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French leather goods maker Hermès Group’s revenue was up 6 percent in the first quarter of 2016, despite a challenging luxury landscape. Consolidated revenues for the house were 1.19 billion euro, or about $1.35 billion at current exchange rates. Even with…
French luxury-goods maker Kering SA reported first-quarter revenue that trailed analysts’ estimates as slowing tourism and the strong dollar weighed on demand for Gucci loafers and Bottega Veneta handbags. Sales climbed 2.7 percent to 2.72 billion euros…
Swiss luxury watch and jewellery retailer Kirchhofer is up for sale, Reuters reports. The family owned company, with annual sales of about US$302 million, is thought to produce a net profit of around $60 million annually. Reuters reported that three…
Italian luxury menswear brand Brioni has opened its first boutique in Cambodia, at the luxury Vattanac Capital Mall in the heart of Phnom Penh’s emerging business and financial district. It was launched with a private cocktail event featuring evening jackets…
With sales slipping in the industry’s largest market, the annual Watches & Wonders exhibition in Hong Kong may be cut back to every two years. High-end watchmakers are looking at a shift in strategy in Hong Kong in the face of the most severe downturn the…
Luxury retailer Louis Vuitton is suing three individuals in China for selling counterfeit items on Alibaba’s online shopping outlet Taobao. Damages of 250,000 RMB ($37,900) are being sought by the LVMH-owned company, says a statement on a Beijing court’s…
China’s number 2 eCommerce player JD.com has axed its consumer to consumer online storePaipai.com in a bid, it says, to cut sales of counterfeit goods. The store will be closed by December 31 and after a transitional period of three months, the company will…
Louis Vuitton is about to get smaller in China, and other luxury goods makers might follow as the heady days of expansion in that market are over. The French maker of monogrammed luggage is reviewing eight stores in second-tier cities, or about a fifth of the…
French-headquartered luxury brand owner Kering has unsuccessfully sought to fast track its legal suit against Alibaba after what it considered “greatly troubling” comments by Jack Ma. Kering, which owns Gucci and Yves Saint Laurent among others, filed suit…
Retail rents in Hong Kong have long been among the most expensive in the world, but for years the high operating costs have been worthwhile. Luxury brands could capture not only the highly sophisticated local shoppers, but also mainland Chinese and other…
Luxury international retail group Kering says it expects to be paying less rent in Hong Kong by the end of the year. Kering is the owner of a raft of luxury fashion brands, including Yves Saint Laurent, Bottega Veneta and Gucci, the latter of which comprises…
