Spotlight
Luxury sector prays for Notre-Dame shopfront
Subscribers only | France | Entourage | 07.14.2026
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FR
A major shake-up is underway at Versace, which was bought by its fellow Italian luxury label at the end of last year. Its new executive chairman, Lorenzo Bertelli, has been dismissing senior managers one by one and replacing them with Prada executives.
One of the time-honoured perks of staying at one of Paris’s ultra-luxury hotels was that guests were able to secure an exclusive appointment with Hermès and thereby access the highly sought-after Birkin and Kelly handbags that can be so difficult to buy in-store. But the practice has become so widespread and demand has grown so sharply that these appointments are becoming almost impossible to arrange, prompting frustration among the hotels’ well-heeled clientèle.
With an unprecedented lawsuit, private investigations, a standoff with new mayor Zohran Mamdani and deals with market vendors, the major luxury brands have stepped up their game in the war against counterfeits on New York City's infamous thoroughfare over the past year.
As Glitz predicted almost a year ago, the CEO and main shareholder of media giant Banijay decided this summer not to acquire a majority stake in the luxury events group The Independents. Having staked everything on this takeover, the luxury services provider now finds itself in a difficult position.
In order to sign Angèle, whose debut album has sold 1.5m copies and who performed at the Paris Olympic Games – Sony Music agreed not to take any commission from the pop star’s endorsement deal with Chanel.
A major shake-up is underway at Versace, which was bought by its fellow Italian luxury label at the end of last year. Its new executive chairman, Lorenzo Bertelli, has been dismissing senior managers one by one and replacing them with Prada executives.
One of the time-honoured perks of staying at one of Paris’s ultra-luxury hotels was that guests were able to secure an exclusive appointment with Hermès and thereby access the highly sought-after Birkin and Kelly handbags that can be so difficult to buy in-store. But the practice has become so widespread and demand has grown so sharply that these appointments are becoming almost impossible to arrange, prompting frustration among the hotels’ well-heeled clientèle.
With an unprecedented lawsuit, private investigations, a standoff with new mayor Zohran Mamdani and deals with market vendors, the major luxury brands have stepped up their game in the war against counterfeits on New York City's infamous thoroughfare over the past year.
By opening a Louis Vuitton shop in the coastal village that is home to New York’s wealthiest residents, LVMH and its CEO have driven up the real estate values so much that luxury boutiques and restaurants are struggling to find sales staff due to a lack of affordable housing.
Faced with a myriad of compensation claims from alleged victims of Mohamed Al-Fayed, his heirs nevertheless managed to restructure the debts of the prestigious hotel on Place Vendôme over the summer. But the banks insisted on far more extensive guarantees than they had in the past.
As Glitz predicted almost a year ago, the CEO and main shareholder of media giant Banijay decided this summer not to acquire a majority stake in the luxury events group The Independents. Having staked everything on this takeover, the luxury services provider now finds itself in a difficult position.
In order to sign Angèle, whose debut album has sold 1.5m copies and who performed at the Paris Olympic Games – Sony Music agreed not to take any commission from the pop star’s endorsement deal with Chanel.
The new strategic direction adopted by Luca de Meo and the bosses of certain Kering subsidiaries could spell bad news for the group’s creative directors.
Although Estée Lauder has agreed to a $210m settlement amid claims it misled investors over its cosmetics business in China, this is unlikely to be the end of the story. Executives implicated in the affair are facing targeted lawsuits, including current board chairman William Lauder.
In dire straits after its conviction for free-riding off Rolex, the luxury leather goods manufacturer has taken action against the family office that holds 49% of the group to force it to refinance. But the Gaspard family, which has already invested €31m without any return, is refusing to do so.
Having gone into administration earlier this summer, the high-end fashion brand is courting investors in the hope of tackling its substantial debts.
By opening a Louis Vuitton shop in the coastal village that is home to New York’s wealthiest residents, LVMH and its CEO have driven up the real estate values so much that luxury boutiques and restaurants are struggling to find sales staff due to a lack of affordable housing.
Faced with a myriad of compensation claims from alleged victims of Mohamed Al-Fayed, his heirs nevertheless managed to restructure the debts of the prestigious hotel on Place Vendôme over the summer. But the banks insisted on far more extensive guarantees than they had in the past.
Since devasting fires tore across parts of Los Angeles in January 2025, the billionaire developers from New Zealand have been buying up ravaged lots in a top-end district to build kit homes there for VIPs and other ultra-wealthy people.
The ex-emir of Qatar Hamad bin Khalifa al-Thani, who died in July, held a 50% stake in the high-end hotel group together with his cousin, former PM Hamad bin Jassem Jabr al-Thani. His heirs, who are at daggers drawn with their father’s partner, are busy unwinding the cross-shareholdings.
