Richemont is moving its enterprise IT infrastructure to Amazon Web Services in a deal to drive more dynamic e-tail experiences, more personalisation, better supply chain management and many other benefits.
Investors are usually forgiving of tech firms when they spend years targeting the kind of profitability they’d like, but they weren’t forgiving Farfetch on Thursday as the firm’s shares fell 22% in late trading.
The Richardson, Texas-based watch specialist announced on Wednesday that it achieved net income of $31.4 million in the third quarter, close to double the $16.0 million reported by the company in the prior-year period.
Thailand's Central Group is interested in bidding for Selfridges, a report said Thursday. Interestingly, it also owns La Rinascente, the Italian retailer of which ex-Selfridges CEO Vittorio Radice is Vice-Chairman.
The Kering luxury group announced Wednesday evening that Daniel Lee has abruptly quit his position as creative director of Bottega Veneta after just three years at the helm. No successor has been named.
If there was an award for the best-performing retailer throughout the pandemic and beyond, Watches of Switzerland would be at least shortlisted. It has reported yet another "strong performance", this time for H1.