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UK Retailer Next Ups Stake in Reiss as Warburg Pincus Exits

Fall fashions are displayed at a JCPenney store in Frisco, Texas, Wednesday, Aug. 30, 2023. (AP Photo/LM Otero)
Fall fashions are displayed at a JCPenney store in Frisco, Texas, Wednesday, Aug. 30, 2023. (AP Photo/LM Otero)
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UK Retailer Next Ups Stake in Reiss as Warburg Pincus Exits

Fall fashions are displayed at a JCPenney store in Frisco, Texas, Wednesday, Aug. 30, 2023. (AP Photo/LM Otero)
Fall fashions are displayed at a JCPenney store in Frisco, Texas, Wednesday, Aug. 30, 2023. (AP Photo/LM Otero)

Britain's Next agreed a deal to raise its stake in upmarket fashion chain Reiss Group to 72% from 51%, after the retailer teamed up with the Reiss family to buy Warburg Pincus's shares for 128 million pounds ($162 million).
Next, one of the UK's biggest clothing chains, has added a number of well-known brands to its stable in recent years, including parts of retailers such as Cath Kidston, Joules and Made.com.
Following the latest deal, the Reiss family's holding will rise to 22% and the management team will hold 6%.
Next said on Friday that Reiss had performed "exceptionally well" since it first invested in March 2021 and as such it decided to snap up the stake being sold by private equity firm Warburg Pincus.
In the 12 months to the end of January, Reiss's sales rose 26% year-over-year to 325 million pounds, while pre-tax profit was 51% higher at 52 million pounds.
Reiss's online operations are contracted to Next through its Total Platform business, which also provides warehousing and distribution services to Reiss, helping drive Reiss's growth overseas.
The deal is subject to regulatory approvals, Next said.

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Fashion

Milan Fashion Week Says Will Ask Brands Not to Show Fur

Protestors hold signs reading "Ban fur" ahead of the Giorgio Armani womens's ready-to-wear Fall/Winter 2026 collection fashion show as part of the Milan Fashion Week, in Milan on March 1, 2026. (AFP)
Protestors hold signs reading "Ban fur" ahead of the Giorgio Armani womens's ready-to-wear Fall/Winter 2026 collection fashion show as part of the Milan Fashion Week, in Milan on March 1, 2026. (AFP)
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Milan Fashion Week Says Will Ask Brands Not to Show Fur

Protestors hold signs reading "Ban fur" ahead of the Giorgio Armani womens's ready-to-wear Fall/Winter 2026 collection fashion show as part of the Milan Fashion Week, in Milan on March 1, 2026. (AFP)
Protestors hold signs reading "Ban fur" ahead of the Giorgio Armani womens's ready-to-wear Fall/Winter 2026 collection fashion show as part of the Milan Fashion Week, in Milan on March 1, 2026. (AFP)

Milan Fashion Week said Friday it would "invite" participating brands at its high-profile runway shows not to show fur, in a partial concession to animal rights activists following pressure.

The National Chamber of Italian Fashion (CNMI), which organizes fashion week, has been under pressure from animal activists to ban fur at the shows -- something fashion weeks in London, New York and various others have already done.

But the guidelines published Friday fell short of activists' demands, making the request not to show fur voluntary.

"CNMI believes that the most effective approach does not consist in imposing bans... but in issuing a request not to present, during the Milan Fashion Week shows, clothing, accessories, or any other item made of fur," the body said.

The new guidelines, to come into effect starting in September, include the chamber not using fur in its communications.

According to the chamber, materials excluded from the guidelines include shearling, vintage fur and fur obtained "by indigenous communities through traditional subsistence hunting practices".

Most fashion names who show at Milan Fashion Week have already gone fur-free, including the Armani Group, Dolce & Gabbana and Prada, but a major holdout has been Fendi, which began as a furrier.

In her first show for the brand, new Fendi designer Maria Grazia Chiuri showed a collection that included "remodeled" furs, or pieces from old furs reworked into new designs.

In March, anti-fur activists demonstrated during the women's shows, unfurling banners that said "Milan Fashion Week Go Fur-Free".

Animal activists noted that CNMI's new guidelines fell short of the flat-out bans on fur seen in other fashion weeks, but nevertheless called it progress.

