LVMH upbeat on growth as profits jump January 31, 2013 LUXURY conglomerate LVMH said yesterday it aims to keep growing in 2013 despite Europe’s uncertain economic environment, as it posted improved fourth-quarter figures. Sales rose eight per cent in the quarter to the end of December, up from six per cent the previous quarter. The group reported 13 per cent growth in full-year profit to [...]
Burberry shares slide after chief warns on China October 7, 2013 SHARES in Burberry plunged yesterday after the brand’s chief executive stressed that the slowdown in China could be more than a passing phase for the luxury sector. The Chinese economy’s growth this year looks set to meet the government’s 7.5 per cent target. However, that would still represent the slowest pace of expansion in 23 [...]
Discovering the entrepreneurial spirit behind Argentine wine November 24, 2013 Laura Ivill travels to Mendoza in Argentina to experience the wine-making journey from humble grape to fine-dining staple DRAW a line on the map from the bustling streets of Buenos Aires west across Argentina’s interior and you reach the soaring 6,000-metre peaks of the Andes. In the foothills, the low-rise sprawling city of Mendoza lends [...]
London Report: FTSE stages late rally on hopes of US resolution October 16, 2013 EXPECTATIONS of an imminent deal in Washington to avert a US debt default sparked a late turnaround on Britain’s top share index yesterday. London’s blue chip index rallied off a session low of 6,504.27 to close up 22.48 points, or 0.3 per cent at 6,571.59 after a senior Senate Democrat aide said negotiations on legislation [...]
The Bottle Opener: Champagne’s leading man December 12, 2013 The last eponymous head of a champagne house talks about his passion for fizz Pierre-Emmanuel Taittinger, the last eponymous head of a great champagne house, personifies the wine he has spent his life making and selling; full of elegance, charm and effervescence. “I am a singular man. I am an iconoclast. My favourite food is [...]
LVMH boss Arnault to be knighted October 7, 2012 The chief executive of French luxury group LVMH, Bernard Arnault, is set to be knighted in London for his contributions to the British luxury industry, a company spokesman said yesterday. Arnault will become a Knight Commander of the Most Excellent Order of the British Empire, the spokesman said. The distinction is to recognise Arnault’s contributions [...]
LVMH suffers third quarter slowdown October 15, 2012 The worldwide boom in luxury goods appeared to be slowing down yesterday, as LVMH revealed sales grew just six per cent into the third quarter – after eight per cent growth in the second quarter, and 12 per cent growth in the first quarter. The drop came from reduced demand for high-end goods, said the [...]
Hermes seeks an insider trading probe into LVMH stake building September 4, 2012 THE LONG-SIMMERING feud between two of France’s top luxury houses boiled over yesterday after Hermes asked French prosecutors to open a probe into alleged insider trading and share manipulation by larger rival LVMH. LVMH has been gradually increasing its holding in Hermes since it surprised the market in 2010 by saying it had built up [...]
PPR and LVMH see strong sales July 26, 2012 French luxury firms PPR and LVMH reported strong first-half profit growth yesterday. LVMH, the world’s largest luxury company which holds brands like Louis Vuitton, saw a 20 per cent rise in its profit from recurring operations, which reached €2.66bn. PPR also saw its recurring operating income rise 20.4 per cent. Its luxury division profit growth [...]
Louis Vuitton boss in shock exit December 18, 2012 Louis Vuitton’s new chief executive has quit the company suddenly because of health reasons, parent group LVMH said yesterday. The world’s largest luxury company said Jordi Constans would be replaced by Michael Burke, chief executive since February of Bulgari, the Italian jeweller that LVMH added to its stable last year. A dual French-US citizen, Burke [...]