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Day’s wrap: LVMH, Fendi, Rent the Runway, Inspirato and inflation

June 10, 2022

Lab-grown diamond producer Lusix secured a major investment from LVMH and other key investors. Image credit: Lusix


Luxury Daily’s live news for June 10:

LVMH backs lab-grown diamond producer
French luxury conglomerate LVMH joined other high-profile investors in completing an investment round of $90 million for lab-grown diamond (LGD) producer Lusix.

Fendi reinterprets iconic cafe with temporary bar in Milan
Italian fashion house Fendi is celebrating the return of the Salone del Mobile in Milan with the temporary opening of Fendi Bar — a reinterpretation of the renowned Fendi Caffè.

Rent the Runway hits subscriber record, sales up 100pc
Online fashion rental platform Rent the Runway is seeing strong momentum as it reached $67.1 million in revenue for the first quarter ending April 30, 2022, a 100 percent increase year-over-year.

Inspirato launches new hybrid travel subscription service
Luxury travel subscription service Inspirato has introduced a new subscription service designed for both personal and business use.

Inflation reaches 8.6pc, prompting Wall Street sell-off
Stocks fell significantly on June 10 after a new report from the U.S. Bureau of Labor Statistics revealed inflation hit a 40-year high.

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