LVMH sales miss estimates as Chinese market slows
By Reuters Published Jul 24, 2024 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 …
Luca Solca
New Burberry chief faces tough choices on high-end ambitions
By Reuters Published Jul 20, 2024 Burberry’s new boss Joshua Schulman faces an immediate strategy dilemma. On Monday, the former head of Coach was appointed to replace Jonathan Akeroyd, becoming the fourth CEO …
Luxury labels slash prices 50% to lure wary Chinese shoppers
By Bloomberg Published Jun 14, 2024 Some luxury labels are discounting their products to an unprecedented degree in China, reflecting a growing panic over unsold inventory as local consumers pull …
Burberry’s endless luxury turnaround is a very British problem
By Bloomberg Published May 19, 2024 Just about every chief executive who has run Burberry Group Plc has characterized the maker of the pricey trench coats with checked linings as …
Kering shares drop after Gucci slump prompts profit warning
By Bloomberg Published Apr 24, 2024 Kering SA shares tumbled after the luxury group warned that profit will plunge in the first half of the year on slumping sales at …
Billionaire Pinaults fight to pull Gucci off the discount rack
By Bloomberg Published Apr 23, 2024 On a recent Friday afternoon, shoppers at a Gucci boutique waded through heaps of heavily discounted, past-season merchandise: Yellow pumps, furry slippers, flamboyant jackets and bright green …
China’s tepid rebound has left luxury shops relying on US demand
By Bloomberg Published Feb 9, 2024 Just over a year after China ended its Covid-Zero policy, the expected bounceback in spending on high-end consumer goods has failed to live up …
net profit down 17% and sales down 4% in 2023
By AFP Published Feb 8, 2024 Luxury group Kering announced on Thursday that net profit would fall by 17% in 2023, to €2.98 billion, and that sales would fall by …
Swiss watchmaker says it’s time to make luxury sustainable
By AFP Published Feb 6, 2024 Vegetal leather and recycled stainless steel melted in a solar oven are among the materials a Geneva watch brand is using in its quest …
Battered luxury stocks face fresh setback Ffom Burberry warning
By Bloomberg Published Jan 13, 2024 Luxury stocks are off to a rough start this year, adding to their 2023 drop, with Burberry Group Plc’s surprise profit warning crushing hopes …