Rag & Bone is set to launch its first-ever watch collection.

The New York-based fashion brand, jointly owned by Guess and global brand management firm WHP Global, has announced a new five-year licensing agreement with Sequel, a division of Timex Group and longtime Guess watch partner, to create and distribute a premium line of watches under the Rag & Bone name.

The inaugural Rag & Bone watch collection is set to launch in Fall 2025 and will be available in premium department stores, specialty retailers, and Rag & Bone boutiques worldwide.

“As one of our first licensees, Guess has been partnering with Sequel for over 40 years in designing high quality fashion watches,” said Paul Marciano, Guess co-founder and chief creative officer.

“Since the acquisition of Rag & Bone, we believe this is another extension of the business from which Rag & Bone will benefit. With the expertise, knowledge, and attention to detail of the highly talented team, we are confident that it will be a great addition to the lifestyle of Rag & Bone.”

Founded in 2002, Rag & Bone has earned a loyal following for its modern take on American style, blending traditional craftsmanship with modern cultural references.

The upcoming watch collection marks the brand’s latest expansion into lifestyle categories. Last month, it announced a five-year licensing partnership with Signal Brands to develop and expand Rag & Bone’s handbags and small leather goods category.

“We’re incredibly proud to introduce the first-ever Rag & Bone watch collection to consumers around the world,” added Brett Gibson, Sequel president & chief commercial officer.

“This launch marks an exciting new chapter in our longstanding partnership with Guess now strengthened even further through our collaboration with WHP Global. The debut collection builds on the authenticity, quality, and craftsmanship that define Rag & Bone fusing its iconic aesthetic with our decades of watchmaking expertise.”

Author Credits- Jennifer Braun, FASHION NETWORK

Strategic partnerships with prestigious Italian brands Eleventy, Corneliani, and Poltrona Frau mark significant expansion of its luxury retail portfolio

Dubai, UAE: Majid Al Futtaim, a leading shopping malls, communities, retail, and leisure pioneer across the Middle East, Africa, and Central Asia, has announced an ambitious expansion of its luxury retail portfolio for 2025. Following a record-breaking 2024, which saw a 26% growth in its Lifestyle business, the expansion will be anchored by renowned Italian brands Eleventy, Corneliani, and Poltrona Frau, with a series of store openings planned across key locations in the UAE and Saudi Arabia.

As part of its strategic growth agenda, Majid Al Futtaim will launch over 30 new stores, spanning both luxury and High Street brands across the region. The expansion will include five standalone Eleventy stores, the regional debut of Corneliani, and the first Poltrona Frau store outside the UAE in Saudi Arabia, showcasing Majid Al Futtaim’s commitment to strengthening its regional presence in the luxury retail segment.

Fahed Ghanim, CEO of Majid Al Futtaim Lifestyle, said: “In a region where customers have an abundance of choice, our ambition is to curate a portfolio of luxury brands that offer something truly distinctive. By introducing brands like Eleventy, Corneliani, and Poltrona Frau, we are bringing new dimensions to the luxury market—combining timeless craftsmanship with modern sensibilities that resonate with the refined tastes of our customers.”

“At Majid Al Futtaim, our work with luxury brands has been deeply rooted in THAT Concept Store, which has been instrumental in identifying and nurturing brands with the potential to thrive in this market. Eleventy’s journey, from its initial shop-in-shop to standalone stores, is a testament to how we test, scale, and grow global luxury brands. This strategic approach allows us to continuously evolve the luxury retail experience, delivering fresh, distinctive offerings that resonate with our customers.”

The five standalone Eleventy stores are set to open in key locations in 2025, including, Solitaire Mall in Saudi Arabia, Mall of the Emirates, Marsa Al Arab, which all opened this month, with Dubai Mall and The Grove in the UAE to follow later in the year. Known for its commitment to sustainable practices and premium materials, Eleventy reflects the growing consumer demand for quality and subtle sophistication, all under the ‘Made in Italy’ banner.  This growth builds on Eleventy’s successful presence in the region, which includes a shop-in-shop at THAT Concept Store, a pop-up at Mall of the Emirates, and its first standalone location in Marina Mall Abu Dhabi opened with Majid Al Futtaim in November 2024.

