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This week, several top fashion companies and conglomerates reported their earnings for the first half of 2023. Leading the way, Enters Deal for Valentino in This Week\’s Top Fashion News”,”stock-symbol”:”MC.PA”,”stock-exchange”:”Paris”,”stock-currency”:”EUR”}’ disclaimer-link=”/investment-disclaimer”>LVMH raked in revenues of €42.2 billion EUR, while Hermès recorded a 25% increase in sales, with consolidated revenues of €6.7 billion EUR; and Prada Group fetched revenues of €2.23 billion EUR, up 17% from the first half of 2022. Meanwhile, Kering struck a deal to purchase 30% of Valentino from Qatari investment fund Mayhoola.
Elsewhere in the industry, the CFDA revealed the official calendar for September’s New York Fashion Week; Raf Simons and Miuccia Prada announced Prada Beauty; Phoebe Philo launched the website for her new brand, and a Billionaire Boys Club x Moncler collaboration surfaced online.