Hermes family sets up holding scheme to ward off LMVH December 5, 2010 THE founding family of France’s Hermes luxury fashion group yesterday revealed it has set up a holding company with more than half of the group’s capital in a bid to fight off a takeover bid from Louis-Vuitton Moet Hennessy (LVMH). The bold move, which is subject to regulatory approval, followed crisis talks on Friday, when [...]
Bulgari MBA is the first of a new generation February 16, 2011 LUXURY brands are brilliant at marketing themselves, so perhaps it was only a matter of time before one put its name on an MBA. But the news that Italian luxury goods firm Bulgari has teamed up with Bocconi business school in Milan may raise a few well-plucked eyebrows. In the next cohort of MBA students, [...]
Richemont in sales boost led by China January 17, 2011 SWISS luxury goods group Richemont saw healthy sales growth in all business areas in its third quarter as wealthy Chinese customers continued to splash out on Cartier jewellery and timepieces. Overall sales for the three months to 31 December were up 33 per cent, beating analysts’ forecasts. Sales in the Asia-Pacific region rose 42 per [...]
Defensive luxury October 24, 2010 DESPITE talk of a flight to quality, received wisdom tells us that consumers should cut back on fripperies in hard times. Yet luxury firms of all hues are doing remarkably well. Take Apple, the tech giant that only sells high-end products: it has continued to post ever-rising profits and revenues throughout the recession, smashing its [...]
Don’t cry for me, Argentina: I’ve found Malbec paradise May 8, 2011 THE new Argentina is deeply seductive – its famous beef and increasingly famous wine are celebrated in restaurants from New York to Beirut. Its natural beauty, from the Andes to the plains of Patagonia; its sparkling heat, beautiful people and stunning horses lure travellers the world over. And Buenos Aires, the gorgeous, cosmopolitan crown on [...]
Diageo faces Jim Beam fight December 9, 2010 DIAGEO could be in for an epic struggle to cherry pick top brands including Jim Beam from US conglomerate Fortune. Sources close to the US firm say its management is determined to hang onto the drinks business after splitting the firm in three. Fortune announced it will separate its most profitable drinks division from its [...]
Top stock picks for 2011 January 3, 2011 TRADING individual equities is always a risky business for contracts for difference (CFD) traders. An ill-considered, poorly executed trade will leave your fingers severely burnt and your account balance in the red. But get it right and you’re on track to rake in the profits. Even though equity strategists are cautiously optimistic about the prospects [...]
LVMH says luxury back in fashion April 13, 2010 LVMH, the world’s biggest luxury goods firm, has said consumers are starting to splash out on luxury goods again. The group reported a 13 per cent rise in like-for-like sales in the three months to 31 March fuelled by strong figures in the US and Europe. The Paris-based maker of Louis Vuitton handbags, Hennessy cognac, [...]
WHAT THE OTHER PAPERS SAY THIS MORNING December 8, 2010 FINANICAL TIMES FRESH WOES FOR DE LA RUE OVER FRENCH OFFER De La Rue first received an £820m takeover approach from François-Charles Oberthur Fiduciaire, a French banknote printing rival, as long as eight weeks ago, it emerged on Wednesday. The disclosure comes as the crisis-hit FTSE 250 company defends itself against criticism from some shareholders [...]
WHAT THE OTHER PAPERS SAY THIS MORNING December 8, 2010 FINANICAL TIMES FRESH WOES FOR DE LA RUE OVER FRENCH OFFER De La Rue first received an £820m takeover approach from François-Charles Oberthur Fiduciaire, a French banknote printing rival, as long as eight weeks ago, it emerged on Wednesday. The disclosure comes as the crisis-hit FTSE 250 company defends itself against criticism from some shareholders [...]