Loro Piana in court administration on labour exploitation An Italian court has placed LVMH group's high-end Italian cashmere firm Loro Piana under judicial administration for a year after allegedly uncovering worker abuse inside its supply chain, in the latest in a string of cases that have tainted the image of Italy's luxury brands. Business • 14 Jul
Loro Piana in court administration on labour exploitation An Italian court has placed LVMH group's high-end Italian cashmere firm Loro Piana under judicial administration for a year after allegedly uncovering worker abuse inside its supply chain, in the latest in a string of cases that have tainted the image of Italy's luxury brands. Business • 14 Jul
Cartier owner Richemont sales up 7% as jewellery shines Cartier owner Richemont has today reported a slightly better-than-expected 7% rise in quarterly sales as brisk luxury jewellery business in the US partly offset weaker demand for watches in Asia. Business • 16 May
Cartier owner Richemont sales up 7% as jewellery shines Cartier owner Richemont has today reported a slightly better-than-expected 7% rise in quarterly sales as brisk luxury jewellery business in the US partly offset weaker demand for watches in Asia. Business • 16 May
Burberry to cut 20% of global workforce, shares jump Burberry shares surged 18% today after the British luxury brand announced plans to shed 1,700 jobs or around a fifth of its global workforce to cut costs to help revive its performance. Business • 14 May
Burberry to cut 20% of global workforce, shares jump Burberry shares surged 18% today after the British luxury brand announced plans to shed 1,700 jobs or around a fifth of its global workforce to cut costs to help revive its performance. Business • 14 May
Kering's Q1 sales drop more than expected on Gucci crisis Shares of Kering dropped 5.42% in opening trade today after the company reported first-quarter sales below analysts' expectations. Business • 24 Apr
Kering's Q1 sales drop more than expected on Gucci crisis Shares of Kering dropped 5.42% in opening trade today after the company reported first-quarter sales below analysts' expectations. Business • 24 Apr
Arnault can remain as LVMH CEO until he is 85 - AGM LVMH shareholders have today voted to allow Bernard Arnault, 76, to remain at the helm of the world's largest luxury group until he is 85. Business • 17 Apr
Arnault can remain as LVMH CEO until he is 85 - AGM LVMH shareholders have today voted to allow Bernard Arnault, 76, to remain at the helm of the world's largest luxury group until he is 85. Business • 17 Apr
Hermes will raise US prices to fully offset Trump tariffs France's Hermes will fully shift the burden of tariffs in the US to its wealthy clientele, the company said today, as it posted first-quarter sales that slightly missed market expectations. Business • 17 Apr
Hermes will raise US prices to fully offset Trump tariffs France's Hermes will fully shift the burden of tariffs in the US to its wealthy clientele, the company said today, as it posted first-quarter sales that slightly missed market expectations. Business • 17 Apr
LVMH overtaken by Hermes in market capitalisation LVMH lost its position today as Europe's largest luxury company in terms of market capitalisation after being overtaken by rival Hermes due to investor pessimism after disappointing first-quarter revenue from the sector bellwether. Business • 15 Apr
LVMH overtaken by Hermes in market capitalisation LVMH lost its position today as Europe's largest luxury company in terms of market capitalisation after being overtaken by rival Hermes due to investor pessimism after disappointing first-quarter revenue from the sector bellwether. Business • 15 Apr
Italy's Prada agrees to buy fashion rival Versace Prada has struck a deal to buy smaller rival Versace from Capri Holdings in a move to unite two of the biggest names in Italian fashion. Business • 10 Apr
Italy's Prada agrees to buy fashion rival Versace Prada has struck a deal to buy smaller rival Versace from Capri Holdings in a move to unite two of the biggest names in Italian fashion. Business • 10 Apr
Porsche deliveries fall on weaker demand in China, Europe German sports car maker Porsche delivered 8% fewer vehicles globally in the first quarter, it said today, hit by declining demand in China and Europe. Business • 08 Apr
