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.
Uncertain expectations over Christmas trading amidst mixed retail signals led many institutional investors to take their profit before closing their books at year-end. Meanwhile, the travel retail channel continues to surge and M&A activity remains buoyant, reports Pierre Mallevays of Savigny Partners.
PARIS, France — Luxury brands are stepping up the battle for travelling shoppers with more outlets at airports and on cruise ships, tapping into one of the fastest growing sections of the market that looks set to keep booming thanks to soaring numbers of Asian tourists.
PARIS, France — Hermès International SCA, the French maker of Kelly bags and silk scarves, raised its full-year sales target after strong growth in fashion, accessories and perfumes.
MILAN, Italy — Hermes accessories worth 400,000 euros ($550,900) were stolen in Milan, forcing the French luxury goods group to cancel a presentation on Wednesday even after the items were recovered by police, a company spokeswoman said.
In the next instalment of Market GPS, BoF examines Kazakhstan, the undisputed goliath of Central Asia.
LONDON, United Kingdom — Despite a string of positive results announcements, the Savigny Luxury Index (“SLI”) lost 0.9 percent in August, nevertheless outperforming the MSCI World Index (“MSCI”) by close to one percentage point, as markets shuddered at the prospect of foreign intervention in the Syrian conflict.
PARIS, France — Hermès International SCA, the French maker of Birkin bags, reported first-half earnings that beat estimates and reiterated its guidance for 2013.
ZURICH, Switerland — In the upscale boutiques of Singapore, New York or Zurich — where Oprah Winfrey claims a sales clerk refused to show her a $38,000 bag — purses priced in the four figures are common.
From shoes to handbags to ready-to-wear, the price of designer fashion has increased precipitously over the last decade. What’s driving the rising prices? And how high can they go?
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, said it increased its stake in Hermès International SCA to 23.1 percent from 22.6 percent in what it described as “an opportunistic move.”
PARIS, France — Luxury scarves, bags and watches maker Hermès raised its full-year targets after beating quarterly forecasts on Thursday, with demand strong in most sectors even in the face of a slowing Chinese economy.