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This year saw a series of acquisitions and mergers in fashion, luxury and beauty marked by a need to grab at new consumer dollars, win over younger generations and absorb the competition in order to consolidate newcomer markets. Here are the top takeaways of the industry’s year of major fashion deals.
Luxury invested in new areas
Major luxury groups are adapting to the changing customer landscape and looking to combat the slowed growth of luxury apparel — which Bain & Co. predicts will grow by a dismal 2 to 3 percent over the next five years — by reaching into new, buzzy markets. LVMH Group led the charge in this arena, announcing the acquisition of bicycle brand Pinarello in October as part of a push toward the wellness sector. The firm involved with the acquisition, L Catterton, which is partly owned by LVMH, did not disclose details of the acquisition.
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