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Image Credit: Tim Graham/Getty Images
Here are the latest updates from the fashion world this Friday.
Capri Holdings Sees Significant Decline in Q1 Earnings
Capri Holdings, parent company of notable labels like Versace, Jimmy Choo, and Michael Kors, has announced a disappointing financial performance for the first fiscal quarter of 2025 ending June 29. The company reported a global downturn in demand for luxury fashion products, leading to a revenue drop of 13.2% and a staggering 64.6% decrease in gross profit, falling from $812 million to $689 million year-over-year. Versace faced losses totaling $17 million, while Jimmy Choo experienced the least impact with only a 5.5% decrease in revenue. In their official statement, CEO John D. Idol mentioned that they are still engaged in an ongoing legal battle regarding an FTC lawsuit aimed at blocking their acquisition by Tapestry.
{Source: Capri Holdings Press Release}
E.l.f Beauty Raises Earnings Forecast for 2025
E.l.f Beauty posted impressive net sales growth of 50% in its recent quarter, reporting net earnings at $47.6 million with stock prices rising by $0.81 per share. The brand has updated its earnings forecast for 2025, enhancing it by 5% compared to the previous year’s outlook. Remarkably, this marks E.l.f.’s achievement of consistent growth over an impressive span of 22 consecutive quarters according to statements made by CEO Tarang Amin.{Source: E.l.f Investor Relations}
Cecilie Bahnsen Welcomes New Leadership as Mie Marie Ejdrup Becomes CEO
Copenhagen-based label Cecilie Bahnsen has appointed Mie Marie Ejdrup as its new CEO effective September 1st, succeeding Kristine Hannah Loebner after her tenure at a brand known for innovative designs showcased at both Copenhagen Fashion Week and Paris Fashion Week alike. “The Cecilie Bahnsen brand is navigating through an exciting transformation phase focused on expanding our international presence,” stated Bahnsen regarding Ejdrup’s appointment to lead initiatives emphasizing slow fashion methodologies such as tailored production methods and repurposing leftover materials.
The Rise of Luxury Sleepwear Trends Among Streetwear Enthusiasts
The trend towards elevated sleepwear is gaining momentum as streetwear fans blend these pieces into everyday outfits—with prominent brands like Teklaa key player leading this movement since luxury sleepwear surged during the pandemic era and continues thriving today through collaborations involving notable designers like Jacobus and celebrities such as Tyler, The Creator along with brands including Carhartt.
{Vogue Business Insights} (subscription may be required)
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[Original Source]: ‘Fashion Headlines’(Link : https://”Fashion:[Insert correct link here]” )
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