Designer and fashion designer George Armani has died. He was 91 years old. Armani created the eponymous brand, which became world famous and made its founder a billionaire.

Billionaire and founder of Armani brand George Armani died

Guess?, Inc.

Famous U.S. clothing and accessories brand Guess?, Inc. will go private in a $1.4 billion deal with brand management company Authentic Brands Group. As part of the transaction, Guess shares will cease trading on the stock exchange.

Guess to go private in $1.4 billion deal with Authentic Brands

LVMH Moet Hennessy - Louis Vuitton, Societe Europeenne

Kering SA

Prada S.p.A.

The luxury industry is changing, with more and more people abandoning luxury purchases in favor of experiences, travel and wellness, i.e. experiential luxury, <a href="https://fortune.com/2025/05/07/wealthy-gen-z-millennials-high-net-worth-ditching-luxury-shopping-life-experiences-health-travel/">writes</a> Fortune. Alexander Pukhov found out how brands are adapting to the new reading of luxury - and how to capitalize on it.

Travel and wellness: how luxury is changing and who makes money from it

NIKE, Inc.

Snowpheres, a hybrid of sneakers and loafers, have become the hottest trend in the footwear world, <a href="https://www.bloomberg.com/news/features/2025-07-01/nike-new-balance-hoka-bet-on-snoafers-as-hot-footwear-trend">reports</a> Bloomberg. Despite the fact that the new type of footwear looks at least strange, New Balance, Hoka and Nike have noted a huge demand for such models. For the latter, the unexpected demand for a new version of ugly shoes is also an opportunity to fix its sales situation. How do companies try to make money on ugly shoes?

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Billionaire and founder of Armani brand George Armani died

Guess to go private in $1.4 billion deal with Authentic Brands

Travel and wellness: how luxury is changing and who makes money from it

The silent comfort revolution: why sports brands are bringing 'ugly shoes' to market