PARIS, France — Kering SA reported a 2.3 percent drop in 2013 earnings amid the weakest growth in four years at the Gucci luxury-goods brand.
PARIS, France — Puma SE, Europe’s second-largest sporting-goods maker, ruled out a rapid recovery as it reported a slump in full-year profit.
Investors are moving away from bigger groups towards smaller brands and American “affordable luxury.” Meanwhile, the jury is still out as to whether the crucial trading period from Thanksgiving to Christmas will deliver strong results, but sentiment remains positive, reports Pierre Mallevays of Savigny Partners.
PARIS, France — Kering SA, the owner of Gucci, entered exclusive talks to sell La Redoute to management, aiming to complete the disposal of the mail-order unit in the first half of 2014 as it focuses on luxury and sporting goods.
PARIS, France — Kering, formerly called PPR, said it expects net income this year to drop “very significantly,” hurt by one-time charges related to its Puma brand and from costs related to its sale of mail-order business La Redoute.
BOLOGNA, Italy — Yoox Group, the operator of e- commerce stores for brands from Armani to Zegna, maintained its outlook for full-year revenue and earnings growth after investments in mobile technology helped boost quarterly sales.
The Savigny Luxury Index lost ground in October, as consumer appetite for mega-brands continues to cool and management changes shake up the industry.
PARIS, France — Worldwide luxury-goods sales will expand at the slowest pace since 2009 this year as slack Chinese consumption and the weakness of the Japanese yen weigh on growth, according to an estimate from Bain & Co.
PARIS, France — Kering SA reported third-quarter revenue that trailed estimates as its Gucci luxury-goods brand posted the weakest growth in four years.
PARIS, France — Crocodile-skin handbags can be to die for. Really. As demand from the world’s elite surges for the skins, luxury-goods companies from LVMH Louis Vuitton Moet Hennessy SA to Gucci-owner Kering SA are making acquisitions to secure supply of the beasts, whose habits can make simply collecting their eggs a matter of life and death. Raising the reptiles from hatchling to arm candy without scratches from other crocs is
The Savigny Luxury Index has gained good ground in September and is up by 3.7 percent, outperforming the MSCI World Index by over one percentage point, as Asian tourist flows to Western fashion hubs remain strong and the world’s largest luxury conglomerates snap up young designers, reports Pierre Mallevays of Savigny Partners.