The Business of Fashion
Agenda-setting intelligence, analysis and advice for the global fashion community.
Agenda-setting intelligence, analysis and advice for the global fashion community.
PARIS, France — Losses in luxury stocks dragged European shares lower on Wednesday, while investors remained wary of making big bets ahead of a widely expected interest rate cut by the US Federal Reserve.
Swiss luxury goods group Richemont fell nearly 5 percent, weighing the most on the pan-European STOXX 600 index, while Swatch declined 2.4 percent after a bearish note by UBS.
The benchmark European index dipped 0.1 percent, with Paris-listed shares lagging the most.
The Fed is due to release its policy statement at 2 pm EDT (1800 GMT), where it is expected to reduce US borrowing costs for the second time this year, despite deep divisions among policymakers about whether a cut is needed.
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French utility EDF was the top gainer on STOXX 600, up almost 3 percent, after it said there was no need to close any of its nuclear reactors for now following the discovery of problems with weldings.
By Shreyashi Sanyal; editor: Saumyadeb Chakrabarty.
In 2020, like many companies, the $50 billion yoga apparel brand created a new department to improve internal diversity and inclusion, and to create a more equitable playing field for minorities. In interviews with BoF, 14 current and former employees said things only got worse.
For fashion’s private market investors, deal-making may provide less-than-ideal returns and raise questions about the long-term value creation opportunities across parts of the fashion industry, reports The State of Fashion 2024.
A blockbuster public listing should clear the way for other brands to try their luck. That, plus LVMH results and what else to watch for in the coming week.
L Catterton, the private-equity firm with close ties to LVMH and Bernard Arnault that’s preparing to take Birkenstock public, has become an investment giant in the consumer-goods space, with stakes in companies selling everything from fashion to pet food to tacos.