Iconic Luxury Brand Confirms More Store Closures Through 2027
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64-year-old luxury giant closes at least 217 stores, plans more
“Luxury goods are the only area in which it is possible to make luxury margins,” said Bernard Arnault, CEO of LVMH, the world’s largest luxury group behind powerhouses such as Louis Vuitton, Christian Dior, Fendi, and Givenchy. Arnault may be…
The Prada Group continues to reorganize its Versace retail network. The group has announced further store closures until 2027, while preparing the brand for a new phase of development under the leadership of a new creative director.
Iconic luxury brand confirms more store closures through 2027
Luxury fashion retailers are accelerating store closures as slowing demand, economic uncertainty, and shifting consumer spending force even the industry's biggest names to rethink their global footprints. Over the past year, several luxury companies have announced plans to shrink their…
15 Giglio employees are being laid off. Giglio SpA sent the unions notice of the collective layoff today. The reasons for the staff reduction are "corporate instability, attributable to the reduction in sales volumes." The Palermo-based luxury emporium, which sells iconic high fashion brands [...] The article "Crisis in the air in Palermo's luxury hub: Giglio announces 15 layoffs and closes two stores" comes from Diretta Sicilia.
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