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Prada profit surges 21% as speculation swirls over Versace bid

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March 4, 2025

Italian luxury group Prada on Tuesday reported 21% growth in operating profit last year, in line with analysts’ forecasts, amid speculation about a potential acquisition of smaller rival Versace.

The group, which has been defying a slowdown in luxury demand and outperforming many of its peers, reported a 17% increase at constant exchange rates in net revenues in 2024, reaching 5.43 billion euros ($5.72 billion) and matching analysts’ expectations, according to data from LSEG.

Bloomberg News reported on Sunday that Prada is moving closer to a deal for Versace after agreeing to pay nearly 1.5 billion euros ($1.6 billion) for the business founded by the late Gianni Versace in the 1970s, where his sister Donatella has been the creative head for more than two decades.
Italian newspaper Corriere della Sera reported on Tuesday that Prada is interested in the acquisition of both Jimmy Choo and Versace from Capri Holdings for a total outlay of between 1.5 billion euros and 2 billion euros.

The statement made no mention of the reports of a potential Versace deal and Chief Financial Officer Andrea Bonini said, “we don’t comment on rumours” when asked on a conference call about links to Versace and Jimmy Choo.
Revenues grew by double figures across all regions, with the exception of the Americas region, which reported a 9% growth thanks to an improvement in the second half of the year.

The Asia Pacific region saw a good performance over the year, with 13% growth, with an improvement in the last quarter across all main areas.
In the fourth quarter itself, retail sales, which account for most of the total sales, rose 18%, thanks mainly to the smaller Miu Miu brand. Growth at Prada’s main brand was more moderate, around 4% year-on-year in the period.

“Looking forward, while being mindful that the complex industry dynamics are likely to persist, our priorities remain unchanged,” said Chief Executive Andrea Guerra.

“At Prada, we have a clear opportunity to continue to drive market share, while at Miu Miu we shall consolidate its success,” he added.
The group had a net cash position of 600 million euros at the end of December, which could help to fund a potential acquisition. ($1 = 0.9485 euros) (Reporting by Elisa Anzolin Editing by Keith Weir)

© Thomson Reuters 2025 All rights reserved.



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Ann Summers complains to CMA about impact of Google Safe Search on its visibility

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Lingerie and sex toy specialist Ann Summers has accused Google of product discrimination saying the tech giant’s pornography-related filters are erasing it from search results.

Ann Summers

It also said shoppers were being “directed to our competitors instead”, citing M&S, Boots and Amazon as examples that weren’t being subject to the same restrictions despite selling similar products, reported The Telegraph.

The retailer has complained to the Competition and Markets Authority (CMA) that Google was “distorting” its market by virtually blacklisting the website with its SafeSearch feature that Google introduced in 2009. It eliminates adult websites from search results as well as blurring explicit photos in image results. It’s an optional feature but comes as a default option from many internet providers.

Ann Summers, which also mentioned issues with search when it filed its accounts recently, said that its website was hidden from search results even for those customers directly looking for the company’s products. 

“This is having a distorting effect on the market,” it wrote in a CMA submission seen by the newspaper. “For users with SafeSearch on, including those who have not explicitly chosen this feature, they cannot find us via Google Search, the biggest search engine.”

“Our lingerie product offering is similar to our competitors, but we are penalised where they are not,” Ann Summers said.

An Ann Summers spokesman said: “For years, Google SafeSearch has imposed restrictions that has reduced the visibility of our website in search engines, which has resulted in a greater volume of customers unable to find our website.

Google has yet to comment.

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Wilkinson Sword aims to widen user group with entry into men’s grooming

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UK shaving brand Wilkinson Sword is moving into the male grooming category with the launch of its new pre- and post-shave range.

As the longest-standing shave brand in the UK (250 years’ experience in blade making), it said the £46 million shave prep market “presents the perfect opportunity for Wilkinson Sword to drive innovation and growth”.

It also said the move into the sector is prompted by research showing that 42% of UK males use inadequate or no shaving preparation and that 67% of prep users are aged over 45… “[so] Wilkinson Sword is well-positioned to boost penetration by recruiting younger customers”.

The new range directly addresses key purchase drivers for men seeking products to address skin-related issues such as getting a closer shave, skin irritation and comfort, while offering these solutions at an accessible price point.

The range, which features Shave Foam (200ml, RRP £3), Shave Gel (200ml, RRP £3), and After Shave Lotion (100ml, £5), comes packaged in a sleek green and matte black colour scheme “strengthening its brand identity across its product range”.

As is expected these days, the products are dermatologically tested and alcohol free, while ingredients include Pro Vitamin B5 (shaving foam and gel) and Vitamin E and Argan Oil (after-shave lotion).

The range, which is phasing into stores now and is currently available at Tesco and Superdrug, will be using the brand’s new ‘Prepare, Shave, Care’ messaging in selected retailers to highlight the full regime it now offers, including free-standing units, branded product trays, and POS media.
 
The launch follows the brand’s major relaunch last year with a high-impact ‘The Blade Masters since 1772’ campaign.

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Levi’s onboards Diljit Dosanjh as global brand ambassador

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Global denim brand Levi’s has onboarded Indian music artist and actor Diljit Dosanjh as its new brand ambassador.

Levi’s onboards Diljit Dosanjh as global brand ambassador – Levi’s

With this association, Levi’s aims to tap into the Punjabi artist’s cross-border influence and popularity to further fuel growth of its denim range.

Dosanjh will be seen endorsing the brand’s menswear range, including new loose and relaxed fits, reflecting the singer’s personal style.

Commenting on the association, Diljit Dosanjh in a statement said, “I’ve always admired Levi’s for the way it blends heritage with modern style. Denim is more than just clothing to me—it’s a statement. Partnering with Levi’s feels like the perfect fit.”

Amisha Jain, managing director South Asia at Levi Strauss & Co added, “Diljit Dosanjh perfectly embodies the progressive spirit of Levi’s. His phenomenal journey perfectly aligns with our brand’s spirit of empowering self-expression through music, fashion, and culture. Together, we’re set to create something truly iconic.”

Following the massive success of Dosanjh’s ‘Dil-Luminati Tour’ merchandise, Levi’s expects this collaboration to boost sales of its denim range across the globe.

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