Will your next luxury garment come with its own digital passport? It’s possible. Another Tomorrow has joined the Aura Blockchain Consortium, setting the stage for an innovative shift in the fashion industry. The New York–based luxury label will debut the next generation of the nonprofit collective’s digital product passport (DPP) across its Winter/Spring 2026 collection, plus deployment across all future lines. More from Sourcing Journal “Our brand was born from the belief that transparency and accounta ...

Core Viewpoint - Italian luxury fashion brand Golden Goose has entered into an agreement for Hong Kong investment firm HSG to become its majority shareholder, with Temasek acquiring a minority interest and existing investor Permira retaining a strategic minority stake [1][2][3] Group 1: Investment and Shareholding - HSG will become the majority shareholder of Golden Goose, while Temasek will acquire a minority interest and Permira will maintain a strategic minority stake [1] - Financial details of the transaction have not been disclosed, and the deal is expected to finalize in summer 2026, pending regulatory approvals [1][6] Group 2: Strategic Goals - The new investment aims to accelerate Golden Goose's international expansion while maintaining its "Made in Italy" production base [2][4] - CEO Silvio Campara will continue to lead the company, supported by the current management team, with Marco Bizzarri taking on the role of non-executive chairman [2][3] Group 3: Financial Performance - Golden Goose reported revenues of €655 million ($768.52 million) for the 2024 financial year, a significant increase from €266 million in 2020 [3] - For the nine months ending September 2025, revenue increased by 13% year-on-year, driven by a 21% growth in direct-to-consumer sales and an expanded retail network of 227 stores, up from 97 in 2019 [4] Group 4: Market Position and Future Outlook - HSG partner Jiajia Zou emphasized the brand's values of love, empathy, and authenticity, highlighting the partnership's focus on supporting Golden Goose's international growth while celebrating its Italian heritage [5] - The transaction was negotiated shortly after Golden Goose postponed its initial public offering, indicating a strategic shift in the company's growth plans [6]

Group 1 - LuxExperience (LUXE) is identified as a significant player in the luxury fashion sector, with a valuation of 0.3x EV/S being considered a bargain [1] Group 2 - The research firm Goulart's Restaurant Stocks specializes in the U.S. restaurant industry, covering various segments from quick-service to fine dining [2] - The firm employs advanced financial modeling and sector-specific KPIs to uncover hidden value in public equities, particularly focusing on micro and small-cap stocks [2]

Core Viewpoint - A Milan court has granted Tod's Group an extension of two months to enhance its supply chain controls before a potential sanction is decided, following an investigation into alleged labor abuses [1][2]. Group 1: Court Decision and Company Response - The court postponed a hearing that could impose a six-month communication ban on Tod's, originally scheduled for Wednesday, to February 23 [1]. - Tod's expressed satisfaction with the court's decision, viewing it as a reasonable opportunity to complete necessary control-strengthening measures that have been initiated [2]. - The company emphasized its commitment to clarifying the situation and addressing labor issues, highlighting the protection of workers' dignity as a core value [2]. Group 2: Allegations and Investigations - Tod's and three of its managers are accused of neglecting findings from local authorities regarding labor conditions at subcontractors, which are reportedly Chinese-owned [3]. - Prosecutors have raised concerns about working hours, pay, and hygiene standards based on audit results from the company's supply chain [4]. - The investigation, led by prosecutor Paolo Storari, has uncovered alleged labor abuses and poor working conditions at some subcontractors in Lombardy and Marche regions, involved in producing staff uniforms and footwear components [4].

Retail - Kohl's has appointed Michael Bender as chief executive officer after serving as interim CEO since May [1] - Bender has a background as president and CEO of Eyemart Express and held various executive roles at Walmart, including chief operating officer of global e-commerce [2] - Bender will continue to serve on the Kohl's Board, where he has been a director since 2019 [3] Brands - Lanvin Group announced the resignation of David Chan, executive president and chief financial officer, to pursue new professional opportunities [4] Textiles - BioFluff has appointed Luke Henning as interim chief executive officer, who has been chairman of the board for the past two years [5] - Henning aims to scale BioFluff's commercial operations and accelerate market entry for fur alternatives [5] - BioFluff has also welcomed three new strategic advisors to support its growth [5] Logistics - Cart.com has named Arjun Sainath as chief technology officer to lead product and engineering strategy [6] - Sainath will focus on advancing the use of AI and machine learning in Cart.com's technology for commerce and fulfillment [6] - He brings over two decades of experience in product and platform initiatives across supply chain and CRM industries [6]

Core Insights - Walmart is transferring its stock listing from the New York Stock Exchange (NYSE) to the Nasdaq Stock Market, effective December 9, which includes the transfer of its WMT ticker symbol and nine bonds [2][3] - This strategic move is seen as aligning Walmart with a technology-focused exchange, potentially positioning the company for inclusion in the Nasdaq 100, which could attract passive inflows from index-tracking funds [3] - J. Jill has appointed Viv Rettke as its first chief growth officer, who will oversee direct-to-consumer performance and lead AI initiatives, reporting directly to the CEO [4][5] Company Developments - Walmart's transition to Nasdaq is intended to reflect shared values with the exchange, emphasizing a technology-forward approach [2] - J. Jill's new chief growth officer has a background in strategy and transformation, previously serving at Cole Haan, and is expected to drive business growth and market opportunities [4][5] Industry Trends - The luxury fashion market is showcasing high-priced items, such as Prada's Crochet Safety Pin Brooch retailing for $775, which may be perceived as insensitive in the current economic climate [5][6] - The fashion industry continues to navigate challenges such as tariffs, inflation, and layoffs, impacting consumer sentiment and spending [6]

