Executive Report news and archive

Estée Lauder names Shane Wolf as president global brands

The Estée Lauder Companies has appointed Shane Wolf as president, global brands, Aveda and Bumble and Bumble, effective July 1, 2024. Wolf, the company said, will report to Jane Hertzmark Hudis, executive group president, The Estée Lauder Companies, and join the company’s executive leadership team. The company added that with more than 25...

Business

Warby Parker's revenues increase by 16.3 percent

For the first quarter, Warby Parker's net revenue increased 28 million dollars or 16.3 percent to 200 million dollars. GAAP net loss for the quarter was 2.7 million dollars, gross margin increased 1.6 points to 56.7 percent, while adjusted EBITDA reached 22.4 million dollars and adjusted EBITDA margin was 11.2 percent. The company opened eight...

People

Cocoon Club names new chief executive

Cocoon Club, the luxury handbag membership business, has named Kate Rand, previously chief operating officer at Threads Styling, as its new chief operating officer. Rand, who has a track record of building and scaling growth businesses and experience in social commerce, succeeds Ceanne Fernandes-Wong, who co-founded Cocoon Club with Matt Heiman...

Business

Safilo sales hit by North America, lower Jimmy Choo sales

In the first quarter, Safilo's net sales amounted to 277.2 million euros, down 1.8 percent at constant exchange rates and 3.5 percent at current exchange rates influenced by the reduction in sales of Jimmy Choo. The company said in a statement that the other main drivers of the period were the weak performance of North America and the temporary...

Business

Shopify reports strong first quarter

Shopify’s first quarter gross merchandise volume (GMV) increased 23 percent to 60.9 billion dollars. Revenue also increased 23 percent to 1.9 billion dollars, translating into year-over-year growth of 29 percent after adjusting for the sale of logistics businesses. “Our outstanding Q1 performance is clear proof of our dedication to the new shape...

Business

Delta Apparel Q2 loss widens

Second quarter net sales at Delta Apparel decreased to 78.9 million dollars. Salt Life Group segment net sales declined to 15.5 million dollars compared to the prior year period, while net sales in the Delta Group segment declined to 63.4 million dollars. Gross margins for the quarter were 4.3 percent compared to 14.7 percent in the prior year...

Business

Burberry wins trademark infringement case in China

British heritage fashion house Burberry has been awarded six million renminbi (675,668 pounds) in damages in a Chinese trademark infringement case. Lusheng, a Chinese law firm and patent agency specialising in multinational intellectual property, helped Burberry win the significant trademark infringement case against Chinese company Xinboli...

Business

Mister Spex acheives Q1 sales growth of 2 percent

Omnichannel optician Mister Spex reported a 2 percent growth in the first quarter achieving sales of 51.1 million euros. The company said that the development in the key product categories was impacted by an earlier Easter, which negatively affected the number of working days and therefore, the production of prescription glasses. Commenting on...

Business

Lenzing's Q1 revenues improve by 5.7 percent

The Lenzing Group’s revenue rose by 5.7 percent to 658.4 million euros in the first quarter of 2024 driven by higher fibre sales volumes. The company said in a release that EBITDA for the quarter more than doubled to 71.4 million euros, while EBIT was slightly positive at 1.5 million euros compared with minus 41.4 million euros in the first...

Business

Revolve Group Q1 sales and earnings decline

Revolve Group’s first quarter net sales were 270.6 million dollars, a decrease of 3 percent. Net sales in April 2024 increased by a low single digit percentage, a sequential improvement compared to the trend reported for the first quarter of 2024. "We delivered significant expansion of our gross margin and year-over-year efficiency in our...

Business

Richemont acquires Italian jeweller Vhernier

Richemont has acquired 100 percent stake in Vhernier, the distinctive Italian jewellery maison, in a private transaction. Founded in Valenza, Italy in 1984 and headquartered in Milan, Vhernier was acquired by the Traglio family in 2001. Commenting on the acquisition, Johann Rupert, chairman of Richemont, said: “Maison Vhernier brings a...

Business

About You posts revenue and profit growth

The About You Group achieved revenue growth of 1.6 percent to 1,935.2 million euros and improvement in adjusted EBITDA to 3.2 million euros despite tougher-than-expected market conditions. For fiscal year 2024-2025, the company’s management board expects group revenue growth between 1 percent and 10 percent year-on-year and an increase in...