Tiffany & Co to downsize Shanghai flagship amidst declining luxury demand The LVMH-owned jeweller, which opened the two-storey, 12,000-square foot store in 2019, is understood to be reducing the size of the flagship store by around half. LVMH's watches and jewellery division saw revenues fall 3% in the first half of 2024. Read more.

Nordstrom family proposes $3.8bn deal to take company private The proposed transaction would be funded through a mix of equity and cash contributions from family members and Liverpool, along with $250m in new bank financing. After the transaction, the family would own 50.1% of the company and Liverpool the rest. Read more.

Haider Ackermann to become Tom Ford’s creative director Ackermann will be based in Paris, according to the brand's announcement. In his new role, he will oversee all of Tom Ford's fashion creations, including womenswear, menswear, accessories, and eyewear, as well as the overall brand vision. Read more.

Balenciaga’s flagship store makes its debut on JD.com It makes the Chinese retailer the exclusive online platform for the debut of its new Stapler Sneaker. Following other Kering brands like Gucci and Saint Laurent, the store will feature an extensive collection, including the Fall/Winter 2024 line-up. Read more.

Selfridges debuts Savage X Fenty shop-in-shop Selfridges is partnering with lingerie brand Savage X Fenty to launch the brand's first physical sales location in the UK, both online and in its Oxford Street store. The brand founded by Rihanna's first physical store opened in Las Vegas in 2022. Read more.

Sales at Harrods almost reach £900m, up 8% They rose to £898.4m in the 53 weeks to 3 February 2024, in the first set of annual results completely free of Covid-related travel restrictions. Operating profit rose to £162.9m over the period. Read more.