A fraught legal battle playing out in the United States between two siblings from the fourth generation of the Bulgari jewellery dynasty is having knock-on effects for a discreet Swiss firm that manages the family's fortune.
Kering clinched a deal to buy into Valentino's capital just before announcing its six-month results in July. But the French luxury group has also formed a strategic partnership with the brand's majority shareholder, Qatar's royal family.
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Spotlight The strict rules of Paris Fashion Week, already called into question during the pandemic, continue to fuel tensions between brands and France's schedule-setting haute couture federation, the FHCM. To maintain the status quo and keep itself in a job, that body is mounting its defence.
To attract clients from the Gulf states, Western luxury brands are calling on headscarf-wearing influencers and launching tailored clothing collections for Ramadan. Meanwhile, local brands, backed by Middle Eastern governments, are trying to fend off that competition in the highly lucrative market.
Spotlight With the European Union set to vote in September on whether to ban goods made with forced labour, LVMH, Kering and others are engaged in a delicate balancing act. While luxury giants boost efforts to ensure no Xinjiang cotton is used in their products, they are also avoiding overtly criticising China, a top strategic market.
Breaking news published on 02/05/23 at 05:00 GMT - As New York's Metropolitan Museum of Art celebrates Karl Lagerfeld's legacy, the late designer's estate is in stasis over hefty tax debts in Paris. The former Chanel artistic director's unpaid tax bills in France are keeping his eight heirs from collecting their inheritance.