LONDON, United Kingdom — Italian designer Roberto Cavalli is in advanced talks to sell a majority stake in his eponymous fashion house to London-based buyout firm Permira in a sale worth about 450 million euros ($621 million), four sources close to the deal told Reuters.
PARIS, France — LVMH Moet Hennessy Louis Vuitton SA bought the Clos des Lambrays vineyard to expand into Burgundy, adding to its holdings in Bordeaux, Champagne and the New World.
PARIS, France — LVMH Moet Hennessy Louis Vuitton SA, the world’s largest luxury-goods company, reported first-quarter sales that trailed analysts’ estimates as revenue from wine and spirits dropped on destocking by retailers in China.
BoF compiles the most important professional moves of the week.
TOKYO, Japan — Mori Building Co., Japan’s biggest closely held developer by sales, and LVMH Moet Hennessy Louis Vuitton SA, the world’s largest luxury-goods maker, are part of a group that will develop a retail and office complex in Tokyo as they anticipate increasing consumer spending.
PARIS, France — While Gucci and Louis Vuitton blame slumping sales on their upmarket drive they argue will help them regain some of their lost glory, there is growing evidence they are losing out to newer, more affordable luxury brands.
The Savigny Luxury Index (“SLI”) leapt by 6.7 percent this month, overperforming the MSCI World Index (“MSCI”) by almost six percentage points, as luxury sector investors seem to have received the reassuring they needed from a number of positive signals, reports Pierre Mallevays of Savigny Partners.
SHANGHAI, China — As Chinese shoppers get better acquainted with so- called accessible luxury brands, they’re discovering a designer wardrobe doesn’t have to cost them months of pay.
Lack of clarity over the luxury sector’s performance in 2013 and prospects for 2014 caused a dip in the first half of January, reports Pierre Mallevays of Savigny Partners.
PARIS, France — LVMH Moet Hennessy Louis Vuitton SA, the world’s largest luxury-goods maker, reported a 2 percent gain in annual profit as growth in fashion and leather-goods sales rebounded in the fourth quarter.
PARIS, France — LVMH said watches and jewelry head Francesco Trapani would step down on March 1, becoming an advisor to group Chairman Bernard Arnault and keeping his seat on the board of directors of the world's biggest luxury group.
BERLIN, Germany — Spanish fashion label Desigual is accelerating its expansion in Europe and emerging markets, seeking to ride predictions of fast growth in women's apparel while also taking the colourful brand into new areas like perfume and shoes.
HONG KONG, China — Wealthy Chinese are likely to buy fewer luxury goods again this year after the steepest cut-back on spending in at least five years, changing the game for high-end retailers like Louis Vuitton which have staked their growth on China.