Majid Al Futtaim is further strengthening its partnership with Poltrona Frau, the iconic Italian luxury furniture brand, by introducing its first store in the region outside the UAE at Centria Mall, Riyadh, in May. Poltrona Frau, a key brand within Majid Al Futtaim’s portfolio,  achieved remarkable success in 2024, with its revenue increasing fivefold following the launch of its second UAE store at Mall of the Emirates

Italian luxury menswear brand Corneliani also made its regional store debut in April at Solitaire Mall, Saudi Arabia. Founded in 1930, Corneliani is one of Italy’s oldest independent luxury brands, renowned for its meticulous craftsmanship and presence in over 70 countries. With the launch of its first standalone store in the Middle East, Majid Al Futtaim brings Corneliani’s timeless suits and sophisticated casualwear to even more customers across the region.

Marco Baldassari, Co-Founder and Menswear Creative Director at Eleventy said: “Eleventy’s philosophy of understated elegance and commitment to sustainability resonates strongly with the sophisticated Middle Eastern consumer. We are excited to strengthen our partnership with Majid Al Futtaim, whose visionary approach to luxury retail is shaping a new vision with a growing focus on customer needs. Together, we aim to redefine luxury retail by offering timeless craftsmanship, sustainable practices, and innovative experiences.”

Nicola Coropulis, CEO of Poltrona Frau said: “Since partnering with Majid Al Futtaim more than two years ago, we have focused on strategic growth and elevating the customer experience across the region. The revitalisation of our flagship store in Jumeirah and our successful debut at Mall of the Emirates have been key milestones in our journey. We are now excited to bring this momentum to the Kingdom of Saudi Arabia with our first store in Riyadh, further solidifying our presence in the GCC and expanding our reach in this dynamic market.”

Majid Al Futtaim’s expansion in luxury retail builds on a record-breaking 2024, which saw a 26% increase in revenue across its portfolio and a 31% surge in digital sales. The year also marked the opening of 17 new stores across the region, bringing the total to 87 stores, including flagship locations for brands such as lululemon, Psycho Bunny, Shiseido, Crate & Barrel, and CB2, alongside 27 e-commerce platforms. Looking ahead, 2025 is set to be another milestone year for its Lifestyle business, with plans to open 30 new stores across the region, including seven in Saudi Arabia—a key priority market for the Group.

About Majid Al Futtaim

Founded in 1992, Majid Al Futtaim is an Emirati-owned, diversified lifestyle conglomerate operating across the Middle East, Africa and Asia. The Group started from one man’s vision to transform the face of shopping, entertainment, and leisure to ‘create great moments for everyone, every day’. It has since grown into one of the region’s most respected businesses, employing more than 43,000 people, with owned assets valued at US$19 billion and has the highest credit rating (BBB) among privately held corporates in the region. Majid Al Futtaim owns and operates 29 shopping malls, seven hotels and five mixed-use communities, welcoming more than 600 million customers through its doors every year.

It is the proud owner of the flagship Mall of the Emirates, Mall of Egypt, and Mall of Oman with the iconic City Centre shopping malls rounding out its portfolio across the region. As the developer of choice for the region, Majid Al Futtaim is the creator of mixed-use communities including Ghaf Woods and Tilal Al Ghaf in Dubai and Al Mouj in Muscat.

Majid Al Futtaim holds the exclusive rights to operate Carrefour across 12 markets in the Middle East, Africa, and Asia, with a network of over 390 stores. In Egypt, it also owns and operates Supeco, a low-cost hybrid grocery retail concept while HyperMax is its newest grocery retail brand recently launched in Jordan and Oman.

The Group operates more than 600 VOX Cinemas screens as well as a portfolio of world-class leisure and entertainment experiences across the region. These include two ski locations in Dubai and Cairo, two snow parks in Abu Dhabi and Oman, as well as family entertainment centres such as Magic Planet, Little Explorers, Activate, Yalla! Bowling, Dreamscape and IFLY.

