The French luxury group Kering has once again grown strongly over the past three months, although its most important brand (Gucci) performed well below expectations.
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Swiss group Richemont, owner of luxury brands like Cartier, is acquiring Belgian handbag pioneer Delvaux, aiming to lead the leather goods label into the next phase of development.
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Despite a sharp decline during the first half of the year due to the Covid crisis, Swiss luxury group Richemont managed to curb the damage well over the past financial year.
Luxury brand Dolce & Gabbana is denying rumours that it is negotiating with French group Kering. Instead, CEO Alfonso Dolce hopes for and "broader Italian project".
A new, huge merger in the luxury sector was on the cards between French Kering and Swiss Richemont, but the latter is said to have rejected the offer.
Luxury platform Farfetch welcomes two strategically important shareholders: Alibaba and Richemont together invest 1.1 billion dollar in the company. It is a first step towards consolidation in the online luxury industry.
The threat of a possible corona epidemic in China has caused a shockwave in European luxury goods stocks. With the Chinese New Year approaching, the coronavirus could heavily impact these brands’ turnover.
Swiss luxury group Richemont has achieved another strong quarterly growth, but there are worrying signs from Japan and Hong Kong.
French luxury group Richemont has seen its turnover increase by 12 % in the first quarter of the current financial year, as its online activities grew spectacularly.
Swiss luxury group Richemont is going to offer its products on the booming Chinese market through a joint venture with Alibaba. Subsidiary Yoox Net-a-porter gains access to a billion consumers this way, while Alibaba basks in the luxurious glow of the Swiss.
Swiss luxury goods producer Richemont has appointed Jérôme Lambert as its CEO, not even two years after the position was abolished to give each brand its own boss.
The Italian Bureau of Competition has approved Swiss Richemont’s acquisition of Italian fashion webshop Yoox Net-a-Porter. The full bid, yet to be accepted, values the company at 2.7 billion euro.
Online luxury retailer Yoox Net-A-Porter has shown increased sales in the Middle East across 2017, but its profit did suffer. Nevertheless, the fashion retailer believes it will reach its five-year target.
Swiss luxury group Richemont proposed to obtain a majority stake in online retailer Yoox Net-a-Porter. The move is a way to implement its online strategy faster.
French luxury group Richemont achieved a 7 % third quarter revenue increase. Unfortunately, exchange rate fluctuations eliminated nearly everything.
Luxury firm Richemont says it had an exceptional first six months. Turnover grew 10 % but profit even shot up 80 % compared to the year before.