"Without a fur-free policy like those in place at New York and London Fashion Weeks, there is no guarantee that cruelty will be excluded from Milan's runways, but we hope this anti-fur statement encourages greater use of next-generation biomaterials, which are both beautiful and responsible," said Emma Hakansson of Collective Fashion Justice.

The European Commission has yet to rule on a 2023 citizens' initiative that called on the EU to ban fur farms and the killing of animals such as mink, foxes, raccoon dogs or chinchillas solely for their pelts.

Activists cite the cruelty inherent in fur farming, in which the animals are crammed into tiny wire battery cages before being gassed or electrocuted.

Fashion

Dior Nods to Hollywood's Golden Age with Cruise Collection

Models walk the runway during the Dior 2027 Cruise collection fashion show at the Los Angeles County Museum of Art (LACMA) in Los Angeles on May 13, 2026. (Photo by Patrick T. Fallon / AFP)
Models walk the runway during the Dior 2027 Cruise collection fashion show at the Los Angeles County Museum of Art (LACMA) in Los Angeles on May 13, 2026. (Photo by Patrick T. Fallon / AFP)
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Dior Nods to Hollywood's Golden Age with Cruise Collection

Models walk the runway during the Dior 2027 Cruise collection fashion show at the Los Angeles County Museum of Art (LACMA) in Los Angeles on May 13, 2026. (Photo by Patrick T. Fallon / AFP)
Models walk the runway during the Dior 2027 Cruise collection fashion show at the Los Angeles County Museum of Art (LACMA) in Los Angeles on May 13, 2026. (Photo by Patrick T. Fallon / AFP)

Lights, camera, Dior! The French fashion house has unveiled an ode to the golden age of cinema in Los Angeles at its highly anticipated Cruise 2027 show, the first of its kind under creative director Jonathan Anderson.

At the Los Angeles County Museum of Art (LACMA), Anderson -- who took the creative reins at Dior last year -- presented a runway show inspired by Hollywood glamour, with nods to the natural beauty of California.

Singers Sabrina Carpenter and Miley Cyrus, and actors Al Pacino, Jeff Goldblum, Anya Taylor-Joy and Macaulay Culkin were among the celebrities who attended the glitzy extravaganza in LACMA's newly opened David Geffen Galleries.

The audience was transported to the set of a classic detective film, with colorful vintage cars placed amidst the museum's stark concrete curves and moody lighting, AFP reported.

Models emerged from the smoky haze in effervescent hues of yellow, purple, and orange.

The collection explores the French house's historical relationship with Hollywood, taking as its starting point the ultimatum Marlene Dietrich gave to director Alfred Hitchcock before the filming of "Stage Fright" in the late 1940s: "No Dior, no Dietrich!"

Just like the legendary actress's wardrobe, Dior's show late Wednesday exuded glamour and female empowerment.

Flowers played a prominent role, with a spray of daffodils bursting from one skirt or the red-orange petals of California's poppy, the state flower, cascading down a dress.

Jackets also had their place on the runway in shades of black, gold, and silver.

A striking gray-striped coat featured geometric shadows that mimicked light filtering through Venetian blinds, appearing as if it had practically materialized from a black and white film.

A model wears a creation from the Christian Dior Cruise 2027 collection show at the Los Angeles County Museum of Art (LACMA) in Los Angeles, California, US, May 13, 2026. REUTERS/Daniel Cole

The new version of the brand's signature saddle bag, inspired by vintage American cars, complemented the outfits.

The nostalgic tone of the collection was captured by some attendees who praised the juxtaposition of pieces, resulting in fluid, less cinched silhouettes reminiscent of 1940s Hollywood.

Anderson, former artistic director of the Spanish fashion house Loewe, in June 2025 became the first designer since Christian Dior to oversee all three lines (women's, men's, and haute couture) for the legendary French house.

Following an acclaimed first menswear collection in June and a less enthusiastically received first womenswear collection in October, Anderson presented a second, more extravagant menswear collection in the French capital in January.

Then, for his first haute couture collection, the 41-year-old Northern Irish designer presented a line with punk touches and floral accents, true to his rebellious spirit.

