Fashion
Luxury: mergers and acquisitions slow in 2024 but still appeal to investment funds, says Deloitte
Published
September 17, 2025
After the post-Covid recovery, mergers and acquisitions in the fashion and high-end sectors have slowed over the past two years. Even so, despite the economic climate, the sector continues to attract nine out of ten investors in 2025, although most are concerned about customs duties.
These are the findings of Deloitte‘s latest report, “Fashion & Luxury Private Equity and Investors Survey 2025″, which previews the main trends ahead of its publication on September 25.
The survey was conducted worldwide across a panel of 60 private equity investors and more than 114 companies active in the fields of Clothing & Accessories, Watches & Jewellery, Cosmetics & Fragrances, luxury automobiles, luxury hotels, private jets, cruises, furnishings, yachts and luxury restaurants.
In 2024, the high-end segment recorded 308 deals, compared with 333 in 2023, that is 25 fewer year on year. Notably, last year saw the acquisition of luxury platform YNAP by German e-commerce firm Mytheresa from Swiss luxury group Richemont, while the planned merger between US giants Capri, owner of Michael Kors, and Tapestry, owner of Coach, fell through. The first half of 2025, marked by the acquisition of Versace by the Prada Group for €1.25 billion, confirms the general slowdown, with only 162 transactions compared with 188 a year earlier, a decline of 14%.
In the luxury goods segment alone, which accounts for 40.2% of total transactions, the number of deals closed last year fell by 6.3%. Breaking it down: clothing & accessories, the most attractive M&A sector, totalled 85 transactions in 2024, 20 fewer than the previous year. Similarly, watches & jewellery saw 15 deals in 2024, compared with 17 a year earlier. Only cosmetics & fragrances bucked the trend, jumping from 21 to 34 deals in one year (+13).
Leading the overall ranking for 2024, as usual, are luxury hotels, with 145 transactions (+1), followed by clothing & accessories (an industry that remains attractive nonetheless), then furnishings with 23 deals (+10), and yachts and automobiles with 11 each (-5 for the former and -13 for the latter between 2023 and 2024).

For 2025, “despite a macroeconomic and geopolitical context that remains marked by high uncertainty, the fashion and luxury sector continues to attract investor interest. 92% of funds are considering transactions in this sector, albeit more cautiously than last year,” said Elio Milantoni, a partner at Deloitte, in a press release.
“More than half are directing their strategies towards medium-sized companies, with the aim of encouraging a process of consolidation in the sector. At the same time, we are seeing a shift in investment preferences towards segments complementary to the world of fashion and luxury goods”, he continued.
In terms of size, the average value of M&A deals completed in 2024 is around €260 million, slightly down on 2023 (-4%), with an ever-greater focus on medium-sized targets, confirming the growing interest in medium-sized transactions.
Another trend identified by the consultancy is the concern around customs duties. Eight out of ten investors surveyed believe this issue will have a negative impact on the market, with North America (35%), Europe (33%) and Asia (29%) seen as the regions most exposed to rising trade barriers.
Geographically, investors still see Europe (75%) as the region with the greatest potential for luxury transactions, followed by North America (23%). In 2024, Europe accounted for the highest number of deals (210), 14 more than in 2023, while North America recorded only 54 (-23) and Asia-Pacific just 33 (-29).
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Fashion
Nylon chips & CPL drop over 5% in final week of April, chain follows
Caprolactam (CPL) prices initially held near $*.**–*.**/kg with minimal movement, while nylon chips saw uptick to ~$*.***/kg (+*.* per cent WoW) driven by short-term restocking. Nylon filament yarn (DTY **D/**F) prices remained stable at ~$*.**–*.**/kg, supported by existing inventory and steady downstream textile operations.
By the second week (April * to April **), benzene stabilised, but caprolactam began to weaken to ~$*.**–*.**/kg (−*.* per cent WoW), signalling the start of broader chain pressure. Nylon chips responded with a mild correction to ~$*.***/kg (−* per cent WoW), while filament yarn prices continued to hold steady due to inventory buffers and ongoing execution of prior textile orders. In the third week (Apr **–**), caprolactam stable to ~$*.*/kg, and chips followed to ~$*.***/kg (Stable WoW).
Fashion
Vietnam attracts $18.24 bn FDI in January-April 2026, trade up
Total registered FDI, including newly registered and adjusted capital, along with foreign investors’ contributions and share purchases, reached $18.24 billion as of April 27, up 32 per cent year on year (YoY), according to the Ministry of Finance’s National Statistics Office (NSO).
Vietnam attracted $18.24 billion in FDI in January–April 2026, up 32 per cent, driven by manufacturing and processing.
Realised FDI hit a five-year high, signalling continued capacity expansion.
Trade surged to $344.17 billion, supported by strong US demand and rising imports from Asia, highlighting deeper global supply chain integration and export momentum.
