LONDON, United Kingdom — This month’s Market Pulse shows a continuing upward trend for luxury and fashion stocks versus the MSCI World market benchmark, erasing any lingering doubts about the return of the luxury consumer. Big news • Luxury brands have had an excellent start to the year reporting strong Q1 results. Double digit sales growth has been fuelled by continued strong growth in China and economic recovery in the US
Ascher London is relaunched (Telegraph) “The once-legendary scarf brand Ascher was famous for its collaborations with the 20th century’s most illustrious artists. Now the founder’s grandson is setting out to revive the tradition.” Galeries Lafayette in Beijing return (FT) “The group said it expected its first store to open in Beijing in 2013… The announcement comes three years after Galeries
Keeping it Masculine (WSJ) “Men have more style than ever to choose from. Luxury labels from France’s Hermés to American icon Ralph Lauren are opening stores dedicated to men… — Gucci, Prada, Dior, Chanel, Burberry — dress men too.” India Innovates, China Makes, America Buys (WSJ) “Anyone whose daily commute includes the clogged roads of Mumbai would be temporarily enthralled by the
Shine returns as Tiffany’s sales rise (FT) “Tiffany, the US jeweller, raised its profit outlook yesterday as strong holiday sales brought some shine back to an industry that cash-constrained consumers shunned during the worst of the recession.” Tony Blair could help LVMH’s forays into new markets (Reuters) “Tony Blair’s expected appointment as adviser to LVMH… could help it penetrate tough
Retailers Offer Big Discounts, and Then Pray (New York Times) Retailers have been offering doorbuster sales before Thanksgiving in order to lure customers in store despite the economic downturn. Tiffany Profit Drops, Cuts Forecast as Sales Fall (Bloomberg) Tiffany & Co. "said profit fell and cut its forecast as sales dropped for the first time in almost seven years amid the global financial crisis." Cavalli Cleared of Tax Evasion (WWD) Roberto Cavalli has been cleared of tax evasion by the Italian Supreme Court of Cassation. Where To Find Small-Store Holiday Sales (Forbes) "Independent retailers are cutting prices and adding personal touches in order to stay afloat." Doorbuster deal at Toys R Us, photo courtesy of the New York Times.