In response to elite runner Mary Cain’s allegations of forced weight loss and public shaming by former coach Alberto Salazar at a now-disbanded Nike-supported running program, Nike has started an investigation into the matter. Cain aired her claims in an oped New York Times video Thursday: “I Was the Fastest Girl in America, Until I […]
MILAN — Leonardo Del Vecchio is now the biggest investor in Italian bank Mediobanca. The founder and chairman of Italian eyewear giant Luxottica, through his Luxemburg-based holding Delfin, has become the bank’s main shareholder following UniCredit’s sale of its 8.4 percent share capital, equivalent to about 74.5 million existing ordinary shares. The gross proceeds from […]
Art Peck might be leaving Gap Inc. amid complaints about performance, but his pay package skyrocketed during the four years he led the specialty retailer as president and chief executive officer. Back in 2015 — his first year in that position — his total compensation started at $6.1 million and rose steadily, with his annual […]
LONDON — Just keep swimming. With its top and bottom lines under pressure from myriad internal and external forces, Cartier’s parent Compagnie Financière Richemont intends to move forward steadily — and swiftly — in fiscal 2019-20 and beyond. Undaunted by LVMH Moët Hennessy Louis Vuitton’s pursuit of Tiffany & Co., by unrest and declining sales […]
NEW HOME: The Armani Group has secured a key location to enhance its retail network in Milan. On Friday, the company won the bid for the rental of a 3,250-square-foot store in the city’s Galleria Vittorio Emanuele II. According to a statement released by the municipality of Milan, the fashion house beat the competition of […]