Lagardere (LAGA PA) on February 27th received an exclusive offer from LVMH to aquire Paris magazine Match, Reuters said.

“Lagardere said its board of directors has entered into exclusive discussions with LVMH and will consult with unions representing employees, and maybe Lagardere News.”

Lagardere was Aquried by Vivendi in 2023 who now owns 59.71% of the conglomerate group. “Paris Match, a glossy photo magazine with stories on celebrities and royals as well as news reports, is traditionally seen as an influential outlet that has often boosted the chances of French presidential hopefuls.”

As Luxury retailers are competing to snatch up prime real estate on the famous Avenue. LVMH has jumped into the fry by bidding on 745 5th Ave as part of their effort to increase global presence on the most luxurious streets and buildings around the world.   

745 Fifth Avenue’s first three floors is currently occupied by a Bergdolf Goodman men’s store as the retail conglomerate is bidding on the property against at least seven other competitors according to a confidential source Bloomberg reported. The landlord is Paramount Group.

“LVMH is the latest luxury brand to seek to own a piece of Manhattan’s Fifth Ave. Last week Globest.com reported that Kering, the French luxury group that owns Gucci, Balenciaga and Alexander McQueen, acquired the retail portion of 715-717 Fifth Ave., for $963 million. The 115,000 square foot property was sold by SL Green and Jeff Sutton’s Wharton Properties.”

On Tuesday October 25th Adidas ended it’s business partnership with Kenye West (known now as Ye) after he made several antisemitic comments that were offensive. Just hours later Foot Locker and Gap Inc announced that they are removing all Yeezy items from its stores immediately. A Foot Locker spokesperson said: “Foot Locker, Inc. does not tolerate any form of antisemitism, or hateful and discriminatory behavior. While we remain a partner with adidas and carry a wide assortment of their collections – we will not be supporting any future Yeezy product drops,”.

Gap Inc said: “Antisemitism, racism and hate in any form are inexcusable and not tolerated in accordance with our values”. Adidas also stated that: “After a thorough review, the company has taken the decision to terminate the partnership with Ye immediately, end production of Yeezy branded products and stop all payments to Ye and his companies. Adidas will stop the Adidas Yeezy business with immediate effect.”

According to Forbes Magazine, estimates that without the Adidas deal Ye is only worth 400 million, without the Adidas partnership (worth 1.5 Billion) he lost his billionaire status. Left with only his music catalog and a 5% stake in Kim Kardashian’s shape-wear company Skims. “Talent agency CAA confirmed it had dropped Ye as a client Monday, and he was let go by Balenciaga last week.” JPMorgan Chase has also cut ties toYe, .all adding to a massive profit loss

It was announced on Sept 30 2022 that the theme for the 2023 Met Gala will be a tribute to the late designer Karl Largerfeld. The late former creative director for Chanel who died from pancreatic cancer in 2019 will be honored as some speak out against it. “Karl Lagerfeld: A Line of Beauty,” will “explore the artistic methodology and stylistic vocabulary of Karl Lagerfeld’s designs through recurring themes across more than 65 years, from the 1950s to his final collection in 2019.” According to the Met.

The Met Gala will be held on May 1st 2023, and the exhibition will run from May to July 2023 which will feature about 150 of Karl’s designs that he created while creative director for Chloé, Fendi, Chanel, Balmain and Patou, as well as items from his eponymous label. The head curator of the Met Andrew Bolton said that he got inspired after hearing Largerfeld’s design assistants pay tribute at the memorial service of the late designer.

“I was so fascinated by how they communicated [with Lagerfeld], which was by drawings,” Bolton told CNN Sept. 30. “Every single design in his life was a sketch. And when I saw the drawings, I thought, ‘These are so charming, so whimsical, so impressionistic.’ But what I didn’t realize was that they contained really precise information—about a shoulder line or the length of a sleeve. And [his staff] knew exactly what this line meant or what that dot meant, and they could decode it.”

Jameela Jamil took to social media to say: “Why is THIS who we celebrate when there are so many AMAZING designers out there who aren’t bigoted white men? What happened to everyone’s principles and ‘advocacy.’ You don’t get to stand for justice in these areas, and then attend the celebration of someone who reveled in his own public disdain for marginalized people. ”Lagerfelt’s controversial 2009 interview in which he told German magazine Focus that “no one wants to see curvy women.” she also stated. “If you don’t want your pants pulled about, don’t become a model! Join a nunnery, there’ll always be a place for you in the convent,” Lagerfeld reportedly told Numero in 2018. Well not everyone is happy about the theme for the biggest event in fashion.

