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 25
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 25
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
Burberry puts focus back on trench coats in new plan Burberry will put the focus back on its core trench coats and scarves, be less ambitious with prices for bags and shoes, and use its British heritage appeal to win back customers, the struggling luxury brand said today in a strategy update. Business • 14 Nov 24
Burberry puts focus back on trench coats in new plan Burberry will put the focus back on its core trench coats and scarves, be less ambitious with prices for bags and shoes, and use its British heritage appeal to win back customers, the struggling luxury brand said today in a strategy update. Business • 14 Nov 24
Global luxury sales to fall 2% in 2024 - Bain Sales of personal luxury goods are set to fall 2% this year, making it one of the weakest on record, with price hikes and economic uncertainty shrinking the industry's customer base, according to consultancy Bain & Company. Business • 13 Nov 24
Global luxury sales to fall 2% in 2024 - Bain Sales of personal luxury goods are set to fall 2% this year, making it one of the weakest on record, with price hikes and economic uncertainty shrinking the industry's customer base, according to consultancy Bain & Company. Business • 13 Nov 24
Cartier-owner Richemont's sales dip on China downturn Cartier jewellery owner Richemont has today reported a dip in quarterly sales, as the luxury goods group largely offset tougher conditions in China with growth elsewhere. Business • 08 Nov 24
Cartier-owner Richemont's sales dip on China downturn Cartier jewellery owner Richemont has today reported a dip in quarterly sales, as the luxury goods group largely offset tougher conditions in China with growth elsewhere. Business • 08 Nov 24
Coty sees annual profit at low end of forecast Coty has said it expects annual profit to come in at the low end of its forecast, as weak demand for beauty products in major markets such as the US and Australia offset gains in the fragrance segment. Business • 07 Nov 24
Coty sees annual profit at low end of forecast Coty has said it expects annual profit to come in at the low end of its forecast, as weak demand for beauty products in major markets such as the US and Australia offset gains in the fragrance segment. Business • 07 Nov 24
Burberry's shares jump on Moncler bid report Shares in Burberry rose as much as 8% today after reports that Italy's Moncler was considering a bid for the London-listed luxury groupto create an outdoor clothing specialist giant. Business • 04 Nov 24
Burberry's shares jump on Moncler bid report Shares in Burberry rose as much as 8% today after reports that Italy's Moncler was considering a bid for the London-listed luxury groupto create an outdoor clothing specialist giant. Business • 04 Nov 24
Estee Lauder withdraws annual forecasts, cuts dividend Estee Lauder has today pulled back its 2025 sales and profit forecasts on reduced spending for its luxury makeup and fragrances in major markets, mainly China, sending its shares tumbling 23% before the bell on Wall Street. Business • 31 Oct 24
Estee Lauder withdraws annual forecasts, cuts dividend Estee Lauder has today pulled back its 2025 sales and profit forecasts on reduced spending for its luxury makeup and fragrances in major markets, mainly China, sending its shares tumbling 23% before the bell on Wall Street. Business • 31 Oct 24
Hermes continues to outshine rivals with Q3 sales up 11% Birkin bag maker Hermes has posted a hefty rise in third-quarter sales, continuing to outshine rivals hit hard by a downturn in China as its luxury handbags lure wealthy shoppers. Business • 24 Oct 24
Hermes continues to outshine rivals with Q3 sales up 11% Birkin bag maker Hermes has posted a hefty rise in third-quarter sales, continuing to outshine rivals hit hard by a downturn in China as its luxury handbags lure wealthy shoppers. Business • 24 Oct 24
LVMH sales down as China demand for luxury goods worsens French luxury giant LVMH reported a 3% fall in third-quarter sales last night, undershooting estimates in its first decline in quarterly sales since the pandemic as demand in China and Japan weakened, likely exacerbating investor worries. Business • 16 Oct 24
LVMH sales down as China demand for luxury goods worsens French luxury giant LVMH reported a 3% fall in third-quarter sales last night, undershooting estimates in its first decline in quarterly sales since the pandemic as demand in China and Japan weakened, likely exacerbating investor worries. Business • 16 Oct 24
Richemont announces deal to sell Yoox Net-A-Porter Cartier owner Richemont has agreed to sell its Yoox Net-A-Porter (YNAP) online fashion and accessories business to Mytheresa, ending the search for a new owner of loss-making YNAP after the collapse of a previous deal last year. Business • 07 Oct 24
