Richemont Acquires Italian Jeweller Vhernier
Vhernier is small but Richemont has a history of turning small brands into success stories
Shares in the Italian luxury-goods maker rose more than 4 percent, after Eraldo Poletto said he would step down from his position as chief executive.
Salvatore Ferragamo’s CEO aims to outperform the luxury sector average by a factor of two, surpassing €2 billion in revenue by 2020.
Italian luxury goods group Salvatore Ferragamo said it appointed as new chief executive former Furla head Eraldo Poletto, credited for a doubling of sales at the accessibly-priced handbag maker in the last five years.
Vhernier is small but Richemont has a history of turning small brands into success stories
The company has argued that the law will stifle free speech and hurt creators and small business owners who benefit economically from the platform.
‘We have been and will always be open to considering opportunities,’ Lorenzo Bertelli told reporters Tuesday at the opening of a knitwear factory in Torgiano, Italy.
The online fashion marketplace average order value increased to €60.4 ($65) in the first quarter, from €57.3 a year earlier.
Beauty company Coty beat Wall Street expectations for third-quarter revenue on Monday and said it expects to achieve the high end of its annual targets, riding on steady global demand for its luxury and mass-market products.
A complaint by climate-advocacy group Stand.earth prompted the inquiry.
The new contract includes $3.6 million in wage increases, and eight weeks of severance for laid-off employees, according to a statement from the NewsGuild of New York, the union’s organising body.
The Japanese skincare company has recruited the likes of softball player AJ Andrews and Anna Leigh Waters to reach new audiences and grow awareness.