Like Dior, nominated for an Oscar in 1955 for the costumes in "Indiscretion of an American Wife," Anderson has built a connection with Hollywood, contributing to productions such as "Challengers" (2024), starring Zendaya and directed by Luca Guadagnino.

Dior holds its Cruise, or resort, shows in different locations each year, showcasing the luxury house's designs in new locales.

The transitional collection debuted last year in Rome, after shows in Scotland and Mexico. This special runway show last took place in Los Angeles in 2017.

Fashion

LVMH Sells Marc Jacobs to WHP Global, which Will Form Partnership with G-III

Bernard Arnault (L), chair of the world's largest luxury house LVMH, and Delphine Arnault (C), his daughter and CEO of Christian Dior Couture, arrive at Shinsegae Inc.'s flagship department store in Seoul, South Korea, 11 May 2026, to visit The Louis Vuitton Visionary Journeys Seoul. EPA/YONHAP
Bernard Arnault (L), chair of the world's largest luxury house LVMH, and Delphine Arnault (C), his daughter and CEO of Christian Dior Couture, arrive at Shinsegae Inc.'s flagship department store in Seoul, South Korea, 11 May 2026, to visit The Louis Vuitton Visionary Journeys Seoul. EPA/YONHAP
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LVMH Sells Marc Jacobs to WHP Global, which Will Form Partnership with G-III

Bernard Arnault (L), chair of the world's largest luxury house LVMH, and Delphine Arnault (C), his daughter and CEO of Christian Dior Couture, arrive at Shinsegae Inc.'s flagship department store in Seoul, South Korea, 11 May 2026, to visit The Louis Vuitton Visionary Journeys Seoul. EPA/YONHAP
Bernard Arnault (L), chair of the world's largest luxury house LVMH, and Delphine Arnault (C), his daughter and CEO of Christian Dior Couture, arrive at Shinsegae Inc.'s flagship department store in Seoul, South Korea, 11 May 2026, to visit The Louis Vuitton Visionary Journeys Seoul. EPA/YONHAP

French luxury giant LVMH will sell its Marc Jacobs brand to US brand firm WHP Global, the two companies said Thursday.

Marc Jacobs, acquired by LVMH in 1997, will keep the namesake American designer as creative director once the transaction is finalized -- expected by the end of the year once necessary regulatory approvals have been obtained.

After a surge in popularity in the early 2000s, the Marc Jacobs fashion house lost momentum and made several strategic shifts to find a viable business model.

According to several media outlets, it has returned to profitability.

After the sale, another company, G-III will then purchase and co-own part of the Marc Jacobs brand alongside WHP Global, according to a statement from G-III.

WHP Global is home to brands such as rag & bone, G-Star and Vera Wang.

"I am forever grateful to Bernard Arnault for his support, belief and trust in me over the last 30 years," Jacobs said in the joint statement, referring to LVMH's boss, who is France's richest man.

Before dedicating himself to his own brand, Jacobs worked for 16 years as artistic director of Louis Vuitton -- LVMH's flagship brand.

"I remain committed in my role as Creative Director of Marc Jacobs International and look forward to this bright new chapter," the designer added, according to AFP.

Arnault praised Jacobs' "unique vision" and "undeniable" impact on the fashion world.

A leading brand at the turn of the millennium, Marc Jacobs later found itself losing steam and began a wave of strategic changes in a bid to find a viable business model.

WHP Global and G-III will form an equally owned joint venture that will hold Marc Jacobs, G-III said in a separate statement, adding that its investment would be around $500 million, financed with available cash and debt.

According to the statement from LVMH and WHP Global, the agreement will see G-III operate Marc Jacobs' direct-to-consumer and wholesale businesses.

The Wall Street Journal, citing sources familiar with the matter, reported in July last year that LVMH was in talks to sell Marc Jacobs in a transaction valued at $1 billion, or 850 million euros.

According to the US newspaper, the French group was in talks with several potential buyers, including US groups Authentic, the owner of Reebok, and WHP Global.

LVMH, the world's largest luxury group which owns Dior, Celine, Moet Hennessy and other brands, posted a 22-percent drop in net profit in the first half of 2025.

Now the brand is reporting "good resilience in a geopolitical and economic environment that remained disrupted, amplified by the conflict in the Middle East."

Overall revenue fell six percent in the first quarter, LVMH said in April.