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.
PARIS, France — Hermès International SCA, the French maker of Kelly bags, said sales growth this year may top 10 percent after reporting revenue that surpassed analysts’ estimates in the second quarter.
PARIS, France — France's market regulator is fining luxury conglomerate LVMH Moet Hennessy Louis Vuitton 8 million euros ($10.4 million) for not disclosing its intention to build up a significant stake in handbag and scarf maker Hermès. The AMF said Monday that LVMH was too slow in revealing its stake, which was built by using foreign subsidiaries. Large transactions are supposed to be disclosed quickly since they can affect share prices. LVMH raised its stake in Hermes to 14.2 percent in 2010, to the apparent dismay of the Hermès family. Hermès has accused the luxury giant of insider trading, claims the Paris prosecutor's office is investigating. LVMH, which since increased its stake to 22.3 percent, has called those charges unfounded…
PARIS, France — Concluding Paris Men's Fashion Week, our trusty contributing photographer Sonny Vandevelde brings us backstage imagery from the Dior Homme, Miharayasuhiro, Damir Doma, Hermès, AMI Alexandre Mattiussi and Lanvin shows.