PARIS, France — French billionaire Bernard Arnault wants you to spend the night and eat his pastries. After decades of acquiring luxury goods that consumers can drink and wear, the chairman of LVMH Moet Hennessy Louis Vuitton SA last week bought a five-star hotel in St. Barths and in June added a storied Milanese cafe, accelerating his push to meet all his well-heeled clients’ earthly needs.
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 — LVMH Moet Hennessy Louis Vuitton SA, the world’s largest luxury goods maker, said it increased its stake in Hermès International SCA to 23.1 percent from 22.6 percent in what it described as “an opportunistic move.”
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.
The China Edit is a weekly curation of the most important fashion business news and analysis from and about the world’s largest luxury market.
PARIS, France — LVMH Moet Hennessy Louis Vuitton SA, the world’s largest luxury-goods maker, says its sales of jewelry and watches have dropped in mainland China and are being offset by Chinese nationals buying overseas.
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?
PARIS, France — Hermès International SCA, the French maker of Kelly bags, said sales growth this year may top 10 percent after reporting revenue that surpassed analysts’ estimates in the second quarter.
TOKYO, Japan — Japanese apparel firm Fast Retailing Co Ltd has a problem: sales are surging, full-year net profits are expected to rise nearly 28 percent but the customers thronging the stores of its popular Uniqlo brand are far too frugal for its liking.
CORONA, Italy — Sergio and Pier Luigi Loro Piana, the brothers who head Italian cashmere clothier Loro Piana SpA, have emerged as billionaires after agreeing to sell 80 percent of the family-owned company to LVMH Moet Hennessy Louis Vuitton SA.
French luxury conglomerate LVMH has purchased a majority stake in the Italian luxury wool and cashmere company Loro Piana for $2.6 billion.