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Damiani tops €380 million revenue mark in fiscal 2024-25

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4 days ago

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Translated by

Nicola Mira

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March 28, 2025

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.

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Hermès reopens store in Taichung, Taiwan

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5 hours ago

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March 31, 2025

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Hermès announced on Monday the reopening of its reimagined store in Taichung, Taiwan.

Hermès reopens store in Taichung, Taiwan. – Hermès

First opened in 2012, the newly transformed boutique, designed by the Parisian architecture agency RDAI, celebrates the maison’s sixteen métiers in a space inspired by Taiwan’s local tea plantations. 

The store’s exterior is characterized by a solid terrazzo-finish concrete façade softened by flowing curves reminiscent of traditional Asian architecture. 

Stepping inside, visitors are greeted by a fresh, airy ambiance highlighted by soft green walls that capture natural light. The journey through the store starts with the silk universe for women and men, as well as the perfume and beauty areas. It is followed by an abstract moss-green carpet accentuating men’s ready-to-wear and shoes. To the left, rust tones draw warmth into the leather goods and equestrian area, while jewellery and watches are housed towards the far side, which includes a private salon bathed in bright amber.

A woven staircase leads to the home collection, where dune rattan walls and light-reflecting round mirrors set the scene. Past the fashion jewellery area, the women’s ready-to-wear and shoe sections can be found among marbled rugs evoking the dance of tea leaves in water. 

Completing the space is a curated selection of artworks from the Émile Hermès collection and contemporary photography, as well as the store’s window displays, created in collaboration with local Taiwanese artist Sheng-Wen Chen.

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CaaStle CEO Hunsicker resigns over fraud claim as firm teeters

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5 hours ago

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March 31, 2025

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Bloomberg

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April 1, 2025

Retail entrepreneur Christine Hunsicker has resigned from her position as chief executive officer of CaaStle after the fashion-technology startup’s board of directors alleged she misrepresented the company’s performance to investors, according to a March 29 letter to shareholders seen by Bloomberg News.

Bloomberg

CaaStle faces “a severe and immediate liquidity problem,” and the board is considering options including a possible wind down, liquidation or strategic transaction, according to the letter. The company is planning a two-week-long furlough for its employees. Law enforcement authorities are also investigating the matter and the company is cooperating, the letter said.

Hunsicker didn’t respond to calls and emails seeking comment.

“The performance to date has not matched what Christine claimed — we have learned that Christine provided certain investors with misstated financial statements and two falsified audit opinions, as well as capitalization information that understated the number of company shares outstanding,” the letter said.

“The board is deeply disappointed by the conduct that has led to this moment,” a representative for CaaStle said in a separate statement to Bloomberg. “Our immediate focus is on addressing the company’s challenges, supporting our employees, and preserving the value of our technology and business operations.”

The board has appointed George Goldenberg, the firm’s chief operating officer and board member as interim CEO, according to the letter, details of which were first reported by Axios.

CaaStle, based in New York, began as Gwynnie Bee Inc. in 2011 and changed its legal name in 2018, according to an auditor’s report attached to the letter. It provides rental subscription services for owned and third-party retailers. The company has retained ICR for restructuring and strategic communications advice, according a person familiar with the matter, who asked not to be named discussing confidential information. 

Hunsicker also co-founded P180 with Brendan Hoffman, which aims to invest in or acquire brands and retailers to use CaaStle technology, according to a 2024 press release. In January, P180 announced that it had acquired a majority stake in Vince Holding Corp., which operates the Vince brand.



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Guess Jeans partners with Japanese artist Verdy

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6 hours ago

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March 31, 2025

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Guess Jeans announced on Monday a new creative partnership with Japanese multi-hyphenate artist Verdy.

Guess Jeans and Nicolai Marciano announce a new creative partnership with Japanese multi-hyphenated artist Verdy. – Guess Jeans

Recognized as a creative pioneer in Japan, Verdy is set to reimagine and enhance the Guess Jeans global universe, bringing a new energy into the brand’s expansion in Japan. 

“I’ve had the pleasure to know and be friends with Verdy over the years. I’ve always admired his kindness and ability to bring a fun and playful element to everything he touches,” said chief new business development officer Nicolai Marciano. 

“Pursuing a major shift in our strategy in Japan, which is now focused through a Guess Jeans lens, I felt strongly about bringing Verdy in for this exciting new chapter.” 

Since 2023, Guess Jeans has cultivated an ongoing relationship with Verdy through a series of activations across Paris and Osaka.

His portfolio includes projects such as Girls Don’t Cry and Wasted Youth, along with his beloved characters Vick and Visty. He has collaborated with brands such as Nike, Human Made, Kenzo, Beats by Dre, McDonald’s, Instagram, and Dover Street Market. Verdy has also held prominent roles as the artistic director for ComplexCon Long Beach 2022, ComplexCon Hong Kong 2024, and Blackpink’s Born Pink tour.

“I’m excited to be working with Guess Jeans and my good friend, Nicolai. I’ve always respected how much passion he and his family have put into the brand. Guess has so much history and culture and I’m happy to be a part of it,” added Verdy.

Most recently, Marciano, who has been instrumental in Guess Jeans’ global expansion, curated key brand activations in 2024, launched flagship stores in Amsterdam and Berlin, and led the brand’s entry into India through a partnership with Tata Unistore.

Looking ahead, Guess Jeans is set to open flagship stores in Tokyo and Los Angeles.

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