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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Designer Brands Inc., the Columbus, Ohio-based owner of the DSW Designer Shoe Warehouse, The Shoe Company and Shoe Warehouse retail chains, announced on Tuesday that net sales decreased 3.2% in the third quarter ended November 1.
Designer Brands Q3 sales dip 3.2%. – DSW
The company achieved net sales of $752.4 million. Comparable sales fell by 2.4%, with the U.S. retail segment down 1.5%, Canada retail down 6.6%, and the brand portfolio segment’s direct-to-consumer channel plunging 21.5%.
Reported net income attributable to the company reached $18.2 million, or $0.35 per diluted share. Adjusted net income was $19.6 million, or $0.38 per diluted share.
“Our third quarter performance represents another meaningful step forward in our transformation, as we demonstrated continued sequential improvement across multiple financial and operating metrics,” said Doug Howe, chief executive officer.
“Stronger consumer demand and improved in-store execution drove improved comparable sales in the third quarter compared to the second quarter. Our team also delivered a meaningful increase in gross profit and diligently managed expenses, which helped drive an increase in operating income over last year.”
Looking ahead, the company expects net sales to decline between 3% and 5% in fiscal 2025. Adjusted operating profit is projected in the range of $50 million to $55 million.
Howe added, “I’m encouraged that this positive momentum has extended into the early part of the fourth quarter, reinforcing the progress of our strategic initiatives and positioning us well as we close out the year. While macroeconomic pressures persist, we are confident in our ability to navigate the near-term environment and continue making progress on our long-term strategies.”
In 2025, Zalando has stepped up its pace in the Iberian Peninsula with two key moves: it entered Portugal and expanded its offering in Spain with the launch of its beauty category there. These two developments align with the German platform’s ambition to be more than a purely transactional tool; it aims to be a place of inspiration and entertainment for its customers.
Zalando takes stock of 2025 in the Iberian Peninsula – Shutterstock
One of Zalando’s milestones on a global- and, of course, Iberian- scale was its entry into Portugal last October, a launch accompanied by its suite of technological tools, such as its AI assistant, available in Portuguese, and partnerships with local brands to help them, in a two-way relationship, reach a European audience.
Portugal is the company’s 26th market, and its activities in southern Europe are grouped within the cluster led by Eloisa Siclari, which includes Portugal, Spain, and Italy. Portuguese customers have access to a catalogue of more than 200,000 items and, although it has been operating in the country for just over two months, the European giant notes Portuguese consumers’ strong propensity to shop the streetwear category.
Zalando’s arrival in Portugal also strengthens the link between the Portuguese and Spanish markets: the platform’s logistics centre in Illescas (Toledo) serves Portuguese customers, cementing the complex’s status as “a key logistics hub in southern Europe.” The same centre has expanded its operations in recent months into the beauty category, supporting the German e-tailer’s expansion into this segment.
New key partnerships in the Spanish market
Zalando describes Spain as “a fundamental market,” both for its potential and because Spanish brands are “a key growth driver” for the platform and a “valuable asset” for its customers. In 2025, the German company signed agreements with Spanish labels such as Bimba y Lola, Hoff, Aristocrazy, Tous, Brownie and, more recently, Unode50.
The company maintains that brands find in it not only another sales channel, but a “gateway” to more than 52 million customers in the continent’s key markets. It illustrates this with the performance of Singularu, a Spanish jewellery brand with 80 stores in Spain and turnover of €30 million in 2024, which is relying on the German giant for its European expansion in e-commerce. According to figures provided by Zalando, the jewellery brand grew 117% year-on-year in 2025 on the platform, with more than 10 million visits (up from 5.7 million a year earlier), and 74% of its sales via the e-tailer coming from Germany, Belgium, Poland, and Italy.
Singularu is one of the Spanish brands featured on Zalando
“6% of the audience with brand affinity interacts with Singularu; in other words, the brand already ‘resonates’ on Zalando, but there is still much to capture by expanding coverage to audiences adjacent to trend-led jewellery,” explained the business.
“On a platform it’s difficult to project what your brand is all about, but Zalando allows us to reach audiences we can’t access otherwise. And we can do that with our visual proposition and by deciding what we want to communicate. We are very happy with this relationship, which is increasingly close, and the results back it up,” said Fernando Peris, vice-president of e-commerce and marketplaces at Singularu.
“Why does Zalando choose to collaborate with local brands? In Spain, for example, consumers demand Spanish brands. It is beneficial for them, but also for us as a platform. The fact that local brands have an international clientele is also a success; there are brands with a lot of potential. And there is some national pride there,” said Eloisa Siclari, Zalando’s managing director for southern Europe.
Also in 2025, Zalando marked one year since the launch of its revamped Plus programme in the Spanish market, rolled out in summer 2024. By 2026, it plans to expand the programme and offer customer experiences, “going beyond transactional benefits”.
And beyond Iberia? Next year is shaping up to be one of expansion for the European company: it plans to enter new markets, as well as strengthen its in-house logistics and bolster its operations.
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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.”