Each news story about TM Lewin seems to deliver worse news and the latest development is that the menswear retailer is closing all of its shops and becoming online-only. It means the loss of over 600 jobs.
As the new owners of TM Lewin continue to seek new deals for its retail stores, a report has suggested the company could consider a pre-pack administration in order to allow it to close as many of the shops as possible.
John Lewis Partnership announced Wednesday that Pippa Wicks is joining its department stores chain as Executive Director. She’s joining in August from the Co-operative Group where she was Deputy Chief Executive.
The luxury industry will feel the fallout from the coronavirus crisis for the next two years if not longer, Chanel's CFO said on Thursday, adding its 2020 revenues and profit would be significantly hit.
The optimism surrounding the sale of British menswear brand TM Lewin back in May seems to have been tempered by the new owner telling landlords that most shops could be shut if they don't offer attractive rent deals.
Moncler said on Thursday it had signed an agreement with France's Interparfums to start selling perfumes, as it seeks to diversify its brand and lessen the impact of the coronvirus crisis on the luxury goods sector.
French luxury goods giant is not asking to renegotiate its $16.2-billion acquisition of U.S. jewelry chain Tiffany & Co after deliberating whether to do so, people familiar with the matter said on Friday.
After being forced to halt production for weeks, the luxury industry's supply chain is slowly restarting in Italy and France. The system has been battered by the Covid-19 pandemic, with many sub-contractors struggling.