Latest news with #StoneIsland
Yahoo
a day ago
- Business
- Yahoo
Ermenegildo Zegna Group Inks Agreement to Sell Stake to Temasek
MILAN – Capitalizing on the momentum of its brands, the Ermenegildo Zegna Group is welcoming a new partner. Zegna has inked an agreement to sell 14.1 million shares to Venezio Investments Pte. Ltd., an indirect wholly-owned subsidiary of Singapore-based investment company Temasek Holdings. More from WWD Inside the Larger-than-life Legacy of C.P. Company and Stone Island Founder Massimo Osti Zegna to Bring Environmental Conservation Initiative to Aspen Mitchells Hosts Top Italian CEOs for Celebratory Dinner in Milan The price was pegged at $8.95 a share, an average of Zegna share prices over the period from June 30 to July 25, so that upon the closing, expected on Wednesday, the Italian group will receive a total of $126.4 million. Zegna is publicly listed on the New York Stock Exchange and Temasek previously acquired 12.7 million ordinary through market purchases. After the closing of the transaction, Temasek will owm a total of 26.8 million shares, equivalent to 10 percent of Zegna. 'I am delighted to welcome Temasek as a strategic investor in our group's shareholder base,' said Gildo Zegna, chairman and chief executive officer of the group. 'Their investment is a strong endorsement of our vision and long-term growth potential, while firmly recognizing the global significance of the Italian luxury sector. With Temasek's partnership, we are even better positioned to help strengthen our organic expansion globally and to reinforce our unique role as a custodian of truly authentic brands.' Nagi Hamiyeh, head of EMEA of Temasek, stated that the Zegna Group 'has successfully established itself in the high-end luxury segment and presents significant long-term value creation opportunities across each brand. Our investment in them underscores our ongoing commitment to support leading European businesses with strong track records and global potential.' Hamiyeh concluded by saying that Temasek will be 'a thoughtful, long-term partner to the Zegna family and management team, empowering them to execute on their growth strategy and supporting their vision to elevate their iconic brands and global footprint.' In a statement, Zegna said 'the enhanced financial flexibility will allow the group to carefully seize selected opportunities for accelerating the organic growth of the current brand portfolio.' It pointed to Temasek's 'wealth of experience in the luxury sector and deep knowledge of the Asian market' contributing to the Zegna group's 'growth prospects and support the expansion in key geographies' where it is still underdeveloped. Hamiyeh is expected to join the Zegna Group's board of directors in June 2026. Temasek has a wide range of investments in different business, among which are Amazon, Visa Inc. and Singapore Airlines. It had previously invested in Stone Island and Li & Fung. Best of WWD EXCLUSIVE: Sean Combs Regains Control of Sean John Brand Isabel Marant Said in Play Again: Sources Holding Industriale Invests in Shoe Specialist Valmor
Yahoo
7 days ago
- Business
- Yahoo
Moncler Group Reports Flat First-half Revenues
MILAN – Moncler Group's revenues in the first half of 2025 remained in line with the same period last year, but profitability was dented in the period. In the first six months ended June 30, sales were flat, reaching 1.23 billion euros, but at constant exchange rates they rose 1 percent, in line with consensus. More from WWD Bluestar Alliance Charts New Chapter for Palm Angels With Strategic Leadership Appointments Musician Tobe Nwigwe Talks Trailgrip Sneaker Collab With Moncler at NYC Event Stone Island Strengthens Commitment to China With Flagship Openings, Strategic Investments 'The first half of the year reminded us once again how unpredictable and complex the world can be, and how companies must remain vigilant and agile while continuing to nurture their brands,' stated Remo Ruffini, chairman and chief executive officer of the group. 'These are moments that require full focus on the execution of our strategy, with strong discipline, rigor, as well as flexibility. These are also times when we have to continue strengthening our brands through distinctive creativity, the relentless pursuit of product excellence, and by sharing energy with our communities. Amid ongoing macroeconomic uncertainty, our group will continue to operate with consistency and resilience — guided by a clear vision, deep awareness of the present, and the ambition to turn external challenges into future opportunities.' Group operating profit fell 13 percent to 224.8 million euros from 258.7 million euros in the same period of 2024, with a margin of 18.3 percent compared with 21 percent, mainly due to a different phasing of marketing expenses in the first half versus the second half compared with the previous year. Net profit amounted to 153.5 million euros, down 15 percent compared with 180.7 million euros in the first half of 2024. During a conference call with analysts at the end of trading on Wednesday, Roberto Eggs, chief business strategy and global market