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Canada Goose said it saw revenues in the US region decline nearly 11% as demand for high-end goods by affluent shoppers sag

Estee Lauder, Canada Goose cut annual targets

Estee Lauder and Canada Goose Holdings have today cut their annual forecasts as the luxury goods companies grapple with weak demand in high-growth market China.

Business • 01 Nov 23

Prada is listed on the Hong Kong stock market

Prada revenues rise despite struggles in Americas

Italian fashion group Prada has today reported a 10% rise in third quarter revenues as a strong performance in Asia and Europe helped to compensate for weakness in the Americas.

Business • 31 Oct 23

Coty said its net revenue for the fourth quarter rose 16%, to $1.35 billion, topping an expectation of $1.31 billion

Coty forecasts downbeat annual profit

CoverGirl parent Coty has forecast annual profit below Wall Street expectations, signaling a hit from steeper input and labour expenses even as the company raised product prices to shield itself from higher costs and a strong dollar.

Business • 22 Aug 23

Hermes targets wealthier consumers with handbags like the coveted $10,000 plus Birkin model

Hermes defies luxury slowdown with strong sales

Sales at Birkin bag maker Hermes accelerated in the second quarter, showing the resilience of global demand for the group's high-end leather goods despite a clouded economic backdrop.

Business • 28 Jul 23

Burberry was boosted by a rebound in its largest market - China - after three years of Covid-19 restrictions

Burberry's Q4 sales jump 16% as China rebounds

British luxury fashion brand Burberry has today reported stronger-than-expected fourth quarter sales, boosted by a rebound in its largest market China following three years of Covid-19 restrictions.

Business • 18 May 23

Sales at the owner of brands such as Cartier and Van Cleef & Arpels grew 22% at constant rates

Richemont sales boosted by China bounceback

Luxury goods group Richemont has today beaten expectations after high demand from Chinese consumers for jewellery and watches boosted sales over the three months to March 31, sending shares to record highs.

Business • 12 May 23

LVMH's star designer label Louis Vuitton, by far the world's biggest, surpassed €20 billion in sales for the first time

LVMH's sales defy downturn as shoppers splurge

Luxury goods group LVMH's sales rose 9% in the fourth quarter as shoppers in Europe and the US splurged over the crucial Christmas season, helping partly to offset Covid disruptions in China.

Business • 27 Jan 23

Burberry's second-quarter performance lifted its first-half revenue to £1.35 billion, up 5% in constant exchange rates

Tourist spend and China helps Burberry beat forecasts

British luxury brand Burberry said quarterly comparable store sales rose 11%, a jump on its prior quarter and beating market forecasts, boosted by increased tourist spend in Europe and the easing of widespread Covid restrictions in China.

Business • 17 Nov 22

Rising prices have had little impact on middle and high-income households who have been happily spending on designer labels

Ralph Lauren, Capri beat revenue estimates

Ralph Lauren and Michael Kors-owner Capri Holdings have today beaten quarterly revenue estimates, underscoring the unwavering demand for luxury goods from high-income consumers amid decades-high inflation.

Business • 09 Aug 22

Overall sales at LVMH rose by 84% year-on-year in the second quarter on a like-for-like basis

LVMH shares edge higher as sales and profits rise

LVMH's shares eged higher today after the world's biggest luxury goods group posted higher sales and profits, driven by surging sales of fashion lines and handbags by Dior, Fendi and Louis Vuitton.

Business • 27 Jul 21

Richemont doubles dividend on jewellery performance

Cartier maker Richemont is proposing to double its dividend after net profit rose by a third in its fiscal year 2020/21, helped by a strong performance of its jewellery brands and as it benefited from net finance income.

Business • 21 May 21

Jay-Z bought Armand de Brignac in 2014 after falling out with the maker of his previous champagne of choice, Cristal

Moet Hennessy buys 50% stake in Jay-Z's champagne

LVMH, the world's biggest luxury goods company, has agreed to buy 50% of Armand de Brignac, the champagne brand owned by rapper Jay-Z.