However the late designer was highly talented, and his contributions to fashion was nothing less then amazing! The show will go on nonetheless.

The fashion brand owners of Karl Lagerfeld have sold the majority stake to G-lll Apparel Group Ltd. for 200 million euros ($210 Million) paying in cash. G-lll purchased 81% of Karl Lagerfeld’s brand from a group of private and public investors headed by Fred Gehring of Amlon Capital, in addition to the 19% stake brought in 2016 while forming a North American joint venture in 2015. The apparel group also owns Donna Karen.

The buyers anticipate retail sales of the brand could reach over $2 billion. Hun Kim (former Tommy Hilfiger designer) is now head of design, along with Carine Roitfeld and Amber Valletta to create collections. Pricing is considered “Affordable Luxury” with a mid-tier price point.

Included in the deal G-lll will also acquire the 10% stake in it’s China joint venture with global expansion and ramped up licensing deals.

A Paris judge on December 17th approved a 10 Million Euro (11.27 million) settlement, offered by prosecutors to LVMH owned by Bernard Arnault, the world’s third-richest person according to Forbes magazine that shuts down a criminal probe in the luxury group’s role in a “spying” case which involves the ex-top boss of France’s security services.

“This ruling infuriated François Ruffin, a journalist, filmmaker and leftwing politician who made headlines in 2016 with “Merci Patron!” (Thanks Boss!), a film that skewered Arnault as a heartless tycoon impoverishing the French working class.”

Ruffin filed a lawsuit in 2019 claiming that LVMH contracted the former head of France’s DGSI domestic intelligence agency, Bernard Squarcini, to spy on him for almost three years while filming the movie, that won a Cesar (the French equivalent of the Oscars) as best documentary in 2017. Ruffin had requested the court to refuse the settlement, saying 10 million euros was just 0.02 percent of the nearly 45 billion euros in revenue last year for LVMH.

“Can justice be bought so cheaply? The answer is yes,” Ruffin told journalists after the hearing Friday. It’s a blank check for all future spying operations by multinationals. All LVMH had to do was pay to get out of the proceedings.”

Quiet Logistics a third party supplier chain for over 50 customer direct brands which utilizes a hybrid of human and robotics capabilities. With eight fulfillment centers, and based in Devens, Massachusetts creating inventory efficiencies and providing affordable same-day and next-day delivery options to customers and stores.

Quiet Logistics was acquired this month by American Eagle Outfitters in a all cash deal for $350 million this month. This deal follows a May acquisition of Airterra a delivery start up.

During Milan Fashion Week 2021, Gucci launched it’s Vault Vintage e-commerce web site offering refurbished Gucci products, as well as capsule collections by new young designers. Gucci Vault, which is a continuation between the brand and independent young designers from 2020’s GucciFest. The festival in 2020 (which replaced it’s runway shows) resulted in a 25% increase in Gucci’s revenue’s in the first quarter of 2021.

“The Gucci Vault expands on the Gucci universe in an online space and gives the stage to restored vintage pieces and exclusive items from almost all of the 15 designers originally featured in the festival. The lineup consists of Ahluwalia, Shanel Campbell, Stefan Cooke, Cormio, Charles de Vilmorin, JordanLuca, Yueqi Qi, Rave Review, Gui Rosa, Bianca Saunders, CFDA/Vogue Fashion Fund finalist Collina Strada, Boramy Viguier and LVMH prize finalist Rui Zhou.” The Gucci Vault is “speaking to the belief that past, present and future can co-exist through the power of the imagination.” The brand said in a statement.

There next show will be in Los Angeles on Nov 2nd, which will run parallel with the 10th LACMA Art & Film Gala that Gucci is also sponsoring.

This continuing trend of “Big Brand” conglomerates is breathing new life (and revenue) to the large fashion brands after the post pandemic slump.

The Luxury fashion retailer FarFetch is taking on the huge sustainability issues the industry faces, by launching a pre orders service that allows customers to buy from designers before they are on the shelves. The pre order initiative will launch with brands like: Oscar del la Renta, Off-White, Balenciaga and Khaite, in an effort to reduce fashion waste.

The first pre order’s clothes are already made, however the idea is (for the long term) is to offer pre-production so that brands may make only enough clothes that is desired, and by effect reduce waste.

A total of ten brands have joined Faefetch in this sustainability push, and more brands will be on board monthly as for many brands this will be their first time jumping in the pre-order arena.