Prestigious brands suffer falling sales in China – but luxury hasn’t lost its lustre just yet November 19, 2015 Fom Hermes handbags and Tiffany jewellery, to Moet champagne and Hennessy cognac, luxury companies have had a storming run on the stock markets since the turn of the millennium. Alongside high-end brands with very exclusive products, the luxury sector also includes names considered commonplace in the West, such as Nike, L’Oreal and Swatch – which [...]
I’ll drink to that: Sales at British winemaker Chapel Down up a third September 25, 2015 British winemaker Chapel Down announced sparkling interim results yesterday, with year-on-year sales up 33 per cent and gross profits up to £1.17m, a 31 per cent increase on the year before. The Kent-based vineyard’s speciality – sparkling wines – enjoyed a 45 per cent increase in sales, accounting for £2.28m of the total figure of [...]
Ferrari IPO exuberance leaves sanity in the dust – CNBC Comment October 27, 2015 What do Ferrari, Lamborghini, Porsche, Bugatti and Rolls Royce have in common? Well they are all top end luxury motors with eye-watering list prices, so the answer is, I guess, lots. And yet in terms of the value the stock market is placing on them, Ferrari is priced, well, like a Ferrari, while the rest [...]
LVMH agrees to peace deal with Hermes family September 3, 2014 FRANCE’S richest man Bernard Arnault yesterday agreed to relinquish most of his $7.5bn (£4.5bn) holding in luxury goods maker Hermes International, bringing to an end a bitter four-year battle. Arnault’s LVMH Moet Hennessy Louis Vuitton agreed to distribute most of its 23.2 per cent stake in Hermes among its shareholders and not to acquire any [...]
London Fashion Week kicks off as China slowdown is becoming an increasing headache for luxury brands September 15, 2015 Friday marks the start of London fashion week, when luxury brands flaunt their Spring/Summer collections on the catwalk and throw champagne-fuelled parties to celebrate the arrival of the next fashion season. But behind the scenes, the party mood is more subdued as luxury companies nervously assess how great an impact the ongoing economic slowdown [...]
Google settles 10-year legal spat with LVMH September 4, 2014 SEARCH giant Google and luxury goods group LVMH Moet Hennessy Louis Vuitton yesterday announced they had settled a decade-long legal dispute over counterfeit goods being advertised online. LVMH had complained that Google was selling ads that infringed on its trademarks and linked to counterfeit products for sale. Yesterday’s settlement will see both firms work together [...]
LVMH share price out on top as Hermes “handbag war” comes to an end September 3, 2014 Handbag makers LVMH and Hermes have been taking each other to court for four years. Their feud began in 2012 after it was disclosed that LVMH, whose handbag brands include Louis Vuitton, Dior and Givenchy, had built up a 17 per cent stake in Hermes and proceeded to purchase further shares. It made [...]
Mulberry ends year-long chief exec search with Thierry Andretta March 12, 2015 MULBERRY has appointed Thierry Andretta as its new chief executive, ending a year-long search to replace Bruno Guillon, who stepped down following falling share prices and several profit warnings. Andretta joined the luxury handbag company last year as an independent non-executive director and has recently been engaged as a consultant to assist with reviewing Mulberry’s [...]
Apple Watch beware: Switzerland is unleashing a wave of smart tech at the high end April 8, 2015 “An expensive watch is a piece of art, part of eternity,” professed LVMH’s bumptious watch chief and erstwhile industry spokesman Jean-Claude Biver on CNN in February. “Because,” he explained, “a watch that is made by hand can be repaired in a thousand years. A technological watch will be obsolete in probably five.” That may be, [...]
Tag Heuer joins with Google in a smartwatch deal March 19, 2015 LUXURY watchmaker Tag Heuer is partnering Google and Intel to go head-to-head in the emerging smartwatch battleground. The trio announced their plans yesterday to team up at the Swiss trade fair Baselworld, and between them they could produce something that rivals Apple’s recent efforts in the area. The companies described it as “a new era [...]