Kering warns of profit plunge as Gucci turnaround sputters
By Bloomberg Published Jul 24, 2024 Kering SA warned that its profit is set to tumble in the second half of the year as luxury demand cools and turnaround efforts …
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Sergio Rossi hires Paul Andrew as creative director
Sergio Rossi has announced the arrival of a renowned designer to head up its collections. The Italian luxury footwear label, owned by the Chinese Lanvin Group, formerly known as Fosun …
LVMH shows the luxury sector is in pain
By Bloomberg Published Jul 24, 2024 We’re all drinking less champagne as the world becomes a scarier place. That was the message from LVMH Moet Hennessy Louis Vuitton SE. It underlines …
LVMH shares slump 6% after missing Q2 estimates
By Reuters Published Jul 24, 2024 Shares in French luxury giant LVMH fell more than 6% on Wednesday and were on track for their biggest one-day drop since October 2023 …
Estee Lauder names Akhil Shrivastava as CFO
Estee Lauder announced on Tuesday the appointment of Akhil Shrivastava to the role of chief financial officer, effective November 1. He will succeed Tracey Travis, following her decision to retire …
Loewe is back as world’s hottest label, On grows fast
LVMH’s results may not have set the world alight in the latest quarter but there was one piece of good news on Wednesday for April to June — the latest …
Nike hires former Salesforce executive as CIO in tech division shakeup
By Bloomberg Published Jul 24, 2024 Nike Inc. has hired a former Salesforce Inc. executive in a new role to lead efforts to modernize technology infrastructure for the world’s largest …
LVMH to intensify audits and controls at suppliers, says CFO
By Reuters Published Jul 24, 2024 LVMH plans to speed up its supply chain strategy and strengthen audits and controls, chief financial officer Jean-Jacques Guiony said on Tuesday, in the …
Viktor & Rolf debuts in Amazon Premium Beauty Store
Viktor & Rolf Fragrances has officially launched in the Amazon Premium Beauty Store, bringing the brand’s fragrances to a broader audience. Viktor & Rolf debuts in Amazon Premium Beauty Store. …
China’s slowdown is taking a rising toll on European profits
By Bloomberg Published Jul 24, 2024 From luxury brands to car makers, European companies are taking a hit from China’s slowdown, and more trouble is coming for businesses heavily reliant …