Shares of Versace Owner Capri Seen Falling 30% If Deal With Coach Owner Tapestry Fails
Since the merger announcement, Capri has reported weaker-than-forecast earnings twice, spurring concern about its performance in the coming quarters.
Audemars Piguet
The Future of Watches
The luxury watch market is facing challenges that are unlikely to be resolved any time soon, says Luca Solca.
Power Moves | Schiaparelli Announces Artistic Director, Audemars Piguet Names North America CEO
This week, Schiaparelli names Bertrand Guyon’s successor, while a former Berluti executive is appointed to lead the North America division of Audemars Piguet.
Swiss Watchmakers Say Slowing Growth in China Won't Hurt Sales
Swiss watchmakers are confident they can grow sales this year even in the face of a cooling Chinese economy thanks to strengthening demand elsewhere, executives told Reuters at an industry fair on Thursday.
Unicorn Deals Fail to Ignite the Market
Despite continuing signs of growth and the announcement of landmark deals, the Savigny Luxury Index was flat this month.
Swiss Watchmaker Audemars Piguet to Boost Revenue by Taking Sales Inhouse
The luxury watch brand wants to totally control the distribution of its luxury watches, cutting out third-party multi-brand retailers within three to five years.
Audemars Piguet on Track to Hit $1 Billion in Sales This Year
The watchmaker also launched its first online pop-up boutique with Chinese e-commerce platform JD.com, hoping to tap into China's burgeoning middle class who are increasingly shopping online.
Stock Levels at Watch Retailers Still Too High
Robust recovery in luxury watch sales may be some way off as Swiss watchmakers emerge from a severe downturn.
The News in Brief
Celine Adds To Fragrance Line-Up
The new scent, Zouzou, is the fashion house’s first new perfume since 2022.
Unilever Sales Rise More Than Expected, Led by Beauty
Unilever Plc sales jumped more than expected in the first quarter as Chief Executive Officer Hein Schumacher pushes ahead with his turnaround plan and shoppers come back to premium brands.
Biden Signs Possible TikTok Ban Into Law; ByteDance Vows Legal Challenge
President Biden signed the bill that gives China-based ByteDance 270 days to divest TikTok’s US assets or face a ban.
Google Postpones Phasing Out of Ad Cookies in Chrome Browser
The Alphabet Inc. company said in a blog post Tuesday that it’s still working with the ad industry and regulators on the plan.
Sales at Italy’s Moncler Up 16% in First Quarter Boosted by China
Overall revenues for the three months through March totalled 818 million euros ($874 million), above a company-provided analyst consensus of 786 million euros.
PZ Cussons to Sell St Tropez, May Exit Africa
Embattled by weak demand and currency issues in Nigeria, the company is looking to slim down in order to return to growth.
EU Parliament Approves New Business Supply Chain Audit Law
EU lawmakers backed the Corporate Sustainability Due Diligence Directive by 374 votes to 235 against, with 19 abstentions.