Latest news with #Versace
Fashion Value Chain
10 hours ago
- Entertainment
- Fashion Value Chain
Celebrate Father's Day with Timeless Watches from DW & Versace
This Father's Day, express gratitude with a gift that mirrors the strength, elegance, and enduring presence of the man who's been your lifelong guide. Daniel Wellington and Versace present a curated selection of watches—each piece crafted to honour every father's unique personality, whether refined and classic or bold and adventurous. Daniel Wellington – Iconic Link Paradigm With its clean design and modern silhouette, Daniel Wellington's Iconic Link Paradigm is a versatile choice for the understated gentleman. Available in two sophisticated variants: Silver with black bezel and black dial Rose gold with white bezel and white dial Price: ₹19,995 These watches are a stylish nod to timeless values and enduring connections, making them an elegant gesture of appreciation. Shop Now: Available online and at exclusive retail stores across India. Versace – Bold Designs for Distinguished Fathers Versace presents three exceptional timepieces ideal for every kind of dad—from the traveler to the trendsetter: V-Contempo GMT Gent A sleek dual-timezone watch tailored for the modern jetsetter, featuring refined lines and Versace's iconic Medusa emblem. V-Galaxy Moonphase For the father who values artistry and detail, this elegant piece combines Roman numerals and a moonphase complication for celestial sophistication. Greca Chrono Wave Commanding attention, this powerful chronograph is defined by the Greca motif and wave-pattern dial, ideal for those with a bold presence. Available at: All Timex-authorised retailers and
Business of Fashion
19 hours ago
- Business
- Business of Fashion
Why Blockbuster Deals Are Back in Fashion
Stock market jitters, recession fears and President Donald Trump's mercurial trade policy are often cited as reasons to hold off on making any big decisions. And yet the fashion and beauty industries' deal sheets keep getting longer. Since Trump announced his tariff policy in April, there have been five major acquisitions, from Prada Group's $1.4 billion acquisition of Versace to E.l.f.'s $1 billion buyout of Hailey Bieber's Rhode on Wednesday. And that's not counting the secondary offering of shares that Birkenstock and Amer Sports issued Thursday, as much a show of confidence in the market as their own brands. This isn't how it was supposed to go. Prior to last month, there had been only a trickle of major fashion or beauty deals, with hot brands — including Rhode — seeming to languish on the market for want of buyers. Trump's tariffs and signs of a US economic slowdown were expected to deepen the freeze. Theoretically, retailers and investors are better off playing it safe, reserving cash flow in case consumer spending, already on shaky ground before Liberation Day, falls further. So why is the M&A market suddenly booming? No single factor explains all five of these deals. Capri Holdings sought to offload Versace as it works to turn around Michael Kors, its biggest brand. Levi's, too, was looking to narrow its focus when it sold its Dockers chino label to Authentic Brands Group on May 20 for $311 million. But both E.l.f. And Dick's Sporting Goods were looking to build out their portfolios with their acquisitions of Rhode and Foot Locker, respectively. And Skechers' $9.4 billion sale to private equity firm 3G on May 5 likely had an element of succession planning to it, given founder Robert Greenberg is 85 years old. Some of these deals still might have happened if Kamala Harris won the election, or US consumer confidence was still buoyant. But it's also true that volatile times make for unique opportunities. 'There are people with enough foresight and risk tolerance to look at dislocation and see uncertainty as creating an opportunity rather than a barrier,' said Simeon Siegel, analyst at BMO Capital Markets. Bargain Hunting. With the exception of Rhode, all the brands that passed hands in the last two months were purchased at a discount. Prada, for instance, nabbed Versace for $700 million less than what Capri paid in 2018. Even after Dick's agreed to a nearly 90 percent premium for Foot Locker, the sneaker retailer's stock still trades below its year-ago level. Skechers also sold at a small discount to its stock price as recently as February. 'For buyers, these current valuations are lower than the fundamental valuation of the businesses they acquire because of the moment in time influenced by trade policies,' said Matthew Tingler, managing director of Baird's global consumer investment banking group. Tingler said he anticipates that more deals will materialise in the coming months. Marissa Lepor, managing director at boutique investment bank the Sage Group, said the deals she has worked on in recent months have not been deferred by the news of tariffs. Buying Power. Acquirers like Prada, Dick's Sporting Goods and E.l.f. have consistently outperformed their peers in recent years and have accumulated the cash to be able to take a risk by expanding into new categories or markets, even in a weak economy. 