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.
Pauline Brown
Luxury
Bernard Arnault Plans for LVMH Rebound
Historically, Europe’s richest man has made a career out of investing through downturns when his competitors were too weakened or too skittish to forge ahead. Even though his net worth has dwindled more than $30 billion during the crisis, his luxury conglomerate LVMH is going ahead with much of its spending plans.
Bernard Arnault Plans for LVMH Rebound
Historically, Europe’s richest man has made a career out of investing through downturns when his competitors were too weakened or too skittish to forge ahead. Even though his net worth has dwindled more than $30 billion during the crisis, his luxury conglomerate LVMH is going ahead with much of its spending plans.
The News in Brief
Chanel CEO Says Price Hikes Driven by Inflation, Craftsmanship
The luxury goods maker is seeking pricing harmonisation across the globe, and adjusts prices in different markets to ensure that the company is”fair to all [its] clients everywhere,” CEO Leena Nair said.
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.