These are the stories making headlines in fashion on Wednesday.
Chanel Sales Reportedly Spike by 16% in First Half
Chanel‘s sales reportedly rose by about 16% in the first half, Bloomberg reported on Tuesday. This revenue boost is likely due to wealthy shoppers buying designer Matthieu Blazy‘s new collections, which went on sale in March. Sales at Chanel’s fashion division (its largest unit) grew by a similar double-digit percentage, according to Bloomberg’s source. {Bloomberg}
Capri Holdings Posts 3.5% Revenue Drop in Q1 2027
Capri Holdings — the parent company of Michael Kors and Jimmy Choo — posted a 3.5% decrease in revenue to $769 million in Q1 2027. Michael Kors saw its revenue decline by 7.1% to $590 million, while Jimmy Choo’s revenue rose 10.5% to $179 million. The company now expects total revenue of approximately $3.4 billion for the fiscal year 2027, down from its previous outlook of $3.525 billion. {Capri Holdings}
Procter & Gamble to Acquire Wellness Company Thorne
Procter & Gamble (P&G) has acquired Thorne, a wellness company known for its supplements. P&G’s acquisition of Thorne, which was founded in 1984, will help grow the company’s personal health care business. While terms of the deal were not disclosed in the official release, P&G CEO Shailesh Jejurikar told CNBC that the deal is valued at $3.8 billion. The transaction is expected to close later this year. {Procter & Gamble; WWD/paywalled}
Retailers Are Selling Economic Rights to Their Potential Tariff Refunds
In search of immediate cash, some retailers are selling off the economic rights to their potential IEEPA tariff refunds in an approach called “tariff refund monetization.” For example, a third party bought $68.9 million of American Eagle Outfitters’ refund claims for $18.6 million in cash, according to the company’s quarterly report from June 3. Since American Eagle Outfitters began receiving refunds from the government on claims, $33.1 million was paid to the buyer. {Retail Dive}
Safilo Group’s First-Half Sales Decline by 1.9%
Safilo Group — the Italian eyewear company whose licensed brands include Boss, Carolina Herrera and Marc Jacobs — reported its first-half 2026 sales on Tuesday, which showed net sales dropped by 1.9% to €512 million ($591.58 million). In Q2 2026, its net sales declined by 4.5% to €239.1 million ($276.26 million). Safilo also acquired Spy+ and Serengeti in this period, amounting to a €21.5 million ($24.84 million) transaction. {Safilo Group}
