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luxury

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Source: Jacopo Raule / Getty
It seems LVMH is looking to increase their portfolio within the luxury apparel sector. The conglomerate has made an investment into Moncler. 

As spotted on Hype Beast the French holdings company announced on Thursday, September 26 that they acquired a 10% stake in Remo Ruffini (the investment vehicle controlled by Ruffini Partecipazioni Holding) which owns a direct stake in Moncler. The move will not only increase Double R’s ownership from 15.8% to 18.5%, but also affords LVMH the right to appoint two board seats at Double R. According to Yahoo! News long tenured LVMH executive Antonio “Toni” Belloni will get one of the seats while the other has yet to be announced. Remo Ruffini will remain as Moncler’s CEO and Chairman.

He expressed his enthusiasm in a formal statement. “This partnership reinforces Double R’s position in Moncler and provides the stability needed to execute my vision for the future” he said. “I have long admired Bernard Arnault’s entrepreneurial spirit and unique understanding of the luxury sector, and I am delighted he so clearly supports my long-term ambitions for our Group’s extraordinary brands.”
Bernard Arnault, Chairman and CEO of LVMH, also commented on the agreement. “Moncler has been one of the most significant entrepreneurial success stories in the industry over the past twenty years. Remo Ruffini’s vision and leadership are remarkable and I am delighted to invest in his holding company to reinforce his position as leading shareholder on Moncler and support the independence of the Moncler Group.”

Moncler is an Italian luxury ready to wear apparel company based in Milan. They are most known for their down jackets

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Source: handout / Department of Justice
Federal authorities have made a significant dent within the counterfeit industry. Over $1 billion dollars worth of fake goods were seized in New York City.

Raw Story is reporting that a national task force has made into the record books when it comes to the black market. On Wednesday, November 15 prosecutors announced their biggest bust in history stating that their work has resulted in the “largest ever seizure of counterfeit goods in US history”. Over 200,000 items were hauled during the bust which roughly translates to over a billion dollars in retail value. The items ranged from knockoff purses, shoes, hats, belts, smell goods and other accessories.

U.S. Attorney Damian Williams said: “As alleged, the defendants used a Manhattan storage facility as a distribution center for massive amounts of knock-off designer goods. The seizures announced today consist of merchandise with over a billion dollars in estimated retail value, the largest-ever seizure of counterfeit goods in U.S. history. This is a testament to the commitment of this Office and its law enforcement partners to combat counterfeit trafficking in New York City.”
New York Police Department Commissioner made it clear that the counterfeit industry is a plague to the safety of citizens and those work in this underworld alike. “The trafficking of counterfeit goods is anything but a victimless crime because it harms legitimate businesses, governments, and consumers” he said in a statement according to the Department Of Justice. “Today’s indictments show how seriously the NYPD and our federal partners take this offense.  And we will continue to work hard to hold accountable anyone who seeks to benefit by selling such items on the black market.”
Adama Sow and Abdulai Jalloh a/k/a “Troy Banks” are alleged to be running this operation. Both have been arrested and charged for trafficking the fake items which carries a maximum sentence of ten years in prison.

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Source: BAPE / BAPE
eBay is broadening their scope of services in the apparel category. The platform has launched an authentication offering for streetwear items.

As spotted on Hypebeast, the global commerce leader will now be reviewing and inspecting new and pre-owned apparel priced over $200 dollars from brands such as Aimé Leon Dore, Fear of God, KITH, Supreme, Off-White, Palace and Stone Island. By the end of the year adidas, Alexander Wang, Balenciaga, Burberry, Cactus Plant Flea Market, Chrome Hearts, Comme des Garçons, Dior, Eric Emanuel, Fendi, Givenchy, Gucci, Jordan, Louis Vuitton, Nike, OVO, Palm Angels, Prada, Rhude, Versace, and Visvim will also be added as brands that will be authenticated.

Each item will be vetted and verified by a professional team of authenticators by using “advanced technical equipment” at eBay’s new state-of-the-art facility in New Jersey. eBay currently offers authentication for sneakers, watches, jewelry, handbags, and trading cards. A representative from the company expressed their enthusiasm regarding the announcement in a formal press statement:
Per Hypebeast”
“eBay has pieces from nearly every notable streetwear drop that’s ever happened – whether in 1993 or 2023,” said Garry Thaniel, Global GM of Sneakers and Streetwear at eBay. “We’ve heard loud and clear from our enthusiast community that they want to be able to come to eBay to buy and sell apparel in the same seamless way that they can sneakers. With the launch of Authenticity Guarantee for streetwear, we’re delivering on that ask.”
Interested consumers can visit eBay.com/streetwear for more information on the process, pieces available for purchase and more.
https://www.instagram.com/p/CsmJCR2s3Lk/

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