Majid Al Futtaim partners with world-class fashion, home, specialty retail and beauty brands, operating over 90 stores across the GCC and 27 e-commerce platforms. Its portfolio includes lululemon, LEGO, Crate and Barrel, Shiseido and THAT, a Majid Al Futtaim multi-brand concept store and app. These offerings are powered by the UAE’s fastest growing loyalty programme SHARE, which offers customers a more personalised and data driven experience.

About Eleventy

Eleventy is a Smart Luxury brand established in recent years among the leaders of the Made in Italy luxury clothing sector. Founded in 2007 in Milan by Marco Baldassari, Paolo Zuntini and Andrea Scuderi – current shareholders and managers of the brand, the Eleventy Group is today participated by institutional investors through the investment vehicle Fashion Cube, which holds 65% of the capital. In 2016, the brand entered the American market by founding Eleventy USA based in New York and subsequently expanded its presence in the world’s main luxury markets. Today, the Eleventy retail network counts around 75 shops in Europe, the United States and the Middle East. The Group’s turnover in 2024 amounts to approximately EUR 101 million.

News Credits- ZAWYA BY LSEG

Capri Holdings may have to let go of its image as a luxury fashion house and bank on mid-tier pricing as well as a partnership with Amazon.com for its Michael Kors brand following its $1.4 billion sale of Versace to Prada.

After Italy’s Prada struck a deal to buy smaller rival Versace on Thursday, Capri CEO John Idol said that the company could make “accelerated strategic investments” in Michael Kors, the clothing and accessories brand it still holds in addition to footwear brand Jimmy Choo.

Capri had been exploring alternatives for both Versace and Jimmy Choo after the $8.5 billion sale of Capri to peer and Coach-owner Tapestry fell apart in November. Sources viewed a deal for Jimmy Choo as more tricky given consumers have been favouring sneakers and more casual shoes over high heels.

Meanwhile, in a rare move for a luxury brand and a signal that Capri is putting less emphasis on an upscale image for Michael Kors, Capri in March launched its first official Amazon storefront for the brand, allowing shoppers to buy handbags, clothing and accessories.

“Michael Kors’ availability on Amazon marks a significant shift – and not necessarily in the direction of luxury,” said Angeli Gianchandani, adjunct instructor at New York University’s School of Professional Studies. “While it may help drive volume and reach a broader audience, it also risks further diluting the brand’s prestige.”

Michael Kors handbags at its retail outlet and website are priced from under $50 to more than $3,000 while on Amazon its purses and bags are sold for anywhere between $59 and $400.

“(Amazon’s) a great outlet for these companies to get rid of excess inventory, especially from the higher end markdowns,” said Jamie Meyers, Securities Analyst at Laffer Tengler Investments. “So, it’s certainly a move that makes perfect sense.”

Capri has also said it is reviewing pricing across categories to try to boost full-price sales.
The attempt to revive growth could, however, take a hit from U.S. President Donald Trump’s tariffs as nearly all Michael Kors products are made in Asia, according to Capri’s annual report last May, although it did not specify individual countries.

Jimmy Choo products are produced by specialists in Italy, supported by factories across Europe, with a small portion produced in Asia, according to the report.

During a post-earnings call in February, Idol said that Capri had attempted to elevate Michael Kors’ price points too quickly and going forward it would refocus on the heritage of the brand and align pricing architecture with historical levels.

Michael Kors bought Versace for $2.2 billion in 2018 and named the group Capri, in a bid to take on larger European rivals such as Louis Vuitton-owner LVMH and Kering and widen its customer base. It acquired Jimmy Choo, whose shoes retail for as much as $5,000, the previous year.

Capri has posted nearly ten quarters of revenue declines and lost out to local competition from Coach as it struggled to convince shoppers higher prices were worth paying.

“The bottom line is Prada is a luxury company and Capri is not, in a sense, because Michael Kors is not really a luxury brand,” Morningstar analyst David Swartz said. “It was not a great fit because Michael Kors is a primarily American mid-tier handbag maker.”

