With a few notable exceptions, luxury brands remain slow in building digital capabilities, revealed a report released by Exane BNP Paribas.
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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.
Kering reported second-quarter revenue exceeding analysts’ estimates as surging demand for Saint Laurent helped compensate for falling sales of Gucci.
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.