Markets stumble as China throws sand into the gears of recovery August 19, 2021 European stocks have come under further pressure today, in sharp contrast to last week. The falls appear to be being driven by several factors, so you can pick your poison to a certain extent, however the prospect of a Fed taper is unlikely to one of the main factors, given that US yields are lower, [...]
Ralph Lauren to cut 15 per cent of global workforce September 22, 2020 Fashion magnate Ralph Lauren has said it will cut around 15 per cent of its global workforce, as it seeks to recover costs and streamlines its offering to focus more on digital channels. The cuts, which will take place by the end of this fiscal year, could affect up to 3,700 jobs. The layoffs could [...]
Online car retailer Cazoo making plans to go public – report February 19, 2021 Used car retail platform Cazoo is reportedly making plans to go public at a valuation of £5bn. Sky News reported that the start-up, which was only founded just two years ago, was mulling either a London listing or a merger with a New York-listed “blank cheque” firm, or SPAC. Boss Alex Chesterman, founder of LoveFilm [...]
Coronavirus takes the sparkle off Louis Vuitton’s finances as luxury brands brace for bumpy ride June 30, 2020 Louis Vuitton owner LVMH has forecast that the coronavirus crisis will take the shine off its finances for some time yet. Despite some signs of improvement this month, the world’s biggest luxury goods group admitted this morning that the best it can hope for is a “gradual recovery”, after sales were pummelled by lockdowns across [...]
Jack Dorsey’s Square buys $300m stake in Jay-Z’s streaming firm Tidal March 4, 2021 Mobile payments firm Square has agreed to buy a majority stake in Tidal, the streaming service owned by rapper and producer Jay-Z, for $297m (£212m). Square, which was co-founded by Twitter chief executive Jack Dorsey, said it will pay a mix of cash and stock for the stake, while Jay-Z will join its board of [...]
Sales plunge at Gucci owner Kering as 2020 outlook remains unclear July 28, 2020 Luxury group Kering said sales plunged almost 44 per cent in the second quarter due to the coronavirus pandemic, adding it could not provide a forecast for the second half of 2020. The Gucci owner’s revenue was a touch better than analyst expectations, however, with those at UBS citing estimates for a 46 per cent [...]
Global luxury market on track to beat pre-Covid sales this year – but Europe lags behind November 11, 2021 The global luxury goods sector is set for a powerful rebound and will outperform pre-pandemic levels this year, but Europe lags behind in the absence of tourists’ purses, consultancy Bain has said. Global sales of personal luxury goods – which include fashion, cosmetics, perfumes, watches, handbags and jewellery – are set to reach €283bn (£242bn) this [...]
Is bling out? What Chinese “common prosperity” means for luxury goods October 8, 2021 Evergrande Group will not have helped to calm the nerves of investors in European luxury goods companies. They’ve viewed recent developments in China with some trepidation. The difficulties facing the country’s second largest property developer (by sales) add to a checklist of concerns. These concerns include a slowdown in economic activity (for background, see: China: what [...]
Cemented: Firestone Building unit sold to LafargeHolcim in multi-billion-dollar deal January 7, 2021 LafargeHolcim has snapped up commercial roofing leader Firestone is to be sold to in a hefty $3.4bn (£2.5bn) deal.
Dealmaker’s Spotlight: Evercore October 17, 2022 Datasite recently spoke with Alexander Asher, Vice President, Consumer-Retail Team at Evercore, to hear his thoughts and insights on market conditions, trends, and technology. Evercore is a premier global independent investment advisory firm. Founded in 1995, the firm has advised on over US$4.7 trn M&A and restructuring transactions. Headquartered in New York, it has 17 advisory [...]