Richemont announces deal to sell Yoox Net-A-Porter Cartier owner Richemont has agreed to sell its Yoox Net-A-Porter (YNAP) online fashion and accessories business to Mytheresa, ending the search for a new owner of loss-making YNAP after the collapse of a previous deal last year. Business • 07 Oct 24
Italy's Moncler shares trade higher after LVMH deal Shares in Moncler and LVMH were sharply higher this morning after the owner of Louis Vuitton and Moet & Chandon champagne invested in the Italian outerwear specialist, in a deal which will give it a seat on the board. Business • 27 Sep 24
Italy's Moncler shares trade higher after LVMH deal Shares in Moncler and LVMH were sharply higher this morning after the owner of Louis Vuitton and Moet & Chandon champagne invested in the Italian outerwear specialist, in a deal which will give it a seat on the board. Business • 27 Sep 24
LVMH's Dior lagged on supply chain disclosure LVMH's second-largest fashion brand Dior was until last month behind on disclosures required by UK law about working conditions in its supply chain, and made outdated statements on its website of a third-party certification that it terminated more than a year ago, Reuters has found. Business • 06 Aug 24
LVMH's Dior lagged on supply chain disclosure LVMH's second-largest fashion brand Dior was until last month behind on disclosures required by UK law about working conditions in its supply chain, and made outdated statements on its website of a third-party certification that it terminated more than a year ago, Reuters has found. Business • 06 Aug 24
LVMH sales miss estimates as Chinese market slows LVMH sales growth slowed in the second quarter as Chinese shoppers reined in spending on high-end fashion at home, even as demand in Western markets slightly picked up. Business • 24 Jul 24
LVMH sales miss estimates as Chinese market slows LVMH sales growth slowed in the second quarter as Chinese shoppers reined in spending on high-end fashion at home, even as demand in Western markets slightly picked up. Business • 24 Jul 24
Hugo Boss cuts full year sales guidance over weak demand German fashion house Hugo Boss has cuts its sales and earnings forecasts for the year, citing weakening global consumer demand, especially in China and the UK, sending its shares down as much as 10%. Business • 16 Jul 24
Hugo Boss cuts full year sales guidance over weak demand German fashion house Hugo Boss has cuts its sales and earnings forecasts for the year, citing weakening global consumer demand, especially in China and the UK, sending its shares down as much as 10%. Business • 16 Jul 24
Burberry axes CEO and dividend as it warns on profit British luxury group Burberry has today sacked its CEO and named former Coach boss Joshua Schulman to replace him, in the latest change at the top as it promises a "more familiar" look to help with its plan to move further upmarket. Business • 15 Jul 24
Burberry axes CEO and dividend as it warns on profit British luxury group Burberry has today sacked its CEO and named former Coach boss Joshua Schulman to replace him, in the latest change at the top as it promises a "more familiar" look to help with its plan to move further upmarket. Business • 15 Jul 24
LVMH deepens partnership with Alibaba in China French luxury group LVMH will deepen its partnership with Alibaba to leverage the firm's cloud and artificial intelligence capacities and boost its presence in China, the companies said today. Business • 22 May 24
LVMH deepens partnership with Alibaba in China French luxury group LVMH will deepen its partnership with Alibaba to leverage the firm's cloud and artificial intelligence capacities and boost its presence in China, the companies said today. Business • 22 May 24
Kering shares drop over 9% after profit warning Shares in French luxury group Kering fell by as much as 9.3% this morning, to their lowest level in over six years, as the market digested news of a likely 40%-45% plunge in first-half operating profit. Business • 24 Apr 24
Kering shares drop over 9% after profit warning Shares in French luxury group Kering fell by as much as 9.3% this morning, to their lowest level in over six years, as the market digested news of a likely 40%-45% plunge in first-half operating profit. Business • 24 Apr 24
LVMH sales growth slips on luxury spending slowdown LVMH's sales slowed in the first quarter as rising prices prompted more shoppers who aspire to own its luxury labels to hold back on splashing out thousands of dollars on handbags and other accessories. Business • 17 Apr 24
LVMH sales growth slips on luxury spending slowdown LVMH's sales slowed in the first quarter as rising prices prompted more shoppers who aspire to own its luxury labels to hold back on splashing out thousands of dollars on handbags and other accessories. Business • 17 Apr 24
