Louis Vuitton owner LVMH on Wednesday reported better-than-expected revenue growth for the third quarter, in spite of months of unrest in Hong Kong that have put off tourists and forced luxury labels to shut stores.
The company set up from scratch in 2014 by luxury group Kering, the industry’s first to internalise its eyewear business, is about to top the €500 million revenue mark, and says it isn’t interested in Safilo.
Luxury brands from Prada to Cartier are counting the cost to their businesses of four months of unrest in Hong Kong that has kept tourists away and forced shops to shut, with upcoming results set to show the damage.
On Friday, Swiss group Richemont, the world’s second-largest luxury group, announced the acquisition of Italian jeweller Buccellati from Chinese group Gangtai Holding, without disclosing the value of the transaction.
The house of Cartier is celebrating its now-iconic La Panthère fragrance's fifth anniversary, with two limited-edition bottles. For the occasion, the diamond-cut vessel will be dressed in a solar golden hue.
Richemont, France's second largest luxury group, announced on Tuesday the departure of Eric Vallat, the head of its fashion and accessories division. Vallat will pursue professional opportunities outside of the group.
French firm Heuritech, a specialist in brand and product desirability analysis in fashion using AI tools, is setting its sights on international markets and the beauty sector after raising fresh funds worth €4 million.