Market Pulse | Giving Thanks?

Savigny Luxury Index November 2013 | Source: Savigny Partners

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.

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Richemont Slides as Chairman Says Global Economy Is ‘Precarious’

Chloé A/W 2013 | Photo: Sonny Vandevelde

GENEVA, Switzerland — Cie. Financiere Richemont SA, the owner of the Cartier brand, fell the most in more than two months after Chairman Johann Rupert said he’s very concerned that the global economy is in a precarious position.

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Richemont Rules Out Divestments as Growth Picks Up

Lancel store in Moscow | Source: Wikimedia

ZURICH, Switzerland — Luxury goods group Richemont has decided not to sell underperforming businesses such as leather goods maker Lancel in part because it couldn't get a good enough price, disappointing analysts' hopes for a quick solution.

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Richemont First-Half Profit Misses Estimates as Asia Decelerates

Cartier store in Hong Kong | Source: Wikimedia

GENEVA, Switzerland — Cie. Financiere Richemont SA, the maker of Cartier jewelry and IWC watches, reported first-half operating profit that fell 0.7 percent as Asian sales growth slowed and currency swings weighed on earnings.

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Market Pulse | Buying Designers Like It’s 1999

Savigny Luxury Index September 2013 | Source: Savigny Partners

The Savigny Luxury Index has gained good ground in September and is up by 3.7 percent, outperforming the MSCI World Index by over one percentage point, as Asian tourist flows to Western fashion hubs remain strong and the world’s largest luxury conglomerates snap up young designers, reports Pierre Mallevays of Savigny Partners.

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The China Edit | Fosun Invests in Caruso, Richemont Misses Target on China Sales, Hong Kong Mall Rents, Tourism Laws, Spectre & Co.

Raffaele Caruso Menswear | Source: Raffaele Caruso

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.

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Arnault Lets Them Eat Cake Amid Luxury Hospitality Push

Maison Cheval Blanc - Courchevel | Source: LVMH

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.

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Richemont Chairman Takes a Break to See Who’s The (Next) Boss

Johann Rupert | Source: Courtesy photo

ZURICH, Switzerland — Richemont boss Johann Rupert has promised to switch off his phone when he takes a break from the company in September. For the South African billionaire it will mark the start of a year-long sabbatical. For his younger managers, it will mark the start of a 12-month competition to show how well they can steer the world's second biggest luxury goods group in his absence - and possibly, ultimately, replace him.

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