A total of 1,249 new projects were licensed with combined registered capital of $12.15 billion, reflecting a 3.7 per cent annual increase in project numbers and a 2.2-fold rise in value. Manufacturing and processing dominated, attracting $8.12 billion, or 66.8 per cent of total newly registered capital.
Realised FDI in the January–April period was estimated at $7.40 billion, up 9.8 per cent YoY and marking the highest level for the period in the past five years. Of this, the manufacturing and processing sector disbursed $6.12 billion, accounting for 82.7 per cent. Meanwhile, 316 existing projects registered additional capital of $3.13 billion, representing a sharp 51 per cent decline compared to the same period last year. Combining newly registered and adjusted capital, total FDI into manufacturing and processing reached $10.49 billion, or 68.6 per cent of the total.
Foreign investors carried out 976 capital contribution and share purchase transactions worth $2.96 billion, up 61.9 per cent YoY. Among these, 325 deals increased enterprises’ charter capital by $445.13 million, while 651 share acquisitions without capital increases totalled $2.51 billion. Wholesale and retail trade led these investments, capturing $1.89 billion, or 63.9 per cent.
Among 53 countries and territories with newly licensed projects, Singapore was the largest investor with $6.05 billion, accounting for 49.8 per cent of the total. It was followed by the Republic of Korea with $4.08 billion (33.6 per cent), China with $524.1 million (4.3 per cent), Japan with $462 million (3.8 per cent), Hong Kong (China) with $329.2 million (2.7 per cent), and the Netherlands with $318.5 million (2.6 per cent).
On the trade front, Vietnam’s total trade with the rest of the world was estimated at $344.17 billion in the first four months of 2026, a significant increase from $277.21 billion in the same period last year, the NSO said. In April alone, trade volume reached an estimated $94.32 billion, rising 8 per cent from March and 26.7 per cent YoY.
The United States remained the largest importer of Vietnamese goods, with imports valued at $53.9 billion, while China continued as the top supplier with $69 billion. Imports from traditional markets also surged, with South Korea and ASEAN recording growth rates of 57.8 per cent and 44.3 per cent, respectively.
Fibre2Fashion News Desk (MS)
Fashion
Global fashion brand Cider opens first permanent store in Los Angeles
The store translates Cider’s digital identity into an exciting retail experience through its signature “Pick a Mood” concept. The space is organized across multiple distinct moods: Cute, Elegant and Free, alongside dedicated occasion-based categories including Vacation, Workwear, Essentials, Special Occasion, and Lingerie & Intimates.
Cider’s first permanent LA store marks its transition from a digital-first model to an omnichannel strategy, bringing its ‘Pick a Mood’ concept into a physical, immersive retail space.
The move strengthens community engagement through curated in-store experiences, local collaborations and events, while signalling broader expansion plans and deeper brand visibility.
Paying homage to its new home at The Original Farmers Market, the brand will debut a Farmers Market–inspired collection, available in-store and globally online on April 17. The Original Farmers Market Collection will feature a playful assortment of food-inspired graphics, checkered prints, and handcrafted details such as crochet, embroidery, and linen textures across apparel, swim, and accessories.
“We chose The Original Farmers Market because it’s one of the most vibrant and influential retail destinations in LA and even California,” said Fenco Lin, Co-Founder of Cider. “It brings together culture, energy, and everyday life in a way that truly reflects how our Cider community shops and lives. For our first store, we’re excited to create a space where people can not only discover Cider in person, but also feel inspired, relaxed, and connected to the brand.”
From April 17 to 19, 2026, Cider celebrated its grand opening with a curated lineup of in-store moments designed for discovery and connection, from shareable photo experiences to exclusive gifts with purchase and limited Los Angeles–inspired giveaways.
Extending beyond opening weekend, the brand will host “Cider Sundays,” a weekly series of community-led gatherings featuring collaborations with Los Angeles–based creators, neighborhood cafés and local businesses, alongside stylist-led Cider Club experiences that bring the #cidergang together IRL.
The 7,800-square-foot retail space marks Cider’s first permanent store, opening at Los Angeles’ Original Farmers Market. As a key market and home base for the brand, Los Angeles provides a natural setting for this milestone, while the Farmers Market’s longstanding reputation as a hub of culture and community makes it an ideal destination to bring the Cider audience together in person.
Following the brand’s Los Angeles debut, Cider plans to expand with a second retail location at Westfield Valley Fair in San Jose later this summer.
The store officially opened April 17, 2026, and is located at 6333 W 3rd St, Ste P-20. The store will be open Monday through Thursday from 10 a.m. to 9 p.m., Friday and Saturday from 10 a.m. to 10 p.m., and Sunday from 11 a.m. to 8 p.m. PST. The Original Farmers Market collection will be available online April 2nd, 2026.
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 (MS)
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