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.
PARIS, France — The fashion and luxury-goods industry is facing a shortage of skilled workers, according to Francois-Henri Pinault, chief executive officer of Kering SA, the owner of the Gucci brand.
NEW YORK, United States — Kering, the luxury conglomerate formerly named PPR, has taken a minority stake in Altuzarra, the label founded in 2008 by French-American designer Joseph Altuzarra. The deal was finalised yesterday, only days before the label is scheduled to show its Spring 2014 collection at New York Fashion Week, and announced by Altuzarra and Kering this morning.
MILAN, Italy — Prada SpA’s first-half sales growth fell to a third of last year’s as China luxury demand cooled amid a slowdown in the world’s second-largest economy.
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 — Kering SA, the owner of luxury brands Gucci and Bottega Veneta, says its profit slumped 64 percent in the first half of the year due to a loss on the sale of its French books-and-music chain Fnac.
PARIS, France — LVMH Moet Hennessy Louis Vuitton SA, the world’s largest luxury-goods maker, and Gucci owner Kering SA reported accelerating sales growth as the industry rebounded from a weak start to the year.
PARIS, France — Kering SA, owner of the Gucci brand, reported first-half profit that beat estimates as accelerating luxury-goods revenue compensated for lower sporting-goods sales.
In recent years, the number of fashion companies that have gone public or been acquired by large luxury groups has accelerated dramatically. What’s driving the deal flow?
MILAN, Italy — Cavalli Group, the Italian fashion house that dressed actress Jennifer Hudson at the Oscars, ruled out selling a stake any time soon, resisting interest from industry buyers, wealthy families and private-equity firms.