News Credits- FASHION NETWORK

Prada S.p.A. on Thursday announced that it has entered into a definitive agreement to acquire 100% of Versace from Capri Holdings, completing a negotiation that had lasted just a few months.

The cash consideration, based on an Enterprise Value of €1.25 billion, is subject to adjustments at closing. However, the sticker price is also significantly less than the €1.83 billion Capri paid to buy Versace back in 2018.

Founded in 1978 in Milan, Versace is one of the leading international fashion design houses and epitome of Italian luxury worldwide. Building on a remarkable brand awareness, Versace stands as a distinctive asset in the luxury landscape. Deeply rooted in the history of fashion, the brand displays strong potential to read contemporaneity and marked sensibility in capturing and anticipating the spirit of today’s and future society, Prada stressed in a release.

“We are delighted to welcome Versace to the Prada Group and to build a new chapter for a brand with which we share a strong commitment to creativity, craftmanship and heritage. We aim to continue Versace’s legacy celebrating and re-interpreting its bold and timeless aesthetic; at the same time, we will provide it with a strong platform, reinforced by years of ongoing investments and rooted in longstanding relationships. Our organization is ready and well positioned to write a new page in Versace’s history, drawing on the Group’s values while continuing to execute with confidence and rigorous focus,” said Patrizio Bertelli, Prada Group Chairman and Executive Director.

The deal comes three weeks after Capri announced that Donatella Versace, sister of founder Gianni Versace, had stepped down as the house’s creative director to become its ambassador. She was replaced by Dario Vitale, formerly the design director of Miu Miu, the fastest growing label in the Prada group.

With its highly recognizable aesthetic, the brand constitutes a strongly complementary addition to the Prada Group’s portfolio and displays significant untapped growth potential leveraging multiple value creation levers, Prada noted.

Within the Prada Group, Versace will maintain its creative DNA and cultural authenticity, while benefitting from the full strength of the Group’s consolidated platform, including industrial capabilities, retail execution and operational expertise.

“The acquisition of Versace marks another step in the evolutionary journey of our Group, adding a new dimension, different and complementary. The Group’s infrastructure is strong, we have verticalized our brands’ organizations and reinforced our routines and processes. We feel ready to open this new chapter. Versace has huge potential. The journey will be long and will require disciplined execution and patience. The evolution of a brand always needs time and constant focus. I would like to thank Capri Holdings for having preserved and enhanced the heritage of this wonderful brand. Notwithstanding the sector uncertainties, we look at the future with confidence, focused on a long-term strategic vision,” added Andrea Guerra, Group Chief Executive Officer.

Author Credits- Godfrey Deeny, FASHION NETWORK

Zouk, a handcrafted direct-to-consumer lifestyle brand has partnered with Unicommerce and Shipway to strengthen its e-commerce operations across categories like bags, luggage, and accessories.

With these partnerships, Zouk aims to improve its online inventory management, logistics efficiency, and delivery capabilities across India.

Unicommerce warehouse inventory management solution will help Zouk streamline order processing, optimise inventory allocation and tracking while Shipway will help in automated courier selection.

Commenting on the partnership, Kapil Makhija, managing director CEO of Unicommerce in a statement said, “Unicommerce is a one-stop shop for all e-commerce enablement technology needs. We are delighted to partner with Zouk to power their e-commerce operations and help them leverage technology to scale and optimize their online presence.”

Pradeep Krishnakumar, co-founder of Zouk added, “At Zouk, delivering a seamless and consistent consumer experience is at the heart of everything we do. Partnering with Unicommerce and Shipway has enabled us to strengthen our operations so that every order, whether from a metro or a remote town, is fulfilled smoothly and efficiently.”

Founded in 2016, Zouk operates through its website, app, and leading marketplaces like Amazon, Flipkart, Myntra, Tata Cliq, and Nykaa, as well as quick-commerce platforms.