Porsche deliveries fall on weaker demand in China, Europe German sports car maker Porsche delivered 8% fewer vehicles globally in the first quarter, it said today, hit by declining demand in China and Europe. Business • 08 Apr
Luxury shares take a hit from new US tariffs Shares in European luxury companies dropped today after US President Donald Trump announced new tariffs, including on goods from the European Union and Switzerland. Business • 03 Apr
Luxury shares take a hit from new US tariffs Shares in European luxury companies dropped today after US President Donald Trump announced new tariffs, including on goods from the European Union and Switzerland. Business • 03 Apr
Donatella Versace steps down as brand's creative officer Donatella Versace is to step down as chief creative officer of the Versace brand after almost three decades in the role, owner Capri Holdings said today. Business • 13 Mar
Donatella Versace steps down as brand's creative officer Donatella Versace is to step down as chief creative officer of the Versace brand after almost three decades in the role, owner Capri Holdings said today. Business • 13 Mar
Prada profit surges 21% amid speculation over Versace bid Italian luxury group Prada has today reported 21% growth in operating profit last year, in line with analysts' forecasts, amid speculation about a potential acquisition of smaller rival Versace. Business • 04 Mar
Prada profit surges 21% amid speculation over Versace bid Italian luxury group Prada has today reported 21% growth in operating profit last year, in line with analysts' forecasts, amid speculation about a potential acquisition of smaller rival Versace. Business • 04 Mar
Prada moves nearer to $1.6 billion deal for Versace Italian luxury group Prada is moving closer to a deal to buy Versace from upmarket fashion group Capri Holdings after agreeing to a price of nearly €1.5 billion, Bloomberg News has reported. Business • 03 Mar
Prada moves nearer to $1.6 billion deal for Versace Italian luxury group Prada is moving closer to a deal to buy Versace from upmarket fashion group Capri Holdings after agreeing to a price of nearly €1.5 billion, Bloomberg News has reported. Business • 03 Mar
Shares in Gucci-owner Kering rise on turnaround hopes Luxury group Kering's fourth quarter sales were hit by a continued slump at its main brand Gucci, it said today, but a slight improvement in the group's performance in major markets China and the US buoyed investors. Business • 11 Feb
Shares in Gucci-owner Kering rise on turnaround hopes Luxury group Kering's fourth quarter sales were hit by a continued slump at its main brand Gucci, it said today, but a slight improvement in the group's performance in major markets China and the US buoyed investors. Business • 11 Feb
Capri's bleak forecast shows slow luxury demand recovery Capri Holdings has today forecast revenue for the year as well as fiscal 2026 below Wall Street estimates, as the Michael Kors owner grapples with slowing demand for luxury goods, especially in the Americas and Asia. Business • 05 Feb
Capri's bleak forecast shows slow luxury demand recovery Capri Holdings has today forecast revenue for the year as well as fiscal 2026 below Wall Street estimates, as the Michael Kors owner grapples with slowing demand for luxury goods, especially in the Americas and Asia. Business • 05 Feb
Mulberry chalks out profitability plan with UK, US focus Mulberry Group is seeking to win back customers in Britain, build a digital presence in the US and scale back in China, CEO Andrea Baldo said as he outlined his strategy to turn around the struggling luxury handbag maker. Business • 30 Jan
Mulberry chalks out profitability plan with UK, US focus Mulberry Group is seeking to win back customers in Britain, build a digital presence in the US and scale back in China, CEO Andrea Baldo said as he outlined his strategy to turn around the struggling luxury handbag maker. Business • 30 Jan
LVMH touts good start to 2025 but Q4 results underwhelm LVMH has made a good start to 2025, CEO Bernard Arnault said last night, after the luxury conglomerate posted a slight rise in fourth-quarter sales, though analysts cautioned it may still fall short of heightened market expectations after recent share gains. Business • 29 Jan
LVMH touts good start to 2025 but Q4 results underwhelm LVMH has made a good start to 2025, CEO Bernard Arnault said last night, after the luxury conglomerate posted a slight rise in fourth-quarter sales, though analysts cautioned it may still fall short of heightened market expectations after recent share gains. Business • 29 Jan
