FRANKFURT - European private equity firm Permira [PERM.UL] is cutting its stake in German fashion retailer Hugo Boss to about 32 percent from 39 percent by selling more shares on the open market.
HONG KONG/MILAN - Italian luxury group Prada said it would continue to cut costs next year and open fewer shops than planned after its profit slumped 44 percent in the three months to end-October, hurt by declining sales.
LONDON - British handbag maker Mulberry slumped to a first half loss as it counted the cost of an ill-fated push upmarket but said a return to its lower priced roots had seen sales rise more recently.
MILAN - Italy's Luxottica is joining forces with U.S. chipmaker Intel Corp to develop glasses that combine its top fashion brands with technology that could allow wearers to access information about their health or location.
LONDON/DUBAI - The Qatari royal family is leading the race to buy the Spanish fashion brand Pepe Jeans as buyout funds struggle to match the sellers' price expectation of at least 700 million euros (555 million pounds), several sources close to the auction process said.
NEW YORK - Fashion designer Diane von Furstenberg is known for turning her signature wrap dress into a fashion empire and in her memoir, “The Woman I Wanted to Be,” she describes how she did it.
BERLIN - German fashion house Hugo Boss wants to move further into the luxury market and promote its brand more consistently around the globe to help it accelerate sales growth and improve margins in coming years.
SAN FRANCISCO - Upcoming bracelets with technology from Intel Corp and design cues from fashion brand Opening Ceremony will connect the wearer with Facebook, Google and Yelp via an AT&T data plan without having to carry a smartphone.
PARIS - Gucci holds the luxury spending downturn mainly responsible for its poor performance but the Italian fashion brand may also have itself to blame, suggesting it could be time to change strategy and hire fresh talent.