Delvaux news and archive

Chronic deficits and recapitalisations: The challenge of Richemont's 'Soft Luxury' division

Swiss leader Richemont, driven by the strength of its jewellery houses, is seeing the weaknesses of its fashion and accessories division intensify. Amid repeated capital injections and slowing growth, the group faces a structural profitability challenge. While the strength of Richemont's jewellery and watchmaking divisions is well-established,...

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Richemont forgives 100 million euros of debt for Belgian brand Delvaux

Belgian luxury brand Delvaux has had its financial burden lightened. Parent company Richemont has forgiven 100.6 million euros (118.7 million dollars) of its debt, according to a report by Belgian business-focussed newspaper De Tijd. The debt has been converted into shares. This move strengthens Delvaux's balance sheet. It is not the first time...

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Delvaux names new chief brand officer

Delvaux has a new chief brand officer at the helm. Ermanno Piraes has been named to the position, marking the latest executive shakeup since the brand was acquired by Richemont. Previously, Piraes worked as press director of Fendi, but he is no stranger to Delvaux. He joined Delvaux over a decade ago before his stint at Fendi. Piraes joins the...

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Delvaux gets new old CEO

Jean-Marc Loubier, the former CEO of Delvaux who helped the brand expand through the 2010s, is now returning to the Belgian fashion house for a second round as CEO. Delvaux is now owned by luxury conglomerate Compagnie Financière Richemont, the owners of other brands including Chloé and Cartier. The news was reported by WWD. Loubier returns to...

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Richemont acquires Belgian luxury goods house Delvaux

Switzerland-based luxury giant Richemont has acquired a 100 percent stake of Delvaux, the renowned Belgian luxury leather goods company, in a private transaction. Commenting on the acquisition, Philippe Fortunato, CEO of fashion and accessories maisons at Richemont, said: “Delvaux’s rich archives and creative momentum over the last 10 years...