PARIS, France — LVMH Moet Hennessy Louis Vuitton SA, the world’s largest luxury-goods company, reported first-quarter sales growth that matched estimates, led by gains in the wines & spirits unit and at DFS duty-free stores.
L Capital Asia and Malaysia’s YTL Corporation have acquired a 49.9 percent stake in Australian boot and apparel retailer R.M. Williams.
SHANGHAI, China — For decades, made-in-Asia luxury has been shorthand for “fake.” Now, companies from South Korean bag maker Couronne to Malaysian dressmaker Farah Khan are making a case for homegrown chic. Couronne, Khan and brands such as Woo, a Shanghai-based producer of silk scarves, are winning clients with products that can rival goods made in Europe. Their growing popularity, amid slowing sales at Louis Vuitton and other European brands, shows how demand is changing in Asia, with consumers favoring fresh designs over ubiquitous logos. The trend may lead to more acquisitions in the region as companies such as LVMH Moet Hennessy Louis Vuitton SA and PPR SA seek to boost growth. “Luxury brands of the 21st Century can come out…
PARIS, France — Bernard Arnault, France's richest man, has abandoned attempts to obtain Belgian nationality and will keep paying tax in his native country after months of speculation that he, like movie star Gerard Depardieu, wanted to dodg...
PARIS, France — Most luxury goods groups will not publish first-quarter figures until at least later this month, but anecdotal evidence is growing of at least a temporary slowdown in spending by travelers, which analysts say could be linked to worries about the global economy and tax increases in Europe, as well as the tough stance taken by China's new president Xi Jinping on illegitimate gift-giving.
PARIS, France — Louis Vuitton, which last month raised prices by an average 12 percent in Japan, has imposed similar increases on non-leather handbags in most of its main markets since the start of the year, according to HSBC.
MILAN, Italy — Luxury goods group LVMH is said to have made an offer for Pomellato, adding suspense to the protracted battle to acquire the Milan-based jeweller, which has been seeking capital since 2011.
PARIS, France — For the first time since Raf Simons took the creative helm at Dior, the French fashion house is bringing its Haute Couture show to China, with an event to be held in Shanghai on March 30. The show will be a repeat outing of the Spring 2013 Haute Couture collection that was first presented in January during Paris Couture Week and marks the second couture show in China for Dior, which presented its Spring 2012 Haute
MILAN, Italy — Italian police seized more than 46 million euros ($59 million) of assets from executives linked to jeweler Bulgari including Francesco Trapani, who heads parent company LVMH Moet Hennessy Louis Vuitton SA’s watch and jewelry unit, for alleged tax evasion.
PARIS, France — Whether it is private financing or takeovers by major luxury groups like LVMH, the latest trend in fashion is to find a promising niche label that has no history but plenty of imagination.