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Photo: Gilbert Flores/WWD via Getty Images
Here are the latest developments making waves in the fashion industry this Friday.
Capri Holdings Reports a 16.4% Decline in Sales
Capri Holdings, the parent organization of renowned brands such as Versace, Jimmy Choo, and Michael Kors, announced its fiscal results for the second quarter of 2025 on Thursday. The report indicated a significant revenue drop of 16.4%. The company’s net income for Q2 stood at $24 million, translating to $0.20 per diluted share, a stark contrast to last year’s net income of $90 million or $0.77 per diluted share, as detailed in their official announcement. John D. Idol, Chairman and CEO, expressed disappointment over these results due to ongoing global demand challenges for luxury fashion items but emphasized their commitment to strategic initiatives aimed at achieving sustainable growth across all three luxury brands.
LVMH Takes Minority Stake in Our Legacy Brand
LVMH Luxury Ventures has recently acquired an undisclosed minority interest in Swedish menswear brand Our Legacy. This investment follows a remarkable sales increase for Our Legacy, which reported €40 million ($43.6 million) in revenue for the fiscal year ending June 30, 2024—up from €30 million last year and just €8 million back in 2021. Co-founder Jockum Hallin stated that while they did not require additional funding from a cash flow perspective—having achieved consistent profitability—the investment is intended to support future growth as they enter a new phase of development.
The Rise of Human-Derived Ingredients in Skincare Products
The use of human-derived ingredients is becoming increasingly accepted within the luxury skincare sector thanks to advancements in stem cell research. Angela Caglia Skincare introduced its Cell Forté Serum in October 2023, resulting in an impressive annual sales surge of 437%, alongside its expansion into Nordstrom stores. This innovative serum utilizes “human-derived adipose mesenchymal stem cell-conditioned media,” sourced from fat donated by healthy young individuals undergoing plastic surgery procedures and processed under laboratory conditions. According to reports from Glossy, these stem cells are extracted from tissue and cultivated within an environment that encourages them to release growth factors and proteins used within the serum formulation.
Richemont Experiences Slight Sales Decrease of 1%
Richemont’s latest financial report revealed a minor sales decline of 1%, totaling €10.1 billion during the first half of its fiscal year. While all regions except Asia Pacific saw positive sales growth—with notable double-digit increases recorded across America—the company also noted profits fell significantly from €1.5 billion last year down to €457 million this period following their recent sale transaction involving Yoox Net-a-Porter with Mytheresa expected to finalize by mid-2025.
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