It could be a big year for Superdrug and The Perfume Shop owner AS Watson, as well as for the London Stock Exchange, with news that Watson’s owner is planning a London IPO.
Image: Superdrug
It’s been reported that bankers have already been appointed for the share listing by the Hong Kong-based group that’s owned by CK Hutchison holdings Ltd.
Onwed in its turn by billionaire Li Ka-shing, it’s said that it would actually be a dual listing, happening in Hong Kong as well as London, according to people familiar with the matter who declined to be identified in an initial report by Bloomberg.
Bloomberg News had previously flagged a potential IPO that could raise as much as $2 billion. But the sources said the timing and size of the IPO haven’t yet been decided. And the entities concerned haven’t commented so far.
Superdrug and The Perfume Shop are two of the major beauty retailers in the UK, but the wider business operates in 31 markets with 17,000+ stores. Other chains include Germany’s Rossmann and Watsons that operates across Asia.
Superdrug’s sales last year added up to £1.6 billion last year, which means it’s number two in the UK but still quite a long way behind the giant Boots business, although it’s growing strongly.
If its parent listed on the LSE, it would be a big boost for London as a financial centre. It has lost its crown as the key location for listings in recent years and seems to have lost out on what would have been an undeniably controversial listing for Shein in recent periods.
AS Watson would be far more palatable and its arrival on the LSE would set the seal on London’s fightback, especially after last year’s surge in valuations for company’s on its elite FTSE 100 index.
Roberto Cavalli has announced the opening of a new boutique at Via Santo Spirito 24 in Milan, in the heart of the Quadrilatero della Moda. The location also becomes the hub of the Roberto Cavalli Atelier, the Maison’s “temple of haute couture,” where the house’s creations have always come to life. Covering 160 square metres, the new store opens onto the street with a glass-fronted entrance and two flanking display windows; the interior design blends historic elements of Milanese architecture- as the original marble terrazzo flooring with decorations typical of early 20th-century Milan- with a contemporary language aligned with the Maison’s aesthetic.
The new Roberto Cavalli store on Via Santo Spirito in Milan
The interiors are characterised by a neutral, luminous palette, with warm white walls paired with Roberto Cavalli Home beige fabric-effect wallpaper while furnishings and garment rails in polished champagne gold create a sophisticated atmosphere. The focal point of the space is a semi-circular wall clad in Roberto Cavalli Home wallcovering, embellished with the maison’s logo in polished gold, which shapes the layout and introduces the various retail areas; accessory tables in champagne gold and glass, perimeter rails, and integrated changing rooms guide customers through the shopping experience. A second level, dedicated to accessories and footwear, is arranged around a central relaxation area and is complemented by display systems for eyewear and belts.
Louis Vuitton has announced the opening of a pop-up store in New York, open until April and devoted entirely to its monogram, to celebrate the 130th anniversary of the French maison’s iconic motif. Located in SoHo and hotel-inspired, the pop-up offers a series of immersive spaces dedicated to the maison’s most celebrated designs: Speedy, Keepall, Noé, Alma, and Neverfull, as well as exclusive new editions of the monogram.
Louis Vuitton’s pop-up in New York
Visitors can explore the Keepall Lobby and the Noé Champagne Bar before heading to the Alma Terrace, while a dedicated service area showcases Louis Vuitton’s savoir-faire and allows customers to bring their bags in for repair. Visitors can also take advantage of personalisation services, including hot stamping and distinctive patches, offered exclusively at the pop-up.
Spanish label Loewe is continuing the global expansion of its Casa Loewe concept by opening a new boutique in Tokyo’s Ginza district, strengthening its presence in Asia with a space that is the brand’s second-largest store worldwide.
Loewe arrives in Ginza, Tokyo
The new boutique reinterprets the brand’s Spanish heritage through the lens of Japanese design, with a palette of greens, earthy materials, and a façade clad in handmade ceramic tiles. Defined by a warm, luminous aesthetic, the Casa Loewe concept was first unveiled in 2016 at the brand’s flagship in Madrid; since then, it has gradually expanded to several major cities internationally, with notable openings in Seoul, Chicago and, most recently, Shanghai.
Polène, a French leather goods brand founded in 2016, has chosen Milan to inaugurate its first Italian boutique, at 37 Via Alessandro Manzoni, adding to the stores already present in Paris (two standalones and a corner inside the Le Bon Marché department store), New York, Tokyo, Seoul, London, Hamburg, Copenhagen, and Beijing (the last two both opened last November).
