Fashion
EssilorLuxottica prepared to buy 5%-10% of Armani
By
Bloomberg
Published
November 23, 2025
Eyewear giant EssilorLuxottica SA is prepared to buy a 5% to 10% stake of Giorgio Armani SpA, following the death of the fashion house’s founder, Il Sole 24 Ore reported, without saying where it got the information.
EssilorLuxottica would acquire the stake without having any active role in Armani or representation on its board, the newspaper said on Saturday.
Spokespeople for EssilorLuxottica and Armani declined to comment on the report when contacted by Bloomberg.
In his will, Giorgio Armani opened the door to a possible sale of the company he founded and nurtured for 50 years.
The Italian fashion mogul, who died in September at age 91, directed his heirs to sell an initial stake of 15% in Giorgio Armani to one of three preferred buyers — LVMH Moet Hennessy Louis Vuitton SE, EssilorLuxottica or L’Oréal SA — or a company of similar standing within 18 months.
Should his heirs agree, that buyer would then have the opportunity to raise its stake to a majority after three years, according to the will. As an alternative, Armani could be listed on a public stock market.
A spokesperson for EssilorLuxottica, the world’s largest eyewear group, said at the time that the company “will carefully evaluate” a potential purchase of a stake in Armani.
By
Reuters
Published
November 23, 2025
Irish fashion designer Paul Costelloe, personal designer to the late Princess Diana who became a fixture at London Fashion Week for four decades, has died aged 80, his family said in a statement on Saturday quoted by local media.
Costelloe was appointed as Diana’s personal designer in 1983, shortly after establishing his own label, Paul Costelloe Collections, and their collaboration continued until her death in a car crash in Paris in 1997.
Costelloe, who led the development of all his collections from his studio in central London, was invited to show at the city’s premier catwalk event in its inaugural year in 1984 and was there in September to present his latest spring-summer creations.
Costelloe died peacefully surrounded by his wife and seven children in London following a short illness, the family said in the statement quoted by local media. A spokesperson for Costelloe could not immediately be reached for comment.
Costelloe was born in Dublin in 1945, where he initially trained before moving to Paris’ revered Chambre Syndicale de la Haute Couture and then to another fashion capital, Milan, where he was designer for the luxury department store La Rinascente.
He spent some time in New York where he established his own label before settling in London, where his partnership with Princess Diana flourished. His collections today include womenswear, menswear, bags, homeware and jewellery.
“Paul led a remarkable life as a leading figure in Irish, UK and international fashion and business for decades. He built a hugely successful business through incredible talent, discipline, and an unwavering commitment to quality,” Ireland’s Deputy Prime Minister Simon Harris said in a statement.
“His was and is a quite remarkable Irish success story.”
© Thomson Reuters 2025 All rights reserved.
The company has initiated a global search for its next CFO, and during the transition Melissa Stone will serve as Interim CFO. Stone, who has been with PVH for more than two decades, is currently Executive Vice President, Global Financial Planning & Analysis. During her tenure at the company, she has held a series of senior finance roles of increasing responsibility including SVP Accounting, and Assistant Corporate Controller.
PVH Corp has announced the exit of CFO Zac Coughlin, who will stay through year-end and join the upcoming Q3 earnings call.
A global search has begun for his successor, with Melissa Stone appointed Interim CFO.
CEO Stefan Larsson thanked Coughlin for driving the PVH+ Plan and affirmed confidence in Stone.
The company reaffirmed its Q3 and full-year 2025 revenue and earnings guidance.
“I want to thank Zac for his partnership and contributions over the past several years,” said Stefan Larsson, Chief Executive Officer of PVH Corp. “He has played an integral role in advancing our PVH+ Plan progress and significantly driving cost efficiencies. As we continue on our journey to unlock the full potential of Calvin Klein and TOMMY HILFIGER, we would like to wish Zac continued success in his next chapter.”
“Melissa has extensive experience across our company’s financial operations and brings a deep understanding of our global business to this interim role,” continued Larsson. “I’d like to thank Melissa for stepping in as we conduct a search for our next CFO.”
“I’m so proud to have had this unique opportunity to be a part of shaping this chapter in PVH’s growth journey. I look forward to seeing continued momentum of the PVH+ Plan with the strong team in place under Stefan’s leadership,” commented Coughlin.
The Company is reaffirming its third quarter and full year 2025 guidance for revenue and earnings on a non-GAAP basis, as previously announced in its earnings release on August 26, 2025.
Note: The headline, insights, and image of this press release may have been refined by the Fibre2Fashion staff; the rest of the content remains unchanged.
Fibre2Fashion News Desk (RM)
India’s withdrawal of the Quality Control Order (QCO) on several polymer and fibre intermediates is set to lift cost pressures for downstream textile producers, particularly readymade garment exporters, as per Crisil Ratings.
India’s removal of QCO norms on polymer and fibre intermediates will lower input costs for textile exporters.
Polyester yarn manufacturers are expected to post flatter 3–5 per cent revenue growth as cheaper imports drag down realisations.
Interest cover is set to weaken to 2.7–2.9 times as crude volatility and tariff gaps continue to pressure the upstream segment.
The move will make raw material imports cheaper and support volumes, but polyester yarn manufacturers could see flat revenue growth of 3–5 per cent next fiscal due to lower realisations, heightened import competition and softened crude prices.
The Ministry of Chemicals and Fertilisers scrapped the QCO on November 12, 2025, reversing a mandate introduced in October 2023 that required BIS certification to curb the influx of cheaper Chinese polyester yarn. The change is expected to ease sourcing for apparel makers, who derive 25–30 per cent of their revenue from exports, a third of which go to the US.
The home textile sector, which earns two-thirds of its revenue from exports—55–60 per cent to the US—is likely to gain less due to its stronger tilt toward cotton-based products, Crisil Ratings said in a release.
Industry analysis of 20 polyester yarn producers, representing 40–45 per cent of sector revenue, indicates weakening margins and a decline in interest cover to 2.7–2.9 times next fiscal from 3.5–3.7 times this year.
Persistent tariff disparities with competing nations, fallout from US trade actions and volatility in crude-linked input prices remain key risks across the textile chain.
Fibre2Fashion News Desk (HU)
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