Richemont beats estimates, Brazil rising, Sportswear gold, My-wardobe in Asia, After J.Crew

Richemont CEO Johann Rupert | Source: Connecting Watches

Richemont Full-Year Profit Beats Estimates on Asian Sales (Bloomberg)
“Richemont, the second-biggest luxury goods company, reported full-year profit that beat analysts’ estimates as sales were boosted by buoyant demand for high-end goods in the Asia-Pacific region. Net income climbed 43 percent to 1.54 billion euros ($1.96 billion) in the 12 months through March 31, the Geneva-based company said today in a statement.”

Coach to Kate Spade to Tiffany Chase Sao Paulo Shoppers (Bloomberg)
“For years, Brazilians coveting a Coach bag or Tiffany diamonds boarded flights to places like New York and Miami. Now American luxury is coming to them… Last year luxury sales in Brazil accelerated 20 percent to 2.3 billion euros ($2.9 billion), according to Bain & Co., the Boston-based consulting firm.”

Going for sportswear gold (FT)
“Mr Clarke can reel off a long list of NBA and American football teams that have bought 2XU branded garments for players to wear under their uniforms… Such deals along with alliances with sporting bodies such as Swimming Australia and the PGA of Australia have helped 2XU increase sales at an annual compound rate of 40 per cent over the past four years and carve a profitable niche in sportswear.”

Online retailer My-wardrobe to open Asian doors (Reuters)
“The company, already big in the United Kingdom, is expanding to the Asia-Pacific region, and tech-savvy Singapore is the first stop of its Asian rollout. It’s also where Curran intends to learn the tastes and cultures of Asian consumers before expanding further into the region.”

Todd Snyder: Making Up for Lost Time Post-J.Crew (WSJ)
“Last February, Mr. Snyder, who in 2008 left J.Crew, where he was in charge of what became its very influential menswear, returned to the scene with his own menswear line. Earlier this year, he was named one of the finalists for GQ magazine’s Best New Menswear Designers in America program.”