Mulberry hires the boss of Italian jeweller Buccellati as a non-exec June 10, 2014 MULBERRY has bolstered its board by hiring the chief executive of Italian luxury jeweller Buccellati as a non-executive director. The appointment of Thierry Andretta comes at a turbulent time for the luxury group, which has issued four profit warnings over the past two years. The firm is also searching for a new chief executive following [...]
Apple preparing for iWatch launch with another high profile hire July 5, 2014 Apple appears to be gearing up for the impending launch of its iWatch with another high profile hire, poaching a senior executive from Swiss luxury watch brand Tag Heuer. Tag Heuer, part of luxury goods group LVMH, announced that vice president for sales Patrick Pruniaux will be leaving the company on Monday 7 July to join [...]
What the other papers say this morning – 10 April 2014 April 9, 2014 FINANCIAL TIMES Firms in the dark over pension charges Employers running final-salary pension schemes can be charged 10 times more than more efficient competitors, according to a new regulatory study that exposes a further lack of transparency in Britain’s investment industry. Research by The Pensions Regulator has also found that nearly a quarter of the [...]
Remy Cointreau shares rise on bid talk April 4, 2014 French drinks company Remy Cointreau has seen its share price jump on the back of speculation that Jack Daniel's maker Brown-Forman is considering a bid for the company. Shares rose by 10 per cent but have now pared back to a more modest 3.8 per cent gain. According to the Betaville blog "tentative discussions have [...]
Women’s watches: fashion houses May 23, 2014 Chanel J12 White Classic, £3,300, chanel.com There are many subtle nuances of snobbery in the world of watches. One particular favourite is when a group of watch journalists gather and someone inevitably asks: “what are you wearing?” Those with Swiss-made, in-house movements look down on those whose watches contain an off-the-peg one. Those wearing [...]
What you need to know before the US open April 10, 2014 US stock futures haven’t altered much today, following the S&P 500 reaching its largest gain in more than a month. The number of people claiming unemployment benefit for the first time in the US has dropped to a May 2007 low of 300,000 – much lower than expected. Over here, the Bank of England’s decided [...]
CNBC Comment: How Qatar became Europe’s power broker May 19, 2014 WHEN in distress, US banks call Warren Buffett. In Europe, banks have turned to Qatar. It may only be the size of Yorkshire, but Qatar’s swoop on Deutsche Bank confirms its role as Europe’s power broker, having struck similar deals with Barclays, Credit Suisse, Dexia, KBL and Greece’s Alpha Bank. Germany’s largest bank has announced [...]
Introducing Yummy: The rise of HSBC’s metrosexual shopper March 21, 2014 It hasn’t been an easy ride recently for luxury brands operating in emerging markets. This week, Mulberry lost its chief executive, following a shock profit warning in January, and brands Hermes, Kering and LVMH have seen their stocks slide over ten per cent since the autumn. The continued worries about the slowdown in the Chinese [...]
Uniqlo owner in talks to buy out Cath Kidston April 14, 2014 THE OWNER of high street fashion chain Uniqlo is leading a pack of suitors hoping to take control of UK homeware company Cath Kidston. Japanese company Fast Retailing, which is listed in Hong Kong and Tokyo, has approached Cath Kidston’s private equity backers TA Associates about acquiring its 65 per cent controlling stake in the [...]
Ruffled Remy Cointreau names new cognac chief January 27, 2014 More shakeup for unsettled Remy Cointraeu. The French alcohol company has today announced a top executive from luxury conglomerate LVMH, Eric Vallat, as the new head of its cognac division, Remy Martin. Remy is facing uncertainties when it comes the future, as it struggling with falling sales, due to waning demand in China. Vallat, who [...]