Shares of Farfetch Ltd plunged 22% on Friday and were set to post their biggest percentage drop in more than two years after the retailer cut a key growth forecast, blaming cooling demand for high-end fashion.
Italian fashion group OTB has joined a consortium formed by luxury goods heavyweights LVMH, Prada and Cartier that uses blockchain technology to trace the origin of high-end products to fight counterfeiting.
On the fashion week's fourth day, Paris found itself divided between an increasingly naturalistic approach to fashion, as shown by Chloé, and a more conceptual dimension, notably expressed by Raf Simons.
Etro has appointed Fabrizio Cardinali as its CEO, effective in Q4. The company said he brings “more than 25 years of strategic leadership expertise and an unmatched track record in the luxury fashion space”.