At an investor day in New York, the Italian luxury group laid out plans for newly acquired Tom Ford, as well as Thom Browne and its namesake Zegna label.

Sebastien Fabre will lead the Paris-based vintage start-up as it seeks to scale its platform and extend sourcing operations to the US.

The consumer goods giant said it would take a $1.3 billion non-cash impairment charge before tax in the current quarter ending Dec. 31 on its Gillette business.

Total sales grew 2.7 percent in November, compared with 4.2 percent growth a year earlier.

This week’s round-up of global markets fashion business news also features PDD’s ascent in China, Kenya’s controversial suit ban and subterfuge in India’s jewellery trade.

Brands looking to invest in new developments and rapidly changing shopping districts across China’s major cities are scrutinising locations harder than before the economic slowdown.