Asia Fashion Weekly News Bulletin – ISSUE 25 Week of 28 July 2025
(1) LVMH said to be in talks to offload fashion label Marc Jacobs
LVMH is reportedly in talks to sell fashion label Marc Jacobs as part of a strategic shift in its luxury portfolio.
(2) Ermenegildo Zegna Transfers 10% Ownership to Temasek
Singaporean investment company Temasek is acquiring a 10% stake in Ermenegildo Zegna for US$126.4 million.
(3) Gap Recruits Nike Talent Again: Maggie Gauger Named CEO of Athleta
Gap has appointed Maggie Gauger as global brand president and CEO of Athleta, following Chris Blakeslee’s resignation.
(4) U.S. Market Drives SMCP: Achieves 3.3% Growth in Second Quarter Amid China’s Setback
SMCP boosted sales and profitability in the second quarter through full-price strategy, US expansion, and stable performance in Europe.
(1) LVMH said to be in talks to offload fashion label Marc Jacobs
(Photo Credit: Reuters/ Valentyn Ogirenko)
French luxury group LVMH is reportedly in talks to sell its fashion label Marc Jacobs, with potential buyers including Authentic Brands Group, WHP Global and Bluestar Alliance. The deal could be worth around US$1 billion, and discussions are said to be confidential but progressing. LVMH has previously denied similar reports, though it now appears to be actively exploring options to streamline its portfolio.
Marc Jacobs, founded in 1984 and known for its bold and eclectic designs, became part of LVMH after the designer was appointed to lead Louis Vuitton in 1997. The brand has undergone several strategic changes over the years, and a sale would mark a significant shift in its direction. LVMH has recently divested other labels such as Off White and Stella McCartney, suggesting a broader effort to refocus its business.
Industry analysts believe LVMH may be reallocating resources to higher growth areas within its luxury portfolio. The company has faced market challenges, including a drop in profits and changing consumer trends, prompting a reassessment of its brand strategy. If the sale goes ahead, Marc Jacobs could enter a new phase under different ownership, potentially expanding its reach and refreshing its image.
News Source: https://brandequity.economictimes.indiatimes.com/news/business-of-brands/lvmh-said-to-be-in-talks-to-offload-fashion-label-marc-jacobs/122946466?utm_source=portal_category_widget&utm_medium=homepage
(2) Ermenegildo Zegna Transfers 10% Ownership to Temasek
(Photo Credit: Modaes)
Italian fashion house Ermenegildo Zegna has welcomed Singapore-based investment firm Temasek as a new strategic partner. Temasek will acquire 14.1 million shares through its subsidiary Venezio Investments at a price of US$8.95 per share, totalling US$126.4 million. Combined with its earlier market purchases, Temasek will hold 26.8 million shares, representing 10% of Zegna’s capital.
Zegna, listed on the New York Stock Exchange, is looking to strengthen its global expansion and financial flexibility through this partnership. The company has faced modest performance recently, with a 0.9% drop in turnover in the first quarter of the year and a 33% decline in net profit for 2024. Sales for the first three months of 2025 stood at €458.82 million, slightly down from €463.16 million in the same period last year.
Founded in 1910, Zegna operates a network of 666 points of sale, including 465 own stores and 201 wholesale outlets. The majority of these locations are branded under Zegna, reflecting the company’s continued focus on its core identity. The investment from Temasek is expected to support Zegna’s efforts to grow in key markets and reinforce its position in the high-end luxury segment.
News Source: https://www.modaes.com/global/companies/ermenegildo-zegna-sells-10-stake-in-the-company-to-temasek-fund
(3) Gap Recruits Nike Talent Again: Maggie Gauger Named CEO of Athleta
(Photo Credit: Modaes)
Gap has appointed Maggie Gauger, a long-time Nike executive, as the new global brand president and chief executive of Athleta. She will take over from Chris Blakeslee on 1 August 2025, with the aim of revitalising the women’s sportswear brand. Gauger brings two decades of experience from Nike, where she led the North American women’s division and was responsible for driving growth and customer engagement.
The company is counting on Gauger to turn around Athleta’s performance, which saw a decline in sales during the first quarter of the year. Gap has already brought in other talent from Nike, including Tanya Flynn as chief design officer, to strengthen its leadership team. Despite challenges at Athleta and Banana Republic, Gap and Old Navy helped the group achieve over 2% growth in the quarter and a 22% rise in net income.
Founded in the late 1960s, Gap began as a retailer for Levi’s products before launching its own brand in 1972. Today, it operates several fashion labels including Gap, Banana Republic, Old Navy, Athleta and Intermix, and is recognised as the third largest fashion distribution company in the world. The group hopes its new leadership will help unlock Athleta’s potential and boost its position in the activewear market.
News Source: https://www.modaes.com/global/companies/gap-re-signs-talent-at-nike-appoints-maggie-gauger-as-athleta-ceo
(4) U.S. Market Drives SMCP: Achieves 3.3% Growth in Second Quarter Amid China’s Setback
(Photo Credit: Modaes)
French fashion group SMCP, which owns Sandro, Maje, Claudie Pierlot and Fursac, reported sales of €304.5 million for the second quarter, up 3.3%. The company more than doubled its operating income to €42.6 million and posted a net profit of €11 million, reversing a loss from the previous year. Strong financial discipline helped reduce net debt by 30% and generate record free cash flow of €33.1 million.
Growth was driven by strong performance in the Americas and the Europe, Middle East and Africa region, supported by full-price sales and expansion into new markets. Sales in France remained flat, while Asia-Pacific declined due to store closures in China. Despite this, SMCP saw encouraging signs in Southeast Asia and new markets such as India and the Philippines.
By brand, Sandro and Maje continued to grow, accounting for over 88% of total sales, while Claudie Pierlot and Fursac saw a slight decline. The company closed 20 stores in the first half of the year as part of its network optimisation strategy. SMCP ended the period with 1,642 outlets worldwide and remains focused on maintaining its positive momentum through the second half of the year.
News Source: https://www.modaes.com/global/companies/us-pulls-smcp-33-growth-in-second-quarter-despite-chinas-slowdown
