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News briefs

Day’s wrap: Trump Organization indictment, Kering, Fendi and Ralph & Russo

July 1, 2021

The Trump Building at 40 Wall Street in Manhattan. Image credit: 40 Wall Street

 

Luxury Daily’s live news for July 1:

Trump Organization, CFO charged with tax crimes dating to 2005
Private U.S. business conglomerate the Trump Organization and its chief financial officer have been charged with felony tax crimes in New York.

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Kering Foundation pledges financing for women’s centers in France
French luxury goods conglomerate Kering is expanding its existing support for combating violence against women by helping fund the opening of 15 women’s centers across its home country.

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LVMH’s Fendi, Thélios debut first eyewear collaboration
Italy’s Fendi and eyewear company Thélios are exclusively partnering on the design, development, production and distribution of the fashion label’s eyewear category.

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Ralph & Russo sold to ecommerce group
British couture house Ralph & Russo has been acquired by Retail Ecommerce Ventures (REV), the latest indication that the luxury fashion sector is undergoing a period of consolidation.

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Is fur-free the new standard of fashion?
As sustainability remains a top concern among global luxury consumers, increasing numbers of fashion brands and retailers are ceasing the production and distribution of animal materials.

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