From the fashion runways of Balenciaga, Victoria Beckham, Alexander Wang, Marni and Tory Burch to sports arenas and gyms everywhere, the $32.7 billion active business is on a growth tear, and the ath-leisure look is coming into its own.
Handbags that retail in the $400-plus range will again form the core offering for the accessories giant as chief executive officer Victor Luis aims to maintain the company’s positioning as what he described as the “world’s number-one affordable luxury brand.”
After 10 months, a guilty verdict was once again handed down in the Domenico Dolce and Stefano Gabbana tax trial, which the designers’ lawyer immediately vowed he would appeal to Italy’s highest court.
Emanuel Chirico, chairman and chief executive officer of the New York-based apparel giant, told the Nomura Retail Conference Monday that the company would consider selling some of its Heritage Brands group if the right offers came long.
Wall Street seemed unimpressed by Avon’s progress on getting closer to reaching a settlement with government officials tied to its six-year foreign bribery probe, and focused instead on the company’s weaker-than-expected earnings results.