Prada Group has finalized the acquisition of Versace for €1.25 billion, marking a major consolidation in the luxury fashion industry. This deal strengthens Prada’s position against competitors like LVMH and Kering while bringing Versace back under Italian ownership. The transaction highlights Prada’s commitment to preserving Versace’s iconic heritage and expanding its global influence.
The British Fashion Council (BFC) has announced the cancellation of the June 2025 London Fashion Week, traditionally dedicated to menswear. The event has seen declining visibility, with reduced attendance and media coverage compared to major fashion weeks like Paris or Milan. Additionally, rising costs and decreased visibility have led many British designers to opt out of the official schedule.
RETAIL
Lyst has been acquired by Japanese e-commerce giant ZOZO for $154 million. This strategic move aims to leverage technology to redefine how consumers discover and shop for fashion online. The acquisition combines ZOZO’s e-commerce expertise with Lyst’s personalized shopping experience powered by AI and big data.
NOMINATION
Victoria’s Secret has appointed Adam Selman as its new Executive Creative Director. This marks the first time the brand has chosen a designer for this executive position. Selman, known for designing iconic costumes for celebrities like Beyoncé and Katy Perry, previously held the role of Chief Design Officer at Savage x Fenty, Rihanna’s lingerie brand.
LUXURY
Chanel has appointed Belgian singer Angèle as the face of its latest fragrance, Eau Splendide. This collaboration highlights Angèle’s longstanding relationship with the luxury brand, having previously served as the ambassador for Chanel’s Coco Beach campaign in 2021.
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