officer, highlighted a slowdown in tourism, especially from Chinese, Americans and Koreans in Europe, who represent around half of sales in the Continent, affecting the performance. He touted a 'positive U.S. cluster and local consumption' there, but said this was 'much less' strong in Europe. Likewise, the Chinese cluster in China was positive or flattish. Local spending in Europe was also flattish, he said. The group reported that 'in Korea there has been a return to some tourism from China, with a small recovery,' but that Japan was registering a negative performance, mainly due to currency effects. He said that the second and third quarters are the most exposed to tourism for the group and that the 'situation is quite volatile, from day to day and week to week.' Both Eggs and Luciano Santel, group chief corporate and supply officer, highlighted the limited visibility ahead given the uncertain macroeconomic and geopolitical factors. By brand, Moncler sales in the first half were flat at 1.04 billion euros. Stone Island revenues inched down 1 percent to 186.7 million euros, compared with 188.9 million euros in the same period of 2024. In the second quarter, group revenues were down 1 percent at constant exchange rates to 396.6 million euros, compared with the same period of 2024. In the second quarter, Moncler revenues amounted to 317.2 million euros, down 2 percent at constant exchange rates, mainly due to a sequential slowdown in the DTC channel, reflecting challenging macroeconomic conditions globally. In the second quarter, Stone Island revenues amounted to 79.4 million euros, up 6 percent at constant exchange rates, with the DTC channel maintaining solid growth and the wholesale channel improving sequentially. In the first half of 2025, Moncler revenues in Asia (which includes Asia-Pacific, Japan and Korea) amounted to 525.7 million euros, rising 2 percent compared with the same period of 2024. At constant exchange, they were up 4 percent. In the second quarter, revenues in the region were flat at constant exchange rates. The deceleration compared to the first quarter of the year was mostly due to softer tourist flows in Japan, which faced a high comparable base. Korea slightly improved sequentially, supported by stronger tourism spending, while China and the rest of Asia held up versus the previous quarter. The Europe, Middle East and Africa region saw a 4 percent decrease to 365.4 million euros. In the second quarter, revenues in the region were down 8 percent at constant exchange rates, mainly due to a slowdown in tourist flows across the region. Revenues in the Americas were flat at 147.9 million euros. In the second quarter, revenues in the region were up 5 percent at constant exchange rates, accelerating compared with the previous quarter mainly thanks to the sequential improvement registered in the DTC channel. Gino Fisanotti, Moncler's chief brand officer, highlighted 'U.S.-oriented initiatives' in the period, ranging from the brand's first participation at the Met Gala in May, to the Moncler Genius collection with Mercedes-Benz by Nigo and the first collection of apparel collaborating with Donald Glover's Gilga Farm unveiled in June, among others. Fisanotti was repeatedly asked about future projects for Moncler Genius and Moncler Grenoble, which is 'the fastest growing,' but analysts were urged 'to be patient' as announcements are imminent and he underscored that 'there will be an evolution for Genius.' In the first half of 2025, Moncler's DTC channel recorded revenues of 883.2 million euros, up 1 percent, slowing in the second quarter due to the challenging global macroeconomic environment affecting consumer confidence and a deceleration in tourist flows, particularly affecting EMEA and Japan, while revenues in the Americas accelerated sequentially. The wholesale channel recorded a 6 percent decline in revenues to 155.8 million euros. As of June 30, there were 287 Moncler directly operated monobrand boutiques, a net increase of three units compared with the end of March. Eggs highlighted the opening of the Sydney Westfield store in Australia, the conversion of the Chongqing airport store in China and of the King of Prussia store in Philadelphia, as well as the relocation of the store in South Coast Plaza in Costa Mesa, Calif. The Moncler brand also operated 54 wholesale shops-in-shop, a net decrease of one unit. A flagship in New York is expected to open in the first quarter of 2026. In the first six months of 2025, Stone Island sales in Asia rose 12 percent to 52.3 million euros, mainly driven by the continued solid performance of China and Japan. EMEA was down 4 percent to 123.3 million euros but in the second quarter revenues were up 5 percent at constant exchange rates thanks to the sequential improvement of the wholesale channel in its largest region. Revenues in the Americas were down 17 percent to 11 million euros, slightly recovering in the second quarter. The performance in the U.S. was mainly driven by the DTC channel, said Eggs. 'I cannot say that this was due to some anticipation of the tariffs,' he added. 