PARIS, France — French market regulator AMF said on Friday it was requesting to fine luxury group LVMH 10 million euros, the maximum sanction that can be proposed, in a probe into the build-up of LVMH's initial 17 percent stake in rival Hermès.
PARIS, France — Luxury goods group LVMH on Friday asked for the dismissal of a French market watchdog inquiry into the build-up of its first 17 percent stake in rival Hermès.
PARIS, France — LVMH Moet Hennessy Louis Vuitton SA will today respond to allegations by French market regulators that it breached disclosure rules in building a stake in rival Hermès International SCA.
BEIJING, China — China agreed to cut import tariffs on Swiss watches by 60 percent in 10 years as the two nations seek to expand trade, a move that may boost sales by retailers such as Hong Kong-based Hengdeli Holdings Ltd.
LONDON, United Kingdom — Louis Vuitton is losing ground as the world’s most valuable luxury brand as competitors including Gucci and Prada gain, a new research report shows.
BoF distills recent fashion stories from the French media.
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.
Back from a whirlwind trip to Mumbai, India, BoF’s editor-in-chief, Imran Amed reflects on the development of the local economy and the luxury goods and fashion market.
PARIS, France — Hermes International SCA, the French maker of Kelly handbags and silk scarves, reported a 10 percent rise in first-quarter sales as demand increased in all regions, led by Asia.
LONDON, United Kingdom — The Savigny Luxury Index (“SLI”) gained 1.6 percent in March, outperforming the MSCI World Index (“MSCI”) by just half a percentage point. The SLI has been quite volatile over the month with the eurozone crisis and the US debt ceiling taking centre stage again.
PARIS, France — Hermes International SCA, the French maker of Kelly bags and silk scarves, reported 2012 earnings that exceeded analysts’ estimates as Asian demand soared and proposed a dividend of 2.50 euros a share.
LONDON, United Kingdom — The Savigny Luxury Index (SLI) gained 2.8 percent in January, outperforming the MSCI World Index (MSCI) by a touch over 1 percent. Positive economic news coming out of China sent the SLI into a mini-rally at the beginning of the month, however mixed corporate results announcements took some of the wind out of its sails. From a mergers and acquisitions perspective though, the year has started off with a