Author Credits- Maverick Martins, FASHION NETWORK

The global Dark Store Market is undergoing a transformative phase as e-commerce and logistics industries adapt to meet the rising demand for fast and efficient last-mile delivery solutions. With the market size valued at USD 16.54 billion in 2023, this innovative retail model is set to experience exceptional growth, expected to reach a staggering USD 414.31 billion by 2033, expanding at an impressive 38% compound annual growth rate (CAGR) over the next decade.

What is the Dark Store Concept?

A Dark Store refers to a retail space designed specifically for fulfilling online orders, rather than serving walk-in customers. These stores operate like distribution hubs where products are stored, picked, packed, and shipped to customers’ doorsteps. Unlike traditional brick-and-mortar stores, dark stores have no storefront and do not cater to in-person shoppers. This model significantly streamlines the supply chain by removing the need for a physical shopping experience, allowing retailers to prioritize faster delivery times and cost-effective operations.

Drivers Behind the Market Growth

Several factors are contributing to the rapid growth of the dark store market:

• E-commerce Boom: The accelerated shift toward online shopping has fueled the demand for efficient fulfillment centers. As consumers expect faster delivery times and greater product variety, dark stores have emerged as a cost-effective solution for retailers to handle high volumes of orders swiftly.
• Consumer Expectations for Speed: The modern consumer demands faster service, and dark stores meet this need by being strategically located to facilitate swift dispatch and deliveries. With the rise of rapid delivery services like instant grocery delivery, dark stores are pivotal in enabling these services, allowing for fulfillment times of hours rather than days.
• Reduced Operational Costs: Traditional brick-and-mortar stores come with significant overhead costs, including staffing, real estate, and utilities. Dark stores, by contrast, are optimized for online order fulfillment, significantly reducing operational expenses for retailers.
• Technological Advancements: The integration of technologies like AI-driven inventory management, automated picking systems, and robotics has enhanced the efficiency of dark stores. These technological solutions ensure quick and accurate order fulfillment, providing a competitive edge for businesses operating in this market.

Regional Insights: Dark Store Market Growth

• North America: North America leads the dark store market, driven by e-commerce giants like Amazon and Walmart. High urban populations and advanced logistics make it a key growth region, though operational costs are a challenge. The market is set to grow rapidly.
• Europe: Europe is seeing strong growth, particularly in the UK, Germany, and France. Urbanization and sustainability concerns boost dark store demand, but regulatory challenges may slow expansion. Overall, the region is poised for significant growth.
• Asia-Pacific: Asia-Pacific, especially China, India, and Japan, is growing rapidly due to e-commerce expansion and tech-savvy consumers. While logistics infrastructure is developing, the region offers immense potential for dark store adoption.
• Latin America: In Latin America, Brazil and Mexico are emerging as key markets. E-commerce growth and improved logistics infrastructure promise rapid dark store expansion, despite some economic challenges.
• Middle East & Africa: The Middle East and Africa are early adopters, with the UAE, Saudi Arabia, and South Africa leading. Urbanization and e-commerce growth are creating opportunities, but underdeveloped logistics networks pose challenges.

Key Players

• Amazon.com, Inc.
• Swiggy
• Uber
• Ola Foods
• Supermarket Grocery Supplies Pvt Ltd.
• Walmart, Inc.
• Target Brands, Inc
• Dunzo Daily
• Instacart
• Auchan
• Wolt
• Flipkart
• Grab

Recent Market Developments

• June 2022: Naturepro has introduced same-day delivery across India along with the opening of ZFW dark stores. Both brands have partnered to promote sustainable and affordable products.
• September 2022: Intacart has acquired Rosie to implement and use its technology in locally operated grocery spaces, expanding the customer base and distribution channels.
• Amazon India has signed MOUs with the Council of Handicraft Development Corporation (COHANDS) to promote the products under the Karigar program, which is an initiative that supports local craftsmen.