'The businesses that have diverse infrastructures and very experienced management teams are much more agile to navigate [economic uncertainty],' said Lepor. The Price of Inaction. Beyond the question of why, the question of why not is just as relevant, according to Lepor. 'There's risk to doing anything but there's also a risk to doing nothing,' she said. 'Every time a public company chooses not to acquire a business but their competitor does, there's a potential significant cost to the loss of business.' High Risk, High Reward. Still, snapping up a fashion brand in a volatile economy is no sure bet, especially with tariffs threatening margins and consumer confidence on shaky ground. Dick's acquisition of Foot Locker, a mall chain that has struggled to adapt to the shifting streetwear landscape, will hinge on its capacity to rehabilitate a fading business at a time when shoppers are reluctant to open their wallets. While the risks may be significant, so is the potential payoff. E.l.f.'s acquisition of Rhode is case in point: a bold swing in a shaky market, but one that offers massive potential returns from a prestige Gen-Z skincare brand at a time when mass-market-focussed E.l.f.'s own growth has slowed. 'It's natural for people to feel paralysed in times of uncertainty but heroes are created in years of famine — not years of feast,' said Siegel. THE NEWS IN BRIEF FASHION, BUSINESS AND THE ECONOMY (Getty Images) A federal appeals court allowed Trump's tariffs to stay in effect for now. The order pauses a previous federal trade court ruling blocking Trump's tariffs while the appeals court weighs a longer stay sought by the Trump administration. Shein is working towards a Hong Kong listing after the London IPO stalled, sources said. The fast fashion e-tailer aims to file a draft prospectus with Hong Kong's stock exchange in the weeks to come, after its proposed initial public offering in London failed to secure approval from Chinese regulators. LVMH's deputy CEO said it has room to raise prices 2 to 3 percent. Stephane Bianchi said in a French parliament hearing that to offset tariffs, the conglomerate can lift prices of high-end products without hurting demand, but cannot raise prices for cognac or beauty products. Executives said they will continue to invest in China, despite dwindling demand. Italy's Golden Goose ruled out an IPO this year, but predicted limited impact from tariffs. The luxury sneaker maker's CEO Silvio Campara said it still views a market listing favourably in the future and is open to merger and acquisition options. The company reported a 12 percent rise in net revenues and opened three new stores in the first quarter. Foot Locker sales missed ahead of the Dick's Sporting Goods purchase. The sneaker retailer's sales slump continued in the latest quarter with comparable store sales having fallen 2.6 percent, lower than analysts had expected. Foot Locker declined to provide an annual forecast and conference call to discuss results amid its pending acquisition by Dick's. Dick's Sporting Goods maintained its outlook ahead of the Foot Locker deal. The athletic apparel and equipment retailer maintained its annual sales and profit forecast, with comparable store sales expected to gain 1 to 3 percent this year. The fiscal outlook doesn't account for impact from its blockbuster Foot Locker acquisition. Capri signalled selective price hikes on Michael Kors handbags to counter the tariff hit. The group expects total annual revenue between $3.3 billion to $3.4 billion, a sum which does not account for tariff rates or weakening consumer confidence. Abercrombie shares surged as strong demand drove the first-quarter beat. Stock jumped 25 percent in premarket trading on Wednesday after the retailer beat first-quarter expectations and raised its forecasted annual sales growth to 3 to 6 percent when accounting for current tariffs. Gap's quarterly sales beat on strong demand for Old Navy and namesake brands. The retail company maintained its fiscal sales forecast of 1 to 2 percent growth after comparable first-quarter sales rose 3 percent at Old Navy and 5 percent at Gap. Revenue lifted 2.2 percent to $3.46 billion, surpassing analyst expectations of $3.42 billion. Macy's cut its annual profit forecast amid tariff uncertainty. The department store operator now expects 2025 adjusted profit per share to be between $1.60 and $2, down from its previous target of between $2.05 and $2.25. Macy's beat first-quarter net revenue estimates with net sales of $4.6 billion and maintained its annual net sales forecast. Hudson's Bay will terminate more than 8,300 workers by Sunday. Canada's oldest retailer will lay off 89 percent of its workforce by next week, when it will conclude its liquidation sale and shutter all stores. The layoffs follow rising unemployment rates in Canada, which hit 6.9 percent in April, as US tariffs hit the economy. Temu-owner PDD Holdings missed quarterly revenue estimates. The Chinese e-commerce company suffered from weak consumer sentiment and global trade policies like the end of the de minimis duty loophole. Despite deep price cuts and government stimulus measures, PDD's