LONDON, United Kingdom — The Savigny Luxury Index (“SLI”) lost 1.5 percent in April, underperforming the MSCI World Index (“MSCI”) by almost two percentage points. Luxury spending in Europe has been hit by a drop in tourist demand, as well as price increases by brands seeking wider margins. The unusually cold weather, particularly in March, also contributed to weak demand for Spring/Summer ready-to-wear collections.
NEW YORK, United States — Coach Inc. reported fiscal third-quarter results Tuesday that beat Wall Street expectations as the luxury handbag maker saw sales increase in its flagship North American market, as well as overseas. The New York company also said it's raising its dividend by 15 cents annually to $1.35 per share.
NEW YORK, United States — After more than 16 years as president and executive creative director of US accessories brand Coach, Reed Krakoff has announced that he will not renew his contract with the label, which is set to expire in June of 2014. The company has started the hunt for his successor. Krakoff is said to be leaving to focus on his own high-end label of sportswear-inspired apparel and accessories, Reed Krakoff, which he
NEW YORK, United States — Coach’s valuation and cash generation -- enough to give it the third-highest free cash flow yield among peers -- could attract private-equity firms, Atlantic Equities LLP said. LVMH Moet Hennessy Louis Vuitton SA and PPR SA may be among suitors drawn to its margins and the chance to expand Coach beyond the U.S. and Japan
LONDON, United Kingdom — The Savigny Luxury Index (“SLI”) gained 2.7 percent in February, underperforming the MSCI World Index (“MSCI”) by over one percentage point. The SLI lost ground at the beginning of the month following the questions raised on sector growth by LVMH’s annual results announcement. Big news • Most analysts felt that LVMH’s organic growth numbers for 2012 were a bit lower than expected. This, combined with Mr.