Polène’s first Italian boutique is on Via Manzoni in Milan
Conceived by Norm Architects, the project draws on Milanese architectural codes: understated, discreet façades and bright, detail-rich interiors. The 343-square-metre boutique is entered via a stone-dominated entrance inspired by Milanese flooring, followed by a space dedicated to textiles that leads into the world of leather; finally, the last area is clad in ceramics. The Craft at Work immersive experience extends the exploration with the Leather Orchestra: in a small dedicated space, visitors become conductors of an ensemble of leather panels, where material and sound meet in a unique performance.
The German chain dm will open its second store in Ravenna on January 15, a 550-square-metre space inside the Teodora Shopping Centre, reaching 96 stores in Italy and 11 in Emilia-Romagna.
dm opens second store in Ravenna
“Every new opening is, first and foremost, an opportunity for us to build relationships and create value locally,” said Benjamin Schneider, CEO of dm Italia. “Being present in Ravenna with a second store… represents a concrete investment at the local level: nine employees will work there, within an environment that is consistently attentive to continuous training and service quality, hallmark elements of the dm approach, and its corporate culture.”
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AquascutumActive, the sportswear line of the historic British brand founded in 1851 by John Emary (now owned by China’s Shandong Ruyi Group), ended 2025 with turnover of €6 million (40% generated in Italy), up 66.7% on the previous year. Launched in 2023, the line was conceived by Rome-based company Icon, which holds the manufacturing and distribution licence.
Aquascutum Active, AW 2026-27
“We proposed to the parent company that we take this heritage brand into advanced sportswear by using technical fabrics, more modern fits, and high-performance, sustainable, non-animal padding,” explains Damiano Ferretti, owner of Icon, to FashionNetwork.com. “The collection includes outerwear, with both urban and sportier lines; our plan is to introduce professional sports apparel- football, for example- by creating a dedicated division. For now, the line is menswear only, but already 20% of our clientele is female, who appreciate our more genderless offerings; for SS 2027 we will introduce a dedicated womenswear capsule.”
Starting with a focus on outerwear, over time Aquascutum Active-whose production is split between the Mediterranean basin (Italy, Albania, Turkey, Tunisia) and China- has evolved increasingly towards a total look: the AW 2026-27 collection comprises 120 styles, 30% of which are outerwear. Positioned in the premium segment, prices range from €250 to €800 for jackets, €55 to €85 for T-shirts, and €80 to €130 for polo shirts.
“We aim for a premium segment but with competitive prices,” the entrepreneur notes. “Today we are in 450 upper-mid to high-end stores, 280 of them in Italy. Internationally, we are present in the UK, the Netherlands, Belgium, Germany, France, Spain, and Eastern Europe; within a couple of seasons we aim for full coverage of Europe. In addition, we are entering Japan and North America, and we have a direct e-commerce site operating worldwide, which accounts for 15% of sales and is growing rapidly.”
Aquascutum Active, AW 2026-27
From a stylistic perspective, starting with AW 2026-27 Aquascutum Active has begun a collaboration with Alessandro Pungetti, a leading figure in advanced sportswear, which is set to continue in the coming seasons. In addition, at Pitti Uomo 109 the brand is presenting a capsule with Societas, the label founded by Mirko Borsche, a designer recognised globally for redefining the relationship between football, fashion and visual culture.
The project draws on a creative universe deeply connected to English football, not as a mere sport but as a cultural phenomenon. As part of the collaboration, the trench coat- an emblem of Aquascutum Active- is reimagined through contemporary materials and construction: the silhouette meets a softshell bonded with fleece, creating a technical yet sophisticated garment designed for modern urban life; inside, custom heat-sealed seams carry the brand’s logotype as a hidden detail.
In addition, the historic Club Check is reinterpreted through a secondary colour palette of red, white, and navy, while the football shirt, a central element of the capsule, takes inspiration from England’s mid-1990s away kit: a contemporary reinterpretation filtered through the graphic rigour and visual sensibility of Aquascutum Active and Societas.
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Revenues at Italian luxury group Brunello Cucinelli rose 11.5% at constant exchange rates last year, in line with its most recent guidance, boosted by solid growth across all regions, and particularly in the Americas and in Asia.
Brunello Cucinelli is known for its Made in Italy designs
The cashmere brand, the first in the luxury sector to report 2025 preliminary sales, said on Monday its revenues rose to 1.41 billion euros ($1.65 billion) last year and reaffirmed that revenues would increase by 10% in 2026.
The company, which stands out in a luxury sector hit by slowing demand thanks to its focus on wealthier consumers, reported a 11.9% increase in turnover in the fourth quarter alone. Both the retail and wholesale channels contributed to the sales growth, though the latter at a more moderate pace.
In December, Cucinelli, whose cashmere jumpers can cost several thousand euros, raised its revenue growth forecast for 2025 to between 11% and 12% at constant exchange rates. The business has also recently confirmed its strong emphasis on the wholesale channel, seeing it as a good sales driver despite the challenging retail landscape.