For several decades, prestigious ground-floor premises at three of Paris’s most sought-after addresses had been occupied by Iranian state companies. Two of them have now quietly moved out, freeing up spaces that the luxury industry has long coveted.
Despite the success of its accessory range, the fashion house founded by Azzedine Alaïa has been struggling since its creative director Pieter Mulier left for Versace in December. Its losses have doubled over the last two financial years.
The ambitious renovation plans look set to reshuffle the Paris luxury hotel deck.
The new strategic direction adopted by Luca de Meo and the bosses of certain Kering subsidiaries could spell bad news for the group’s creative directors.
Although Estée Lauder has agreed to a $210m settlement amid claims it misled investors over its cosmetics business in China, this is unlikely to be the end of the story. Executives implicated in the affair are facing targeted lawsuits, including current board chairman William Lauder.
In dire straits after its conviction for free-riding off Rolex, the luxury leather goods manufacturer has taken action against the family office that holds 49% of the group to force it to refinance. But the Gaspard family, which has already invested €31m without any return, is refusing to do so.
Having gone into administration earlier this summer, the high-end fashion brand is courting investors in the hope of tackling its substantial debts.
The ultra-luxury hotel in Paris’s Place Vendôme is doing good business, despite the legal jeopardy in which its shareholders currently find themselves. Would-be buyers nevertheless remain hopeful that the Al-Fayed family could be tempted to part with their prime asset under the pressure.
For the second year running, the widow and six children of the company's founder have not received any dividends from the eyewear manufacturer, despite its strong performance. This is due to family disputes that are paralysing their family office.
The Italian fashon house's new CEO is replacing managers left, right and centre in a bid to get the brand back on track. But due to poor handling, one of those departures has proved costly.
The exceptional property that used to belong to a cousin of the emir of Qatar had been on the market for a year before being snapped up by the founder of French telecoms firm Free.
Adored by fashionistas but put into liquidation this summer, the young French designer’s label is getting ready to bounce back.
Since devasting fires tore across parts of Los Angeles in January 2025, the billionaire developers from New Zealand have been buying up ravaged lots in a top-end district to build kit homes there for VIPs and other ultra-wealthy people.
The ex-emir of Qatar Hamad bin Khalifa al-Thani, who died in July, held a 50% stake in the high-end hotel group together with his cousin, former PM Hamad bin Jassem Jabr al-Thani. His heirs, who are at daggers drawn with their father’s partner, are busy unwinding the cross-shareholdings.
For several decades, prestigious ground-floor premises at three of Paris’s most sought-after addresses had been occupied by Iranian state companies. Two of them have now quietly moved out, freeing up spaces that the luxury industry has long coveted.
Despite the success of its accessory range, the fashion house founded by Azzedine Alaïa has been struggling since its creative director Pieter Mulier left for Versace in December. Its losses have doubled over the last two financial years.
The ambitious renovation plans look set to reshuffle the Paris luxury hotel deck.
The prospect of purchasing a townhouse with a huge garden in one of Paris's leading luxury thoroughfares is making the sector's major players salivate. But one member of the family that owns it is firmly opposed to any sale, as is the US Embassy…
Louis Vuitton’s creative director for menswear these last three years is busy renovating ahead of moving into the luxury mansion whose purchase Glitz revealed in 2025. It is a sign of his commitment to LVMH at a time when the fashion giant is reconsidering Vuitton’s creative direction.
Rather than allow the Indian conglomerate Tata to run its retail outlets in the emirate, the London-based diamond dealer chose instead to regain control of these exclusive salons, even at a steep price.
She may have embarked on a major revamp of her Sézane label, but the French entrepreneur has also been embroiled in a legal dispute over her former brand identity.
Sported by the likes of Kylie Jenner and Lisa of Blackpink, the creations of the Parisian designer have made an impact on the French fashion scene. But her eponymous brand is in need of a reboot after finding itself unable to pay its bills.
The ultra-luxury hotel in Paris’s Place Vendôme is doing good business, despite the legal jeopardy in which its shareholders currently find themselves. Would-be buyers nevertheless remain hopeful that the Al-Fayed family could be tempted to part with their prime asset under the pressure.
For the second year running, the widow and six children of the company's founder have not received any dividends from the eyewear manufacturer, despite its strong performance. This is due to family disputes that are paralysing their family office.
The Italian fashon house's new CEO is replacing managers left, right and centre in a bid to get the brand back on track. But due to poor handling, one of those departures has proved costly.
The exceptional property that used to belong to a cousin of the emir of Qatar had been on the market for a year before being snapped up by the founder of French telecoms firm Free.
Adored by fashionistas but put into liquidation this summer, the young French designer’s label is getting ready to bounce back.
Cedric Charbit's move to expand his remit at the expense of creative director Anthony Vaccarello is creating waves at Kering's flagship brand and starting to worry its top management.
Already the owner of a Bombardier Global Express, the Graff family has placed an order for the first private jet capable of flying non-stop from New York to Shanghai.