'We are happy with Stone Island's momentum and its repositioning and the campaigns are starting to pay off. We will continue the elevation of the current stores,' said Eggs. In the first six months, the Stone Island DTC channel grew by 7 percent to 99.1 million euros, decelerating in the second quarter amid a generally more challenging global operating environment. Asia outperformed the other regions. The wholesale channel recorded revenues of 87.6 million, down 9 percent, improving in the second quarter, also due to a different timing of deliveries. As of June 30, there were 91 directly operated Stone Island monobrand stores, a net increase of one unit compared with March 31. Relevant activities included the opening of the store in Hangzhou Euro Street in China and the relocation of the Hankyu Men store in Osaka. The Stone Island brand also operated 11 monobrand wholesale stores. In the first half of 2025, capital expenditures amounted to 82 million euros, or 6.7 percent of revenues, compared with 56.1 million euros in the first half of last year, due to higher investments in the distribution network and in infrastructure projects, including the new corporate headquarters, said Santel. Investments in the distribution network amounted to 50.7 million euros, while investments related to infrastructure totaled 31.3 million euros. Santel said he expects an incidence of capital expenditure on revenues in the region of 7 percent at yearend, slightly above the previous year. Both Eggs and Santel said prices had been modestly increased to protect margins and that they would be raised 'not in a material way to offset additional tariffs,' said the latter. They added it was still early to decide on the second half of 2026. The group's net financial position amounted to 980.8 million euros in net cash, compared with 845.8 million euros at the end of June last year, after a dividend payment of 345 million euros. Best of WWD Harvey Nichols Sees Sales Dip, Losses Widen in Year Marred by Closures Nike Logs $1.3 Billion Profit, But Supply Chain Issues Persist Zegna Shares Start Trading on New York Stock Exchange Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Fashion Network
7 days ago
- Business
- Fashion Network
Moncler's revenues slipped in second quarter, hit by lower tourist spending
Italian luxury outerwear group Moncler reported on Wednesday a 1% decline at constant exchange rates in its second quarter revenues, with its key eponymous brand affected by a decline in tourist spending in Europe and Japan. For the Moncler brand, sales in Asia slowed compared with the first quarter and were flat, mostly due to softer tourist flows in Japan, the group said. Revenues in the Europe and Middle East region were down 8%, while sales in the Americas remained positive. Half-year consolidated revenues totalled 1.23 billion euros (1.41 billion dollars), broadly in line with a company-provided consensus. The first half operating profit declined 13% to 225 million euros, still slightly above analysts expectations, with marketing expenses weighted towards that period. "Entering the second half of 2025, uncertainty in the global geopolitical and economic landscape remains elevated," Moncler said in a statement. "The group continues to prioritise operational agility, while steadily investing in its organisation, talent, and distinctive brands." The Stone Island clothing brand is also part of the group. The luxury industry is experiencing a prolonged downturn, which has been compounded by the uncertainty unleashed by U.S. President Donald Trump 's trade war. Luxury heavyweights LVMH and Kering are expected to report another drop in quarterly sales this month.
Fashion Network
7 days ago
- Business
- Fashion Network
Moncler's revenues slipped in second quarter, hit by lower tourist spending
Italian luxury outerwear group Moncler reported on Wednesday a 1% decline at constant exchange rates in its second quarter revenues, with its key eponymous brand affected by a decline in tourist spending in Europe and Japan. For the Moncler brand, sales in Asia slowed compared with the first quarter and were flat, mostly due to softer tourist flows in Japan, the group said. Revenues in the Europe and Middle East region were down 8%, while sales in the Americas remained positive. Half-year consolidated revenues totalled 1.23 billion euros (1.41 billion dollars), broadly in line with a company-provided consensus. The first half operating profit declined 13% to 225 million euros, still slightly above analysts expectations, with marketing expenses weighted towards that period. "Entering the second half of 2025, uncertainty in the global geopolitical and economic landscape remains elevated," Moncler said in a statement. "The group continues to prioritise operational agility, while steadily investing in its organisation, talent, and distinctive brands." The Stone Island clothing brand is also part of the group. The luxury industry is experiencing a prolonged downturn, which has been compounded by the uncertainty unleashed by U.S. President Donald Trump 's trade war. Luxury heavyweights LVMH and Kering are expected to report another drop in quarterly sales this month.
