Fashion
Giorgio Armani passes away aged 91
Published
September 4, 2025
Giorgio Armani, the most influential Italian fashion designer in history and the defining tailor of his time, has passed away. He was aged 91.
“With infinite sorrow, the Armani Group announces the passing of its creator, founder, and tireless driving force: Giorgio Armani,” the company said in a release.
Il Signor Armani, as he was always respectfully and admiringly called by employees and collaborators, passed away peacefully, surrounded by his loved ones. Indefatigable to the end, he worked until his final days, dedicating himself to the company, the collections, and the many ongoing
and future projects, it added.
“Over the years, Giorgio Armani has crafted a vision that expanded from fashion to every aspect of life, anticipating the times with extraordinary clarity and pragmatism. He has been driven by relentless curiosity and a deep attention to the present and to people. Along this journey, he established an open dialogue with the public, becoming a beloved and respected figure for his ability to connect with everyone,” the Milan based house said.
The funeral chamber will be set up from Saturday, September 6th to Sunday, September 7th, and will be open from 9 a.m. to 6 p.m., in Milan, at Via Bergognone 59, inside the Armani/Teatro.
In accordance with Mr. Armani’s explicit wishes, the funeral will be held private.
Always mindful of the needs of the community, he has been active on many fronts, especially in support of his beloved Milan.
Giorgio Armani is a company with fifty years of history, built with emotion and patience. Giorgio Armani always made independence – of thought and action – his hallmark. The company is, now and always, a reflection of this spirit. His family and employees will carry the Group forward in respect and continuity of these values.
“In this company, we have always felt like part of a family. Today, with deep emotion, we feel the void left by the one who founded and nurtured this family with vision, passion, and dedication. But it is precisely in his spirit that we, the employees and the family members who have always worked alongside Mr. Armani, commit to protecting what he built and to carrying his company forward in his memory, with respect, responsibility, and love,” the statement from his employees and his family read.
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At a seminar organised by BKMEA at the Global Sourcing Expo 2025 in Purbachal, BKMEA president Mohammad Hatem said the changes in labour laws for this sector appear to have shown the ‘seeds of destruction’, just the way it happened to the jute sector. The impact will be visible later, he noted.
The domestic apparel industry may face a crisis similar to the one witnessed by the country’s jute sector once, trade body BKMEA recently cautioned.
At a seminar, BKMEA president Mohammad Hatem said the ‘deceptive’ reforms in labour laws for this sector appear to have shown the ‘seeds of destruction’, just the way it happened to the jute sector.
The impact will be visible later, he noted.
Calling the reforms ‘deceptive’, he lamented: “We feel somewhat betrayed. We are ready to hand over the keys of our factories within a year to them; we hope they will be able to run the industry as well as they run the government.”
IFIC Bank managing director Syed Mansur Mustafa said the reasons behind the reported closure of 400 factories should be properly probed, according to domestic media reports.
Federation of Bangladesh Chambers of Commerce and Industry (FBCCI) administrator Mohammad Abdur Rahim Khan said the narrowness of Bangladesh’s export basket becomes evident during trade negotiations.
Fibre2Fashion News Desk (DS)
By
Reuters
Published
December 5, 2025
Ulta Beauty raised its annual sales and profit forecast on Thursday, betting on strong demand for its makeup and skincare products going into the holiday season.
Shares of the company, which also reported third-quarter results above estimates, were up about 5% in trading after the bell.
The cosmetic retailer enjoyed strong sales at its outlets, helped by its trendy and affordable offerings, along with marketing efforts, which helped attract shoppers, especially younger demographics.
Ulta also benefits from fast-growing demand for fragrances, as well as the popularity of celebrity-owned labels on its shelves, including Rihanna‘s Fenty Beauty.
The positive outlook comes at a time when budget-conscious consumers are pulling back on discretionary spending amid macroeconomic uncertainty, causing expectations of muted holiday spending in the U.S. this year.
“As we look ahead to the all-important holiday season, we know many consumers’ wallets are pressured and they are seeking value,” CEO Kecia Steelman said in a statement.
The company now expects annual net sales of about $12.3 billion, compared with its prior forecast of $12 billion to $12.1 billion.
It expects comparable sales to rise in the range of 4.4% to 4.7% in fiscal 2025, compared with its prior growth forecast of 2.5% to 3.5%.
Ulta Beauty said it expects annual profit of $25.20 to $25.50 per share, higher than its prior forecast of $23.85 to $24.30.
Third-quarter sales rose 12.9% to $2.86 billion, compared with the average analyst estimate of $2.72 billion, while earnings per share of $5.14 beat estimates of $4.64, as per data compiled by LSEG.
Meanwhile, lower e-commerce shipping costs and inventory shrink – a term used for lost or damaged stock – helped the company’s margins.
© Thomson Reuters 2025 All rights reserved.
By
Bloomberg
Published
December 5, 2025
A new crop of Chinese gold jewelry brands are attracting investor interest in the wake of Laopu Gold Co.’s breakout success.
Hangzhou-based Borland, a gold jeweler specializing in traditional Chinese goldsmith technique known as “filigree”, said this week it has raised more than 100 million yuan ($14 million) from investors including Kering Ventures, the startup investment arm of Kering SA, and Shunwei Capital, a top Chinese venture capital firm co-founded by billionaire Xiaomi Corp. chairman Lei Jun.
Kering said the small minority interest in Borland through Kering Ventures enables the company to “participate in the development of a rapidly growing brand in the particularly buoyant 24-karat gold jewelry segment”.
Separately, Dayone Capital in recent days announced a strategic investment worth more than 100 million yuan in Lamchiu, a maker of hand-crafted bespoke pieces based in the northwest Chinese city of Lanzhou.
China’s high-end gold jewelry boom has been fueled by the surprise rise of Laopu, which has defied the weak performance seen among Western luxury rivals in China. Laopu’s revenue in the first half of 2025 soared more than 250% year-on-year to 12.4 billion yuan, on top of 168% sales growth the year before.
“Laopu has shown the market that this niche sector can continue to break out, and rising gold prices also help lift the overall buzz,” said Richard Lin, a consumer analyst with SPDB International Holdings Ltd. “The rising investment and financing enthusiasm for the heritage gold segment is clearly driven by confidence in the category’s long-term growth potential.”
Heritage gold jewelry refers to gold pieces rooted in Chinese culture and traditional goldsmith techniques, including filigree work. With stores in top-tier malls, Laopu’s clientele overlaps — and increasingly threatens — stalwarts from Hermès International SCA to Richemont-owned Cartier.
Still, while Borland and Lamchiu have official stores on e-commerce platforms like Alibaba Group Holding Ltd.’s Tmall and JD.com Inc., both have a limited physical presence — Borland operates just three mall outlets and Lamchiu, despite more than 1 million followers on ByteDance Ltd.’s TikTok-like Douyin, has only one Lanzhou storefront.
Borland said it will use the new funding to expand distribution and boost supply chain resilience. Dayone has formed a team to help Lamchiu with similar tasks.
RBI Slashes India’s Inflation Forecast To 2% For 2025-26
Bangladesh’s apparel sector may face crisis similar to jute’s: BKMEA
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