Next Sales Rise as Inflation Pressures Ease, Maintains Forecast
The British fashion and homewares company said Wednesday that full price sales climbed 5.7 percent in the first quarter, which was slightly ahead of an expected 5 percent rise.
Bloomberg
LVMH Considering Options for Marc Jacobs, Amid Buyer Interest, Say Sources
The fashion giant has been working with advisers to study possibilities for the Marc Jacobs brand after being approached by suitors.
Op-Ed: Should a Luxury Group Buy De Beers?
Mining company Anglo American is considering offloading its storied diamond unit. It won’t be an easy sell.
Chanel CEO Says Price Hikes Driven by Inflation, Craftsmanship
The luxury goods maker is seeking pricing harmonisation across the globe, and adjusts prices in different markets to ensure that the company is”fair to all [its] clients everywhere,” CEO Leena Nair said.
The Hazards on Puig’s Path to Becoming a True Luxury Conglomerate
Excitement for its IPO is building, but in order to realise its ambitions, more acquisitions and operational expenses might be required.
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The News in Brief
Rabanne Owner Puig, Shareholders Raise €2.6 Billion in IPO
The listing drew orders for multiple times the number of shares available and is contributing to a broad resurgence of European initial public offerings.
TikTok Shop Tops 500,000 US Sellers After 2023 E-Commerce Launch
E-commerce is seen by the company as its next big potential revenue source as well as a way to keep users spending time and money on its app.
Tapestry-Capri Deal to Face September Hearing
The preliminary injunction hearing on the US Federal Trade Commission’s bid to block Tapestry’s attempted takeover of rival Capri will likely last a week and a half, the judge said.
Spain’s Puig Sets IPO Price Guidance at Top of Range
The Barcelona-based firm set the price guidance at €24.50 per share, according to terms seen by Bloomberg News, giving the company an implied market value of €13.9 billion ($14.9 billion).
LVMH-Backed L Catterton Agrees to Buy Majority Stake in Kiko
The private equity fund has entered into a definitive deal with the Percassi family, which will retain a “significant stake” in the business.
EU Hits Fast-Fashion Giant Shein With New Digital Rules
The move means Shein could be liable for fines of as much as 6 percent of global revenue for violating the law, designed to curtail the spread of illegal content online.
Shares of Versace Owner Capri Seen Falling 30% If Deal With Coach Owner Tapestry Fails
Since the merger announcement, Capri has reported weaker-than-forecast earnings twice, spurring concern about its performance in the coming quarters.