LVMH Increases Holding in Rival Hermès in ‘Opportunistic’ Move

LVMH Chairman and CEO Bernard Arnault | Source: Courtesy photo

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.”

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LVMH and Kering Sales Growth Accelerates as Luxury Goods Industry Rebounds

Louis Vuitton Menswear Spring/Summer 2014 | Photo: Sonny Vandevelde

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.

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LVMH China Watch Sales Decline Offset by Overseas Purchases

Tag Heuer campaign feat. Maria Sharapova 2013 | Source: Tag Heuer

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.

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Thrift Trumps Abenomics as Japan Shoppers Stick to Bargains

Market at Nissan Stadium Yokohama Japan | Source: Shutterstock

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.

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Loro Piana Brothers Become Billionaires Selling Cashmere to LVMH

Sergio and Pier Luigi Loro Piana | Source: Bloomberg

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.

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Douglas Said to Be Final Bidder for Sephora Retail Rival Nocibé

Nocibé Boutique La Roche-sur-Yon | Source: Les Flâneries

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.

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LVMH Fined $10.4M for Hermès Share Purchases

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…

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