Business • 22 Feb 21

LVMH and Tiffany announced a tie-up last year, but the deal appeared to fall apart in recent weeks

LVMH, Tiffany resume merger talks: reports

LVMH and Tiffany have revived talks to try to resuscitate their merger, which has been on shaky ground since late summer, a person close to the talks has said.

Business • 27 Oct 20

LVMH has reported a slump in both its second-quarter sales and profits due to Covid-19

Louis Vuitton owner flags turnaround after sales slump

LVMH's shares fell today, weighing on the broader European luxury goods sector, after the Covid-19 pandemic tore a hole into the Louis Vuitton owner's second-quarter results.

Business • 28 Jul 20

Burberry today reported total retail revenue of £257m in its first fiscal quarter - a drop of 48%

Burberry to cut 500 jobs as demand faces slow recovery

Luxury brand Burberry said today it would cut about 500 jobs globally, as it forecast no quick recovery in demand, particularly from high-spending tourists.

Business • 15 Jul 20

Chinese consumers account for between 33% and 35% of all luxury goods bought in the world in value terms

Coronavirus to take shine off global luxury business

The global luxury business is set to suffer from dwindling numbers of Chinese buyers, the world's biggest consumers of luxury goods, due to a lockdown within and on the country to prevent a coronavirus from spreading further.

Business • 07 Feb 20

Reports said today that France's Kering had held exploratory talks with the Italian group Moncler, famous for its puffy jackets

Moncler CEO says no concrete M&A option for now

The chief executive and top shareholder of Italy's puffer jacket maker Moncler said today there was no concrete tie-up option under consideration.

Business • 05 Dec 19

Louis Vuitton owner, LVMH, today posted higher than expected third quarter sales.

LVMH's strong Q3 numbers lift European luxury stocks

Shares in LVMH rose this morning, lifting up other European luxury goods stocks, after the Louis Vuitton owner posted higher-than-expected third quarter sales.

Business • 10 Oct 19

Burberry has maintained its forecast for broadly stable revenue and operating margin at constant exchange rates for the 2020 financial year

New designer's ranges help lift sales at Burberry

UK luxury brand Burberry has reported a pick-up in first quarter sales after it began shifting more new designs by creative chief Riccardo Tisci into its stores as part of a turnaround plan.

Business • 16 Jul 19

France's Hermes has posted a 15% rise in net profits for last year

Hermes sees no changes to sales trend as profits rise

Handbag maker Hermes, one of the luxury brands still riding high on strong demand from Asian clients, said today it had not observed any change in sales trends so far this year.

Business • 20 Mar 19

The maker of Cartier jewellery and watches said economic and geopolitical uncertainties were hitting customer sentiment

Richemont highlights volatile consumer demand

Luxury goods group Richemont said today that economic and geopolitical uncertainties were weighing on customer sentiment.

Business • 09 Nov 18

Kering's biggest label Gucci continued to defy expectations of a slowdown in the first quarter

Gucci fuels booming sales at luxury firm Kering

Booming sales growth at French luxury group Kering got even faster in the first quarter, as red-hot demand for its Gucci clothing and handbags was joined by other labels such as Balenciaga.

Business • 25 Apr 18

Louis Vuitton, owned by LVMH, is expanding its manufacturing plants for its high-margin handbags

Vuitton owner LVMH posts Q1 sales surge

Shares in France's LVMH rose over 5% to record highs today after the Louis Vuitton owner posted better than expected sales growth in the first quarter, helped by thriving Chinese appetite for luxury goods.

Business • 10 Apr 18

Prada said its new products and robust demand from Chinese consumers helped to pull it out of a 'grey area'

Prada shares soar 20% as firm returns to sales growth

Shares in Prada surged 20% today after the Italian luxury goods maker said it had stemmed a slide in sales in the second half of 2017 and it expected to see growth continue this year.

Business • 12 Mar 18

Hermes CEO Axel Dumas has stuck a note of caution for 2017

Luxury goods group Hermes delivers record profit margin

French luxury goods group Hermes said today it was starting 2017 on a solid footing after delivering record 2016 profits, providing further evidence of a broader recovery in the luxury goods industry.

Business • 22 Mar 17

Luxury Goods