Hypebeast
7 days ago
- Entertainment
- Hypebeast
In Conversation with Oleksandr Usyk, Three-Time Undisputed World Boxing Champion
This past weekend in London,Oleksandr Usykknocked out hometown fighterDaniel Duboisto cement his legacy as one of the greatest heavyweights of all time. Over five rounds, the undefeated 38-year-old Ukrainian delivered a masterclass in movement and ring IQ, making light work of an opponent 11 years younger and 16.5 pounds heavier. Usyk's victory at Wembley – England's national stadium and the biggest in the UK – was emphatic and with the help of'Ivan'(the hilarious nickname he gave the devastating left hook that took Dubois out), 'The Cat' from Crimea became a three-time undisputed world boxing champion and, arguably, the greatest fighter of his generation. But before the drama of the fifth round, it was Oleksandr Usyk's ring walk that caught the eyes of the fashion-forward among us – namely, the custom-made silvery greyStone Islanduniforms worn by him and his team. While it's no surprise to see the Ukrainian don the badge – he and the brand go back, with Stone Island describing the boxer as 'a longstanding member of the Stone Island community' – it was a robe worthy of the occasion, one that Stone Island created specially for the fight. 'For me, the toughest opponent is always myself – that part of me that tries to convince me not to work, that tells me to rest on my laurels. I fight him every single day.' With a steely expression that stood in contrast to his opponent's self-assured – if premature – smirk, Usyk made his way to the ring wearing the one-of-one robe, flanked by his team in matching jackets. From afar, the long parka appeared relatively simple – but we now know that its metallic grey hue was hiding something. Crafted with Stone Island's 'Nylon Metal' fabric, the fighter's outfit had the distinctive iridescence associated with the material, and it featured a tonal pixelated print with a design that was 'inspired by authentic pixel camouflage'. But the detail didn't stop there: hidden within the digital camo print, Stone Island included a 'specially created pixel alphabet' with the names of Usyk's closest family and friends, allowing the fighter to enter the ring his nearest and dearest literally on his shoulders. Daniel Dubois, meanwhile, arrived at the venue less than two hours before his own ring walk, before entering to a melange of music that included Cameo's 1986 hit'Candy'– a certified banger, but perhaps not the kind he was hoping for on the reportsare also suggesting he had a party at his house just hours before the fight. It was only going to end one way, wasn't it? Hypebeast was ringside on the night to witness history being made as Oleksandr Usyk regained his IBF title and became the first three-time undisputed boxer of the 'four-belt era' – the only boxer in history to do so in two weight classes. We caught up with Usyk a few days after the fight to talk about his mindset going into it, the importance of family, self-expression, and the ideas behind the Stone Island parka he personally designed together with the brand. Check out our full conversation below… You've been part of the Stone Island family for a while now – what is it about the relationship that makes the partnership such a natural fit? You've probably often seen me in photos from various events wearing Stone Island. Partnering with a brand I genuinely wear has always felt very natural to me. Can you tell us about the design and what inspired your ideas for the robe, and how accurately did Stone Island bring these to life with the final product? I'm always personally involved in designing my outfits – both for fight week and for the ring. I understand very well that every outfit is a message. Together with my team, we sit down and decide what we want to say to the world this time, and what symbols we'll use to express it. Most often, it's a message about my faith, my values, and my country [Ukraine]. That's exactly how it was this time. Stone Island and I worked together for a long time, putting in a lot of thought and effort into the design and creation of the outfit. In the end, it turned out just right. The names of your family and friends are on the robe in a specially created 'pixel alphabet' – what does that mean to you? Family is one of the core pillars of my life – a constant source of support and inspiration. During training camps, I spend long stretches away from my wife and children, so I wanted them to be with me symbolically when I walked into the ring. That lifted my fighting spirit incredibly. The pixel pattern is a tribute and a gesture of respect to the defenders of my homeland, to whom I dedicated this victory. These are the people who protect my loved ones. Their support means the world to me. And I know my victory meant a lot to them. When I entered the ring, I wanted to remember exactly why I fight, and who I fight for. 'I'm always personally involved in designing my outfits. I understand very well that every outfit is a message.' The results usually go your way, but how do you pick yourself up and move forward when they don't? It may look easy from the outside. But only I, my family, and my team truly know how much effort it takes to achieve these results. Not everything works out right away. And if it doesn't, you keep trying. God gave me this path, and I follow it, no matter how hard it gets. Obstacles and challenges are also part of this journey, part of His plan. He gives them to make me stronger. Outside the ring, you're known for your unique style and personality – how important is self-expression to you as a fighter? I'm actually a very cheerful guy! I love life deeply, and I love expressing that joy through music, dance, bright clothes, and – of course – boxing. When you truly appreciate each day that God gives you, it motivates you to live it to the fullest, to work harder, and to keep moving toward your goals. Who's the hardest hitter you've faced? Derek Chisora. But for me, the toughest opponent is always myself – that part of me that tries to convince me not to work, that tells me to rest on my laurels. I fight him every single day. What's a piece of advice you received that you've never forgotten? The most important life advises I received came from my late father. One of them was: 'Never worry about what others say about you. Just do your job, and do it as well as you can. Your actions will speak for you.' The same is said in the Bible: 'By their deeds you will know them.' What's next for Oleksandr Usyk – are we going to see you on the Stone Island presentation runway sometime?! Right now, I just want to rest and spend time with my family, whom I've barely seen over the past three months. What comes next? Only God knows. As for the runway: never say never. Anything is possible in life.
