PARIS, France — LVMH said watches and jewelry head Francesco Trapani would step down on March 1, becoming an advisor to group Chairman Bernard Arnault and keeping his seat on the board of directors of the world's biggest luxury group.
HONG KONG, China — Wealthy Chinese are likely to buy fewer luxury goods again this year after the steepest cut-back on spending in at least five years, changing the game for high-end retailers like Louis Vuitton which have staked their growth on China.
MILAN, Italy — Loro Piana, an Italian luxury textiles maker and fashion house, is so particular about its materials that it bought its own natural reserve in the mountains of Peru to protect the vicuna, an endangered species that yields a precious wool.
ZURICH, Switzerland — Growth of Swiss watch exports could accelerate to 5-10 percent next year, Jean-Christophe Babin, new chief executive of Italian jewelry and watch brand Bulgari, was quoted as saying on Saturday.
Market sentiment has turned back in favour of the luxury sector, driven by solid second quarter results, reports Pierre Mallevays of Savigny Partners.
PARIS, France — LVMH Moet Hennessy Louis Vuitton SA, the world’s largest luxury-goods maker, says its sales of jewelry and watches have dropped in mainland China and are being offset by Chinese nationals buying overseas.
In recent years, the number of fashion companies that have gone public or been acquired by large luxury groups has accelerated dramatically. What’s driving the deal flow?
With the support of L Real Estate, developer Craig Robins’ vision for Miami’s off-kilter luxury enclave is coming to life.
MILAN, Italy — Italian police seized more than 46 million euros ($59 million) of assets from executives linked to jeweler Bulgari including Francesco Trapani, who heads parent company LVMH Moet Hennessy Louis Vuitton SA’s watch and jewelry unit, for alleged tax evasion.
What to Make of PPR’s Christopher Kane Investment (Analysis) “But fast forward a few more years and today, both Stella McCartney and Alexander McQueen have grown into medium-sized businesses with over €100 million in annual revenue each by pursuing business models that fit, respectively, with their unique brand DNAs.” Finding Your M.O. | Part 14: Going Corporate (Education) “As in life, the time comes when every
[caption id="attachment_40456" align="alignnone" width="500" caption="Nicola and Paolo Bulgari | Source: Forbes/Getty Images"][/caption] Bulgari Brothers, Jewelers To The Stars, Are Billionaires Thanks To Tiny LVMH Stake (Forbes) "In 2011, however, French luxury empire Moët Hennessy Louis Vuitton (LVMH) acquired Bulgari in an all-share deal, handing over 3.6% of the conglomerate to the family. Last year, as LVMH’s stock rose, the Bulgaris and nephew Trapani sold a tiny sliver of their stake, reportedly to take care of taxes and other expenses." Amid U.K. Retailer Woes, a Web Fashion Foray (BusinessWeek) "As more British retailers succumb to competition from the Internet, a venture capital firm is underscoring the shift with its first investment in a fashion seller to develop its online business." On Top of the…
Swedish fashion: How less can be more (CNN) “Stockholm fashion may not have the clout of Parisian haute couture or the glamor of Milan’s upscale brands. But the city is turning its flair for sleek design into a major business export.” Bulgari family sells LVMH shares (FT) “People close to the deal said the Bulgari family had decided to reduce their stake after a strong rise in the shares in the past year and