Rodeo Drive may cherish its ultra-exclusive reputation, built on the luxury mega-stores that dominate the thoroughfare. But unlike comparable destinations such as Paris’s Rue de la Paix and London’s Bond Street, where every inch of retail space is taken, vacant lots abound in this L.A. shopping hotspot.
The Saudi owners of the building the French luxury giant is occupying while its HQ is being refurbished have been demanding higher rents. A court ruling is pending.
The prospect of purchasing a townhouse with a huge garden in one of Paris's leading luxury thoroughfares is making the sector's major players salivate. But one member of the family that owns it is firmly opposed to any sale, as is the US Embassy…
Louis Vuitton’s creative director for menswear these last three years is busy renovating ahead of moving into the luxury mansion whose purchase Glitz revealed in 2025. It is a sign of his commitment to LVMH at a time when the fashion giant is reconsidering Vuitton’s creative direction.
Rather than allow the Indian conglomerate Tata to run its retail outlets in the emirate, the London-based diamond dealer chose instead to regain control of these exclusive salons, even at a steep price.
She may have embarked on a major revamp of her Sézane label, but the French entrepreneur has also been embroiled in a legal dispute over her former brand identity.
Sported by the likes of Kylie Jenner and Lisa of Blackpink, the creations of the Parisian designer have made an impact on the French fashion scene. But her eponymous brand is in need of a reboot after finding itself unable to pay its bills.
The nightlife institution in the French capital's Saint-Germain area since the 1960s is to restructure its shareholding – and plenty of rich suitors are ready to pounce.
At the end of June, the seven Del Vecchio heirs were unable to reach agreement on any of the resolutions on the agenda for their family office’s general meeting. Since then, several of them have found ways to work around the stalemate imposed by the bitter feud that is tearing the family apart.
Amid difficult market conditions, Christie's, Sotheby's and Bonhams are all considerably increasing the commission fees they charge to buyers at their sales.
Following on from New York, the luxury jewellery house is opening new boutiques in two of Europe’s luxury capitals. The move comes amid strong recent growth, marred only by financial struggles in the US.
Cedric Charbit's move to expand his remit at the expense of creative director Anthony Vaccarello is creating waves at Kering's flagship brand and starting to worry its top management.
Already the owner of a Bombardier Global Express, the Graff family has placed an order for the first private jet capable of flying non-stop from New York to Shanghai.
Rodeo Drive may cherish its ultra-exclusive reputation, built on the luxury mega-stores that dominate the thoroughfare. But unlike comparable destinations such as Paris’s Rue de la Paix and London’s Bond Street, where every inch of retail space is taken, vacant lots abound in this L.A. shopping hotspot.
The Saudi owners of the building the French luxury giant is occupying while its HQ is being refurbished have been demanding higher rents. A court ruling is pending.
After focusing on the role of the Swiss financier Eric Freymond and his entourage, the financial division of the Paris judicial court, which for the last two years has been investigating the disappearance of Nicolas Puech’s shares in Hermès, has now turned its attention to LVMH. This summer, the investigating judge interviewed Jean-Jacques Guiony, who was the group’s CFO at the time and now runs the luxury giant’s wines and spirits division, Moët Hennessy.
The British brand Joseph has just cancelled its London fashion show at the last minute. Glitz understands that its Japanese owners, Onward Holdings, are looking to sell the label.
The consultancy giant, which has been acting as administrator for the London department store since it went into administration this summer, was previously Harvey Nichols’ financial adviser and has ruled that its consultancy fees should be paid as a matter of priority. It's a conflict of interest that's proving controversial.
Potential buyers of the luxury Rohan-Montbazon townhouse in the heart of the French capital have been put off by tensions among the owners and the poor state of certain parts of the property. But if the sale does go through, a Catholic congregation will stand to pocket several million euros.
Owned by the Sultante of Brunei's Dorchester Group, the luxury Parisian establishment is providing a wide range of services for those who stay in the city's Golden Triangle, whether they live there year-round or are merely passing through.
The designer has scored an initial victory against her previous associates, with whom she is embroiled in a protracted legal battle. But she did not emerge from court entirely unscathed.
The nightlife institution in the French capital's Saint-Germain area since the 1960s is to restructure its shareholding – and plenty of rich suitors are ready to pounce.
At the end of June, the seven Del Vecchio heirs were unable to reach agreement on any of the resolutions on the agenda for their family office’s general meeting. Since then, several of them have found ways to work around the stalemate imposed by the bitter feud that is tearing the family apart.
Amid difficult market conditions, Christie's, Sotheby's and Bonhams are all considerably increasing the commission fees they charge to buyers at their sales.
Following on from New York, the luxury jewellery house is opening new boutiques in two of Europe’s luxury capitals. The move comes amid strong recent growth, marred only by financial struggles in the US.
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