Alibaba has invested in luxury online wholesale fashion tech firm Ordre as the three-year-old company positions itself for major growth. Ordre said Alibaba is now “a strategic investor,” but the terms weren’t disclosed.
Matchesfashion went from strength to strength in the year that it was bought out with revenues up 44% and profits up 34%. And importantly, as much as 82% of its business was generated outside its home market, the UK.
American actress Meghan Markle picked a sleek sculpted dress by Givenchy creative head Clare Waight Keller for her wedding to Prince Harry and later changed into Stella McCartney, a label also chosen by other big names.
The Paris Court of Appeal has acknowledged the exclusive rights of designer Christian Louboutin for red shoe soles in a dispute pitting the label against Kesslord, a brand offering models with similar features for sale.
Luxury goods group Richemont said on Friday it could target strategic investments and divestments after buoyant jewelry sales made up for still sluggish watch sales, helping sales rise 8% in its fiscal year to March.
Global consumer demand for diamond jewellery hit $82 billion in 2017, up 2% from the previous year, with the US leading growth for the fourth consecutive year, according to a De Beers Group study published on Thursday.