LVMH: Shares in luxury giant hit record high amid warning it’s ‘firing last cartridge’ on back of China’s reopening January 17, 2023 Shares of luxury goods giant LVMH soared to a new record high of £703.35 (€795.7bn) this morning, bringing the company’s market capitalisation to £350bn. LVMH (Moët Hennessy Louis Vuitton) continues to thrive after China’s reopening at the start of the year proving to be a major boost for the company, which relies heavily on luxury [...]
LVMH boss promotes daughter Delphine Arnault to top position at Dior January 11, 2023 LVMH chairman and CEO Bernard Arnault has appointed his daughter Delphine Arnault as CEO of Christian Dior in a management shake-up. She succeeds Pietro Beccari, 55, who has headed Dior for nearly 12 years but has also been promoted. He is set to take over as CEO of Louis Vuitton from Michael Burke, who will [...]
FTSE 100 Close: Standard Chartered pops after shock takeover rumours emerge January 5, 2023 London’s FTSE 100 extended its hot start to 2023 today, helped along the way by Asia-focused Standard Chartered surging after news emerged rival lender First Abu Dhabi Bank has been mulling snapping up the firm. Its shares shot up around a fifth during early exchanges in the City today, before paring back to eventually close [...]
Sacre bleu! But complacency, not Paris, is the City’s real enemy November 14, 2022 Sacre bleu! Zut alors! The only possible reactions to news that Paris’ bourse has, by one measure, overtaken London’s stock exchange as Europe’s largest. The calculation sent a shockwave through the City’s lunch spots today, just about replacing the fear and dread associated with Thursday’s budget as the first topic of conversation. Could it be [...]
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 [...]
Sales soar for Dior owner LVMH as Chinese retail bounces back October 11, 2022 Dior owner LVMH smashed third quarter forecasts this evening, with business in China finally picking up thanks to Covid restrictions being eased. The luxury goods giant, which owns brands like Bulgari and Tiffany & Co, said sales climbed 19 per cent from the previous year to €19.8bn. The fashion and leather goods division were a [...]
Cartier owner Richemont calls for shareholders to block LVMH rival from joining board August 15, 2022 Cartier owner Richemont called for shareholders to snub the appointment of former LVMH executive Francesco Trapani to the board this morning, calling out his close connections to firm’s biggest rival. Calling him an “inappropriate” candidate, Richemont chairman Johann Rupert said in a letter to shareholders: “He is not independent, as he has a long history [...]
City Moves: Who’s switching jobs in the Square Mile? July 26, 2022 City A.M.’s Millie Turner provides a roundup of the most important hires and job moves across the City, every morning. Email citymoves@cityam.com to be featured. Irwin Mitchell Legal services firm Irwin Mitchell has bolstered its London office with a new intellectual property (IP) partner. Joining from White & Case, Marcus Collins has previously focused on international brand protection, trademark prosecution and IP [...]
Puttin’ on the Ritz: The business of selling luxury July 4, 2022 If you are a regular reader of this column, it is a fair bet that you enjoy—or at least have a healthy interest in—what are hoarily known as the finer things in life. I have written about cocktails, tailoring, members’ clubs, cigars, hats and a gallimaufry of luxury-associated subjects, unstinting in my recommendations and preferences. [...]
Stylish Stocks: Calvin and Tommy lead the way among best-performing fashion brands June 23, 2022 Even though people often associate the financial world with black suits, statistics, and little in the way of style, trading does have its fashionable side. Specifically, fashion stocks. From high-end brands such as Christian Dior and Ralph Lauren to high-street labels like Gap and Zara, retail shares are firmly on investors’ radar recently. Only yesterday, [...]