Dark Store Market by Category

By Age Group, Dark Store Market is Segmented as:

• Children
• Adults
• Elderly

By Category, Dark Store Market is Segmented as:

• Groceries
• Meat
• Dairy

By Delivery Options, Dark Store Market is Segmented as:

• Curbside Pickup
• In-Store Pickup
• Home Delivery

By Non-Food Products, Dark Store Market is Segmented as:

• Cleaning
• Essentials
• Bath & Body

By Region, the Dark store Market is Segmented as:

• North America
• Europe
• East Asia
• South Asia & Pacific
• Middle East and Africa(MEA)

About Future Market Insights (FMI)

Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.

Author Credits- Newstrail.com

Indian express parcel delivery company Delhivery has taken a controlling stake in its rival Ecom Express Limited for Rs~1,400 Cr. (US$162m) in a bid to expand its customer base and boost its e-commerce delivery market share.

Commenting on the deal, which was announced on April 5 and is subject to approval from the Competition Commission of India, Sahil Barua, MD and CEO of Delhivery said, “The Indian economy requires continuous improvements in cost efficiency, speed and reach of logistics. We believe this acquisition will enable us to service customers of both companies better, through continued bold investments in infrastructure, technology, network and people.

“The founders and management of Ecom Express have established a high-quality network and team, creating a strong foundation to integrate into Delhivery’s operations.”

K Satyanarayana, founder of Ecom Express, added, “Delhivery is among India’s leading fully-integrated logistics service providers with significant scale advantages and will be the ideal shareholder for Ecom Express’s next phase of growth.

“With this acquisition and its inherent synergies, businesses across India as well as the logistics industry itself will benefit immensely through the combination of two like-minded players.”

Author Credits – Hazel King, Parcel and postal technology INTERNATIONAL

The Securities and Exchange Board of India has given Bluestone Jewellery and Lifestyle the go-ahead to raise funds through an initial public offering. Having received Sebi’s final observation, Bluestone can take the next steps towards launching its IPO.

Bluestone’s planned IPO will comprise a mix of a fresh issue of shares up to Rs 1,000 crore and an offer for sale of up to approximately 2.4 crore equity shares, ET Tech reported. The business had filed its IPO papers with Sebi on December 11 last year.

For the offer for sale portion of the IPO, company shareholder Kalaari Capital Partners II LLC will sell off up to 70.7 lakh shares, the Economic Times reported. On top of that, shareholder Saama Capital II Limited will sell off up to 41 lakh shares and Sunil Kant Munjal and other Hero Enterprise Partner Ventures partners will sell off up to 40 lakh shares.

The business plans to use up to Rs 750 crore of the proceeds from its fresh share issue towards general corporate purposes and meeting its working capital requirements. As the offer is being carried out through a book-building process, no less than 75% of the net offer will be allocated to qualified institutional buyers, no more than 15% is allocated to non-institutional buyers, and no more than 10% is allocated to retail individual investors.

Bluestone Jewellery and Lifestyle established its Bluestone jewellery brand in 2011, specialising in gold, diamond, and platinum jewellery with numerous customisation options available, according to its website. The business retails from its direct to customer e-commerce store, mobile app, and network of exclusive brand outlets across India.

Author Credits- Isabelle Crossley, FASHION NETWORK

Swiggy Instamart, a quick commerce platform has launched an in-app feature called ‘Maxxsaver’ to boost sales by offering savings to customers on large orders.

With this feature, Instamart allows customers to save up to Rs 500 after reaching a certain order value. The feature will be applicable across all categories that include daily essentials, electronics, smartphones, fashion, beauty, among others.

Commenting on the launch, Amitesh Jha, CEO of Swiggy Instamart in a statement said, “As more users turn to Swiggy Instamart for daily essentials, electronics, fashion, and more, we remain committed to delivering exceptional value. With Maxxsaver, we enhance our promise to make Swiggy Instamart the most affordable and convenient quick commerce destination.”

“By passing on the benefits of larger orders, we’re able to offer better pricing to our users. Whether it’s a top-up or a weekly haul, users can effortlessly unlock maximum savings on every order,” he added.

Swiggy Instamart offers 10-minute deliveries in 100 Indian cities after recently adding 32 cities to its network.

Author Credits- Maverick Martins, FASHION NETWORK