Burberry's quarterly sales drop less than feared Burberry has today reported a smaller than expected 4% drop in quarterly comparable store sales, helped by a stronger Christmas season in the US, an encouraging step in the British luxury brand's turnaround efforts. Business • 24 Jan
Burberry's quarterly sales drop less than feared Burberry has today reported a smaller than expected 4% drop in quarterly comparable store sales, helped by a stronger Christmas season in the US, an encouraging step in the British luxury brand's turnaround efforts. Business • 24 Jan
Markets rode AI, interest rate roller coaster in 2024 Despite political upheavals, stock markets and bitcoin smashed records in 2024, fuelled by investor enthusiasm for AI, falling interest rates, and hopes of tax cuts. Business • 31 Dec 24
Markets rode AI, interest rate roller coaster in 2024 Despite political upheavals, stock markets and bitcoin smashed records in 2024, fuelled by investor enthusiasm for AI, falling interest rates, and hopes of tax cuts. Business • 31 Dec 24
Luxury brands consider accepting crypto payments Bitcoin's soaring value has caught the attention of high-end fashion brands and retailers, prompting further interest in offering cryptocurrencies as a means of payment to tap in to fresh pockets of wealth and build loyalty with crypto investors. Business • 18 Dec 24
Luxury brands consider accepting crypto payments Bitcoin's soaring value has caught the attention of high-end fashion brands and retailers, prompting further interest in offering cryptocurrencies as a means of payment to tap in to fresh pockets of wealth and build loyalty with crypto investors. Business • 18 Dec 24
LVMH chief Bernard Arnault to testify in France spy trial LVMH Chairman and CEO Bernard Arnault is set to testify at a Paris court in the trial of France's former spy chief Bernard Squarcini, a case that has cast light on the lengths to which the world's biggest luxury group has allegedly gone to protect its image. Business • 28 Nov 24
LVMH chief Bernard Arnault to testify in France spy trial LVMH Chairman and CEO Bernard Arnault is set to testify at a Paris court in the trial of France's former spy chief Bernard Squarcini, a case that has cast light on the lengths to which the world's biggest luxury group has allegedly gone to protect its image. Business • 28 Nov 24
Aston Martin raises new capital, warns on profit Shares in Aston Martin fell as much as 9% to a more than two-year low today after the British luxury carmaker warned that annual profit could fall as much as 11% on delivery delays and said it would raise new capital. Business • 27 Nov 24
Aston Martin raises new capital, warns on profit Shares in Aston Martin fell as much as 9% to a more than two-year low today after the British luxury carmaker warned that annual profit could fall as much as 11% on delivery delays and said it would raise new capital. Business • 27 Nov 24
Chanel family matriarch dies aged 99 Eliane Heilbronn, mother of the secretive owners of luxury group Chanel, has died aged 99, the company said today. Business • 25 Nov 24
Chanel family matriarch dies aged 99 Eliane Heilbronn, mother of the secretive owners of luxury group Chanel, has died aged 99, the company said today. Business • 25 Nov 24
Mulberry to streamline operations after 19% revenue fall Mulberry Group said it was taking steps to streamline its operations and improve margins under its new CEO Andrea Baldo after the British luxury brand reported its first-half loss widened from a year ago. Business • 19 Nov 24
Mulberry to streamline operations after 19% revenue fall Mulberry Group said it was taking steps to streamline its operations and improve margins under its new CEO Andrea Baldo after the British luxury brand reported its first-half loss widened from a year ago. Business • 19 Nov 24
Coach parent Tapestry ends $8.5 billion deal for Capri Tapestry is terminating its $8.5 billion deal to buy Michael Kors owner Capri following a legal hurdle, the companies said today, ending their effort to create a US luxury giant to compete with major European players. Business • 14 Nov 24
Coach parent Tapestry ends $8.5 billion deal for Capri Tapestry is terminating its $8.5 billion deal to buy Michael Kors owner Capri following a legal hurdle, the companies said today, ending their effort to create a US luxury giant to compete with major European players. Business • 14 Nov 24
