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.
LONDON, United Kingdom — Douglas Holding AG, the German cosmetics retailer owned by Advent International Corp., is the final bidder for French perfume and cosmetics retailer Nocibé SA from Charterhouse Capital Partners LLP, according to people with knowledge of the process.
PARIS, France — France's market regulator is fining luxury conglomerate LVMH Moet Hennessy Louis Vuitton 8 million euros ($10.4 million) for not disclosing its intention to build up a significant stake in handbag and scarf maker Hermès. The AMF said Monday that LVMH was too slow in revealing its stake, which was built by using foreign subsidiaries. Large transactions are supposed to be disclosed quickly since they can affect share prices. LVMH raised its stake in Hermes to 14.2 percent in 2010, to the apparent dismay of the Hermès family. Hermès has accused the luxury giant of insider trading, claims the Paris prosecutor's office is investigating. LVMH, which since increased its stake to 22.3 percent, has called those charges unfounded…
Sales of luxury goods are slowing and, given the uncertain outlook, investors are taking profits, reports Pierre Mallevays, founder and managing partner of Savigny Partners.
ISTANBUL, Turkey — Social unrest in Turkey and Brazil is making it harder for luxury-goods makers to keep shoppers spending in a difficult economy, according to Ermenegildo Zegna.
PARIS, France — According to market sources, Delphine Arnault, the eldest child of LVMH chairman and chief executive Bernard Arnault, will leave her post as deputy general manager of Dior, which she has held since 2008, for a position at the group's largest luxury brand, Louis Vuitton, effective this September.
Luxury brands should take a page from technology companies like Apple and adopt ‘ecosystem models’ to develop new markets, channels and products, advises a recent report by The Boston Consulting Group. BoF investigates.
PARIS, France — LVMH will throw open the doors of its Louis Vuitton workshops and Hennessy cognac cellars at the weekend in the latest salvo of an advertising war among luxury groups to show off the craftsmanship behind their brands.