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.
PARIS, France — Luxury brands are stepping up the battle for travelling shoppers with more outlets at airports and on cruise ships, tapping into one of the fastest growing sections of the market that looks set to keep booming thanks to soaring numbers of Asian tourists.
PARIS, France — LVMH Moet Hennessy Louis Vuitton SA, the world’s largest luxury-goods maker, named Antoine Arnault chairman of cashmere clothier Loro Piana SpA, expanding the responsibilities of billionaire Bernard Arnault’s eldest son.
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.
MOSCOW, Russia — Workers in orange jackets and cranes were busy today dismantling a giant suitcase erected by LVMH Moet Hennessy Louis Vuitton SA in the middle of Moscow’s Red Square after it sparked protests.
MILAN, Italy — Loro Piana, an Italian luxury textiles maker and fashion house, is so particular about its materials that it bought its own natural reserve in the mountains of Peru to protect the vicuna, an endangered species that yields a precious wool.
The Savigny Luxury Index lost ground in October, as consumer appetite for mega-brands continues to cool and management changes shake up the industry.
HONG KONG, China — DFS Group, an operator of duty-free shops controlled by LVMH Moet Hennessy Louis Vuitton SA (MC), said it plans to open its first stores in Europe to cater to Chinese consumers who travel more frequently to the region.