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Italy fines Armani for 'misleading ethical' statements

Italy's competition watchdog has fined luxury goods giant Giorgio Armani €3.5m for misleading consumers over dangerous conditions for workers making its bags and accessories.

Business • 01 Aug

Hermes continues to see demand from rich shoppers for its $10,000 handbags

Hermes quarterly sales rise by 9% on strong demand

Birkin bag maker Hermes outpaced rivals with a 9% rise in quarterly sales reported today, showing continued appetite from rich shoppers for the French company's coveted $10,000 handbags.

Business • 30 Jul

LVMH's quarterly sales weaker than expected

Luxury bellwether LVMH has reported a slightly worse than expected 4% decline in quarterly sales, though CFO Cecile Cabanis expressed confidence for the rest of the year.

Business • 25 Jul

LVMH's Louis Vuitton store on 5th Avenue in New York

Luxury heavyweights struggle to shake off shopper fatigue

LVMH and Kering are expected to report another drop in quarterly sales, deepening investor worries about a prolonged downturn in the $400 billion luxury market as brands face the threat of hefty US import tariffs.

Business • 23 Jul

Hong Kong investigates Louis Vuitton data leak

Hong Kong's privacy watchdog said today it was investigating a data leak at Louis Vuitton affecting about 419,000 customers, just after a cyberattack on the luxury brand in South Korea in June.

Business • 21 Jul

Burberry reports smaller-than-expected dip in Q1 sales

Burberry's sales fell by a less-than-expected 1% in the first quarter, as it benefited in the Americas and Europe from clearer brand positioning leaning on its British heritage, the luxury group said today.

Business • 18 Jul

The Swiss company's sales jumped 10% year-on-year to €6.2 billion for the three months to the end of December

Cartier owner Richemont posts 10% jump in Q3 sales

Richemont, the owner of Cartier jewellery, said today it had beaten market expectations for third-quarter sales, in a positive sign for the high-end of the luxury sector over the all-important Christmas season.

Business • 16 Jan

The centre of the probe has been confirmed as Gucci's Milan headquarters, a former airplane factory in the eastern part of Italy's fashion capital

Luxury industry under scrutiny as EU probes Gucci

Europe's flourishing luxury goods industry was under scrutiny after European Union antitrust regulators inspected Gucci's Milan headquarters this week as part of an investigation spanning several countries and companies.

Business • 21 Apr 23

Luxury goods companies