is one of the main uses of the precious metal – Platinum Days of Love- Facebook

Spot prices climbed as much as 4.9% on Wednesday, and have chalked up gains of more than 2% each day since Thursday. The metal has more than doubled this year, set for the biggest annual gain in Bloomberg data going back to 1987.

The surge has come as the London market shows signs of tightening, as banks park metal in the US to insure against the risk of tariffs. Exports to China have also been robust this year, and optimism for the nation’s demand has been bolstered as futures recently began trading on the Guangzhou Futures Exchange.

Highlighting the tight supply, the annualised cost of borrowing platinum for one month was at about 14% on Wednesday in London, a historically high level that indicates traders are unwilling to part with metal while inventories are low. 

“We’ve got this really tight environment globally, with three-way geographic competition for metal between the US, Europe, and China,” said Ed Sterck, director of research at the World Platinum Investment Council. “You’ve still got really elevated lease rates, which is indicative of a shortage of metal.”

Against a tight background, the metal has been hit by a wave of investment that poured into precious metals this year, a rush that helped silver to also double in price and soar to a record.

As traders wait for the outcome of Washington’s Section 232 probe- which could lead to tariffs or trade restrictions on platinum- more than 600,000 ounces of the metal are sitting in US warehouses, an amount much higher than usual. 

In China, the newly launched platinum futures on GFEX have attracted a wave of speculators, with prices rising well above other international benchmarks. 

While Sterck said trading volumes on the new offering were significant, he noted that the contract wasn’t yet fully open for non-domestic traders to take advantage of premium prices by sending platinum to China. Smoothing out the arbitrage process would make it easier for the futures contracts to pull global benchmarks higher, as inflows cause other markets to tighten.

The exchange has shared ambitions about opening vaults overseas in the future, to take a larger role in the price discovery process, according to Sterck.

“China’s the biggest market in the world for a lot of commodities, but hasn’t necessarily been as influential in global price discovery yet,” he said. 

Platinum is on course for a third annual deficit this year, helped by supply disruptions in major producer South Africa. The auto and jewellery sectors are among the biggest consumers, but high borrowing costs have been an issue for manufacturers that use the metal to produce goods ranging from chemicals to glass to laboratory equipment. Industrial users often choose the less capital-intensive option of leasing, rather than buying the commodity outright. Given the cost of borrowing, a move to buying instead could propel prices higher.

The electric-vehicle transition had long weighed on platinum and its sister metal palladium, both of which are used in catalytic converters to filter pollution. Still, slower-than-expected adoption of EVs in some markets has boosted sentiment, and the European Union this week eased requirements that would have halted sales of new gasoline and diesel-fuelled cars starting in 2035.

Platinum was up 2.2% at $1,885.40 an ounce by 3:55 p.m. in London. Sister metal palladium gained as much as 3.1%.



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Douglas reports sales and earnings growth, considers expansion into the Gulf region

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DPA

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December 18, 2025

The perfumery chain Douglas posted higher revenue and earnings in the 2024/25 financial year. However, in the final quarter the company felt the impact of greater customer price sensitivity and intensifying competitive pressure from discount promotions, Douglas said in Düsseldorf on Thursday. In the financial year to the end of September, revenue rose by 2.8% to just under 4.6 billion euros. Earnings before interest, taxes, depreciation and amortisation (EBITDA) improved by 3.6% to 756.5 million euros.

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“In a very volatile and therefore challenging year, we delivered results broadly in line with expectations,” said Group CEO Sander van der Laan. He expects the European premium beauty market to remain on a growth trajectory, although consumer uncertainty could persist. For the new 2025/26 financial year, Douglas anticipates a slight increase in revenue to between 4.65 and 4.8 billion euros, while the adjusted EBITDA margin is likely to decline from 16.8% to around 16.5%.

In the medium term, Douglas is targeting low- to mid-single-digit percentage growth and a stable adjusted EBITDA margin. The company is also exploring expansion beyond Europe: Group CEO van der Laan sees significant potential in the Gulf region, given its affluent clientele, and is considering market entry. A final decision is expected during 2026.

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