year-on-year net income fell 47 percent to 14.74 billion yuan. US-listed shares fell 7 percent in premarket trading. Kohl's posted better-than-expected sales as it looks for a new CEO. The department store operator saw $3 billion in quarterly revenue, in line with analyst estimates, and a 3.9 percent drop in comparable sales, slightly outpacing analyst and company expectations. The company maintained its annual forecast. The EU warned Shein of fines in its consumer protection probe. The fast fashion giant has one month to respond to the findings and offer commitments to address the issues, and could also be targeted by the EU's Digital Services Act. Following the warning, Shein now plans to increase product safety testing, and announced it will spend $15 million on compliance initiatives this year. Italy's fashion brands signed an accord to fight worker exploitation. The non-binding agreement with legal and political authorities and trade unions focusses on the creation of a database of brands' suppliers and their workforces. THE BUSINESS OF BEAUTY (Shutterstock) Ulta Beauty cut its sales outlook on slowing consumer demand. The beauty retailer raised its full-year outlook for sales and profit after first-quarter profit and comparable sales beat expectations. Shares rose 7.3 percent in after-market trading in New York. Bath & Body Works forecast slight growth after its 2024 sales dip. The Ohio-based beauty and skincare retailer beat first-quarter profit estimates on steady demand for personal care products and limited exposure to import tariffs. First-quarter sales rose 3 percent year on year $1.42 billion, in line with expectations, while annual net sales and profit forecasts are unchanged. PEOPLE Nike's longtime design and innovation boss John Hoke announced plans to retire. Hoke will step down as chief innovation officer in October, with a successor yet to be named, in the latest executive shuffle under CEO Elliott Hill. Hoke, who started at Nike in 1992, previously served as chief design officer for 15 years. The Estée Lauder Companies tapped Lisa Sequino to lead its makeup division. Sequino, a former ELC executive who left in 2022 to lead Beauty and later Supergoop, will begin her newly created role as president of the makeup brand division on June 9. Compiled by Jessica Kwon.
Daily Mirror
a day ago
- Entertainment
- Daily Mirror
Victoria Beckham's one-word response to son's cover shoot as family feud deepens
The 22-year-old son of Posh Spice and David, who previously walked the runway for Versace at Milan Fashion Week, was the latest star to grace the cover of Dust Magazine Victoria Beckham was almost speechless as she reacted to her son Romeo Beckham's newest magazine cover shoot. The 22-year-old son of Posh Spice and David, who previously walked the runway for Versace at Milan Fashion Week, was the latest star to grace the cover of Dust Magazine. The black-and-white cover photo showed him sitting sideways on a chair as he leaned his face on his hand while gazing away from the camera. Another cover had him in a navy bathrobe as he lay down on a sofa while covering one eye with his hand. Victoria was quick to post clapping hand emojis in the comment section before sharing it on her Stories with one word: "Wow!!" It comes as former Spice Girl Victoria opened up about her Netflix docuseries, which will follow her day to day as the creative director of her fashion and beauty brands. It comes just over a year after the release of her husbands documentary on the streamer, Beckham, which followed the former Manchester United star's meteoric rise from humble beginnings to global football stardom. The latest documentary was announced by Netflix last year, teasing exclusive access to Victoria, her family, and those closest to her. Victoria further teased tears - as she reveals her children will be in the documentary following the reported family feud between eldest son Brooklyn Beckham and his parents. She said to Bloomberg: "There are tears. And it did occur to me the other day, what am I going to think when I see those tears on a huge screen? Or on an iPhone? To be completely honest, I am in the hands of the editor now." Referring to whether David will appear in her documentary the same way she did his, Victoria went on to say: "Well, he might end up on the cutting-room floor. I mean, who knows?" It's not only David who will pop up on the show, as Victoria revealed her children, who are "a huge part of everything" will make an appearance. "They have filmed a little bit of David and the children because they're such a huge part of everything," she continued. She didn't reveal whether all of her children will be making an appearance on the show. It comes as it has been reported Brooklyn Beckham and Nicola Peltz have been in a feud with the Beckhams, with Brooklyn being notably absent from their lives for months. There have been high tensions in the Beckham and Peltz families in recent months as their relationship continues to become strained. Instagram post. In the video, he vowed he will "always choose" his wife Nicola after claims that she has been the catalyst behind the mass fall out.
