MILAN, Italy — Italian police seized more than 46 million euros ($59 million) of assets from executives linked to jeweler Bulgari including Francesco Trapani, who heads parent company LVMH Moet Hennessy Louis Vuitton SA’s watch and jewelry unit, for alleged tax evasion.
PARIS, France — Whether it is private financing or takeovers by major luxury groups like LVMH, the latest trend in fashion is to find a promising niche label that has no history but plenty of imagination.
LONDON, United Kingdom — The Savigny Luxury Index (“SLI”) gained 2.7 percent in February, underperforming the MSCI World Index (“MSCI”) by over one percentage point. The SLI lost ground at the beginning of the month following the questions raised on sector growth by LVMH’s annual results announcement. Big news • Most analysts felt that LVMH’s organic growth numbers for 2012 were a bit lower than expected. This, combined with Mr.
PARIS, France – LVMH Moet Hennessy Louis Vuitton SA is poised to pursue a takeover as revenue growth, led by sales of its eponymous handbags, slows the most in four years. The $87 billion company could go after Burberry Group Plc, the U.K.’s biggest luxury-goods producer or Tiffany & Co., the New York-based jeweler, according to luxury industry analysts.
TOKYO, Japan -- LVMH Moet Hennessy Louis Vuitton SA raised some prices by an average 12 percent at its flagship brand in Japan, the unit’s biggest price hike, to offset the impact of the yen’s slide on sales. The Louis Vuitton brand raised prices Feb. 15, spokeswoman Kaori Fuse said. Retailers such as LVMH, the world’s biggest luxury goods maker, are confronting a plunge in the yen that undercuts the value of sales in Japan, the second-biggest market for personal luxury goods. The yen has depreciated against both the dollar and the euro as Prime Minister Shinzo Abe talked down the value of the currency, promising to implement policies to stimulate the economy and have Japan’s central bank set a…
LONDON, United Kingdom — The Savigny Luxury Index (SLI) gained 2.8 percent in January, outperforming the MSCI World Index (MSCI) by a touch over 1 percent. Positive economic news coming out of China sent the SLI into a mini-rally at the beginning of the month, however mixed corporate results announcements took some of the wind out of its sails. From a mergers and acquisitions perspective though, the year has started off with a
L’Wren Scott: ‘No clothes fitted – that’s why I started to make them’ (Telegraph) “Since 2006, she has built up a highly regarded fashion business. Her red-carpet dresses – often flattering sheaths that undulate reassuringly along with their wearer – are cherished by Nicole Kidman, Sarah Jessica Parker, Christina Hendricks and Penélope Cruz.” LVMH to Adjust Vuitton
Why Some Labels Will Sidestep Fashion Week (WSJ) “New York’s calendar has become noticeably more crowded as labels squeeze in with entrepreneurial zeal. While fashion shows used to be limited to high-style labels, midprice contemporary labels and menswear brands are now muscling into New York. One reason: No official body controls the calendar, unlike in Milan and Paris, where just a few dozen labels are invited to show
Arnault says Belgian move can shield LVMH (FT) “The head of LVMH has been accused by the media in his homeland of wanting Belgian nationality to escape President François Hollande’s higher French taxes but he has repeatedly insisted that he ‘is and will remain fiscally domiciled in France’.” The Milan Plan (China Daily) “The scene is familiar enough – an army of buyers, journalists, celebrities
What to Make of PPR’s Christopher Kane Investment (Analysis) “But fast forward a few more years and today, both Stella McCartney and Alexander McQueen have grown into medium-sized businesses with over €100 million in annual revenue each by pursuing business models that fit, respectively, with their unique brand DNAs.” Finding Your M.O. | Part 14: Going Corporate (Education) “As in life, the time comes when every
[caption id="attachment_40456" align="alignnone" width="500" caption="Nicola and Paolo Bulgari | Source: Forbes/Getty Images"][/caption] Bulgari Brothers, Jewelers To The Stars, Are Billionaires Thanks To Tiny LVMH Stake (Forbes) "In 2011, however, French luxury empire Moët Hennessy Louis Vuitton (LVMH) acquired Bulgari in an all-share deal, handing over 3.6% of the conglomerate to the family. Last year, as LVMH’s stock rose, the Bulgaris and nephew Trapani sold a tiny sliver of their stake, reportedly to take care of taxes and other expenses." Amid U.K. Retailer Woes, a Web Fashion Foray (BusinessWeek) "As more British retailers succumb to competition from the Internet, a venture capital firm is underscoring the shift with its first investment in a fashion seller to develop its online business." On Top of the…