Author name: Kimberly Lee

Today, LVMH announced the eight designers shortlisted to compete for the 11th edition of the LVMH Prize for Young Designers, Karl Lagerfeld prize and inaugural Savoir-Faire Prize for craftsmanship. The finalists are Julian Louie’s Aubero, Duran Lantink, Ellen Hodakova Larsson’s Hodakova, Marie Adam-Leenaerdt, Niccolò Pasqualetti, Paolo Carzana, Pauline Dujancourt and Standing Ground by Michael Stewart. […]

PARIS — Kering’s first-half profits are likely to drop by 40 to 45 percent, the French owner of Gucci and Saint Laurent said Tuesday. The group provided the guidance, which fell far below expectations, while releasing first-quarter sales numbers that confirmed a forecast for a sharp slowdown issued last month. Revenues fell 10 percent on

Fintech lender Affirm has started quietly offering “buy now, pay later” loans for elective medical procedures, in a major push beyond its core e-commerce market, the company told Reuters. Over the past year, Affirm has more than doubled the number of elective medical merchants on its network, reaching around 130 at of the end of

🇿🇦 South African Fashion Week proves its regional clout with new showcase. The biannual event, which took place this season from Apr. 18 to 20, saw local designers such as Mzukisi Mbane’s label Imprint, Fekile, Belhauzen, Bam Collective, Black Coffee, Viviers, Heart & Heritage and Helon Melon present their latest collections, and Oddity walk away

Valentino’s revenues fell 3 percent at constant exchange rates to €1.35 billion ($1.44) last year, the Roman fashion house said Tuesday. Operating profit fell 18 percent to €99 million. The drop was driven by a “challenging” European market in the second half of the year, as well as efforts to reduce its exposure to wholesalers. Direct

Fashion’s biggest sustainable cotton certification scheme is planning to expand its due diligence requirements following allegations that farms covered by its standard contributed to serious environmental and human rights abuses in Brazil. According to an investigation published earlier this month by the NGO Earthsight, Better Cotton-certified farms were linked to large-scale deforestation, land grabbing and