Group 1 - The core announcement is the appointment of Sharifa AlSudairi as a brand ambassador for Perfect Moment Ltd. [1] - Sharifa AlSudairi is recognized as Saudi Arabia's first female Alpine skier, which adds competitive credibility to the brand [1] - The appointment reflects the company's strategy to fuse technical excellence with fashion-led designs, enhancing its luxury lifestyle brand image [1]

Core Points - Lanvin Group Holdings Limited will hold its annual general meeting (AGM) virtually on December 18, 2025, at 9:00 AM EST, allowing shareholders to engage with the Board of Directors and executive management [1][2] - The Board of Directors supports the Proposed Resolution and recommends shareholders vote in favor of it [2] - The Company has filed its annual report on Form 20-F for the fiscal year ended December 31, 2024, with the SEC, which includes audited financial statements [3] Company Overview - Lanvin Group is a leading global luxury fashion group headquartered in Shanghai, China, and Milan, Italy, managing iconic brands such as Lanvin, Wolford, Sergio Rossi, St. John Knits, and Caruso [4] - The Company aims to expand its global footprint and achieve sustainable growth through strategic investments and operational expertise, focusing on the fastest-growing luxury fashion markets [4] - Lanvin Group is listed on the New York Stock Exchange under the ticker symbol "LANV" [4]

Core Insights - Lanvin Group has appointed Mr. Jiyang Han as Chief Financial Officer (CFO), effective November 1, 2025, to oversee financial affairs including planning, analysis, accounting, and investor relations [1][3] - Mr. Han has nearly two decades of experience in corporate finance and investment banking, previously serving as Co-CIO and Assistant President of Yuyuan and as M&A and Strategy Leader at 3M [1][2] - The appointment reflects Lanvin Group's commitment to strengthening financial discipline and supporting growth ambitions globally [3] Company Overview - Lanvin Group is a leading global luxury fashion group headquartered in Shanghai and Milan, managing brands such as Lanvin, Wolford, and Sergio Rossi [4] - The company aims to expand its global footprint and achieve sustainable growth through strategic investments and operational expertise [4] - Lanvin Group is listed on the New York Stock Exchange under the ticker symbol "LANV" [4]

Financial Data and Key Metrics Changes - In Q3 2025, the company reported revenues of €398 million, representing a 4% organic growth, with a sequential acceleration in the DTC channel, which grew by 9% in the quarter [6][12] - Year-to-date revenues for the first nine months reached €1.3 billion [6] Performance by Business Line - The Zegna brand recorded revenues of €249 million in Q3, reflecting a 6% growth driven by strong DTC performance, particularly in EMEA and the Americas [7] - Tom Brown's revenues were €48 million in Q3, showing slight negative growth but sequential improvement [7] - Tom Ford Fashion reported revenues of €66 million, up 4% organically, supported by the successful reception of the Fall/Winter 2025 collection [7] - The wholesale performance for Zegna was down 3% in Q3 and 11% year-to-date, with expectations of a mid-teens decline by year-end [15] Performance by Geographic Area - EMEA accounted for 36% of total revenue in the first nine months, with a 3% growth in Q3 driven by DTC performance [8] - The Americas, contributing 29% of nine-month revenue, recorded a 13% growth in Q3, with strong DTC performance [9] - Greater China accounted for 23% of total revenues, with a 7% decline in Q3, although showing signs of sequential improvement [10] - The rest of APAC represented 12% of nine-month revenues, with a 3% growth in Q3 [11] Company Strategy and Industry Competition - The company is focused on increasing control over the distribution of iconic products and converting wholesale points of sale into retail concessions [15] - The management emphasized the importance of maintaining a disciplined approach to projects in the pipeline to navigate the current environment [26] Management's Comments on Operating Environment and Future Outlook - Management noted that currency fluctuations continue to present challenges, with an expected impact of 4-5% from organic to reported figures in Q4 [26] - The consumer demand environment remains volatile, particularly in China, but the company anticipates settling into a new normal leading to balanced growth rates in the coming years [26] Other Important Information - The company celebrated the reopening of a fully renovated store in Dubai Mall, which now includes an exclusive private space [25] - A multiyear partnership with Art Basel was signed to celebrate art that resonates with the company's customers [20] Q&A Session Summary Question: Current trading expectations for Q4 and performance in China - Management indicated that current trading trends in Q4 are not substantially different from Q3, with a cautious outlook on consumer traffic in China, particularly for more affordable products [32][34] Question: Consumer environment across regions - The Americas and Europe showed solid growth, while Greater China experienced a mid-single-digit decline, with improvements noted in second-tier cities [49] Question: Wholesale sector trends - The rationalization of the wholesale channel is nearing completion, with expectations of continued selective conversions into next year [51] Question: Performance of Tom Ford - The brand has seen positive reception for its new collections, with plans for further expansion in the U.S. market [56][110] Question: Impact of new collections on performance - The initial "wow" effect from new collections is acknowledged, but the overall performance is attributed to a combination of factors including improved CRM and merchandising strategies [121]