The China Edit is a weekly curation of the most important fashion business news and analysis from and about the world’s largest luxury market.
The Savigny Luxury Index fell a further 3.8 percent this month. The outlook for the luxury goods sector darkened as disappointing results from industry leader LVMH showed how the strong euro and political protests in Hong Kong were curbing spending and hitting profits.
HERZOGENAURACH, Germany — Puma SE, Europe’s second-largest sporting-goods maker, reported a decline in first-quarter profit, underscoring the scale of the challenge facing Chief Executive Officer Bjoern Gulden to achieve a turnaround.
The Savigny Luxury Index (“SLI”) leaped by 3.5 percent last month, as the feel-good factor returned to the luxury sector, underpinned by strong results announcements and positive market reaction to repositioning strategies.
PARIS, France — Kering SA reported first-quarter sales that beat analysts estimates as growth in its directly operated stores cushioned a slowdown at handbag maker Gucci, and said it will reorganize its luxury division.
MILAN, Italy — Italian fashion and leather brand Gucci will take direct control of its shops in Moscow and open two new points of sale in the Russian capital, the company said on Monday.