Fashion search platform Lyst has confirmed a new round of financing on the part of luxury giant LVMH. While the terms weren’t disclosed, various reports put the amount both at “over” or “below” $60 million.
Online luxury retailer Yoox Net-a-Porter (YNAP) will be delisted from the Milan Stock Exchange on June 20 after Cartier owner Richemont reached nearly 95 percent of YNAP’s ordinary shares after a takeover.
Richemont has launched a new watch brand, Baume, offering trendy time pieces priced in the hundreds rather than the thousands of dollars to lure young people away from using their smartphones to tell the time.
Tom Athron has been appointed as new chief operating officer, and Lea Cranfield will take up the role of commercial director. Kim Hartlev will become new chief technology officer at the luxury company.
The luxury accessories brand Montblanc has seen sales in smaller Indian towns grow through its joint venture with the Indian watch brand Titan and has named India as its fastest growing global market.