Pink Villa
a day ago
- Entertainment
- Pink Villa
Suhana Khan in midi-dress worth Rs 1,59,484 and Hermès bag owns the style game like a PRO
The young actress and daughter of Shah Rukh Khan, Suhana Khan, has always been at the top when it comes to slaying the fashion game. She always does it like a pro. For the birthday celebration of her brother AbRam at NMACC Arts Cafe, the fashion icon looked equal parts subtle and modern in a knit midi dress with a fit so perfect it seemed made just for her. Excited to know the details? Then, let's dive in! When Suhana Khan does fashion, we sit back and take notes. This time, she dropped jaws wearing a wave jacquard knit midi dress from Versace, tagged at Rs 1,59,484. The scalloped waves across the ensemble added a refreshing twist to the modern outfit, while the scooped neckline and sleeveless design effortlessly complemented her easygoing vibe. Moreover, the fitted silhouette accentuated her figure, making it feel just right for the occasion. If you're looking for the perfect party outfit, Shah Rukh Khan's daughter's wardrobe always has something worth admiring, and her latest look was truly mind-blowing. It was simple, elegant, and definitely not overdone. Let's see how this style icon nailed the styling. Her striking yet minimal accessories included stud earrings and Hermès Kelly Sellier en Désordre bag, giving her a polished, put-together look. These accessories added just the right touch without overdoing the bling. Her long, voluminous hair was left open, beautifully framing her face. Further, subtle makeup added the perfect radiant finish. Her naturally glowing skin was enhanced with a flawless base, a touch of blush on her cheeks, curled lashes, and well-defined brows. She completed the look with nude lipstick, keeping her natural beauty front and center. And for footwear, she chose Elle 85 mules from Gianvito Rossi worth Rs 66,788. With this midi dress, classy bag, and understated makeup, Suhana Khan proved that when she takes fashion seriously, she pays attention to every detail—turning heads from every angle.
Sydney Morning Herald
a day ago
- Sydney Morning Herald
‘Hard working, affectionate, cheeky': Execution victim John Versace laid to rest
Sydney tradie John Versace has been remembered as affectionate, hard-working and loving by his devastated family, who farewelled the 23-year-old in a moving service at a Maronite church almost a fortnight after he was gunned down on the driveway of his Condell Park home. Versace, 23, had just pulled into the driveway of the home he shared with his parents when a stolen Toyota Corolla sped up to the home about 10.30pm on May 19. A gunman ran along the length of the fence, before levelling a semi-automatic pistol at Versace and firing up to 10 shots, confronting CCTV footage shows. A short time later, a car thought to be the same Corolla was found alight in nearby Fairfield. His murder has troubled investigators, who say it has all the hallmarks of a gangland execution. Given Versace's lack of criminal history or known ties to organised crime, police are investigating whether he was killed in a case of mistaken identity. On Friday, hundreds of mourners packed into St Charbel's in Punchbowl for Versace's funeral as the sun beamed down. Versace, who was baptised at the Maronite church in Sydney's west, was remembered in a touching eulogy as family orientated, cheeky and loving. He and his father, with whom he worked, were best friends. He never passed his mother without kissing her, hugging her or spinning her around, mourners were told.
