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Kering, which owns Gucci, Saint Laurent and Balenciaga, said it planned to buy back up to 1 percent of its share capital over a 12-month period. According to the luxury-goods group, the total amount of the share buyback agreement would not exceed €300 million…
Last month, LVMH named Guillaume Henry new Creative Director of Jean Patou. Guillaume Henry is coming back to Fashion Week, resurrecting the Jean Patou maison with LVMH’s backing. The former creative director of Carven and Nina Ricci was handpicked by LVMH’s…
Salvatore Ferragamo has officially found its new chief executive officer. The luxury Italian brand’s CEO and general manager, Micaela Le Divelec Lemmi, will relinquish her dual title to take on the sole position of CEO in November. The general manager…
LVMH has tapped Stéphane Bianchi, the former CEO of the cosmetics firm Yves Rocher, to succeed Jean-Claude Biver as head of LVMH’s watch division. Biver, who recently turned 69, stepped down from his operational duties as president of the LVMH watch division…
LVMH Moet Hennessy Louis Vuitton boosted revenues by 10 per cent to €33.1 billion in the first nine months of this year. Organic sales grew 11 per cent compared to the same period last year and by 13 per cent after excluding the impact of the closed DFS…
Luxury conglomerate LVMH said it plans numerous product launches before the end of the year as it races to stay ahead of fast-growing competitors like Kering SA’s Gucci and closely held Chanel. Second-quarter sales rose 11 percent, the Paris-based owner of…
French luxury conglomerate LVMH Moet Hennessy Louis Vuitton has had a strong start to the year despite the impact of the termination of its Hong Kong International Airport duty-free business at the end of last year. Its revenue grew by 10 per cent for the…
French couturier Hubert de Givenchy, a pioneer of ready-to-wear, has died at the age of 91. Paying homage to its founder, the house of Givenchy says he was “a major personality of the world of French haute couture and a gentleman who symbolised Parisian chic…
Tmall will this year work with top beauty brands such as Estee Lauder and Lancome to help them surpass RMB 1 billion (US$157.9 million) in annual sales on the platform. The increased focus on the beauty sector will also see Tmall deliver an updated suite of…
LVMH, the parent company of brands including Louis Vuitton, Dior and CÉLINE, announced plans for its Luxury Ventures initiative in 2017 with the aim of acquiring minority stakes in emerging luxury brands. The latest brand to get backing from the programme is…
A worker intently studies an aluminium suitcase on the assembly line at the Rimowa factory in Cologne. He opens and closes it repeatedly, lays it flat, pounds a hinge with his mallet, stands it on its wheels and starts over again. Until this bag is perfectly…
LVMH Moët Hennessy Louis Vuitton, the world’s leading luxury products group, announced record sales of 42.6 billion Euros in 2017, up 13% over the previous year, as all divisions turned in strong performances. Its net profit popped 29%. The news sent LVMH‘s…
It has been another record year for luxury products group LVMH Moet Hennessy Louis Vuitton. Revenue increased by 13 per cent year on year to reach €42.6 billion (US$52.9 billion), while organic revenue growth was 12 per cent. All business groups recorded…
Hong Kong’s Affinity Equity Partners has joined a bidding scramble for Korean budget fashion and cosmetics brand Stylenanda. Also in the race are LVMH-backed L Catterton, L’Oreal and Shiseido, with the bid worth up to KW500 billion (US$467 million), insiders…
Celine creative director Phoebe Philo has told her team she is leaving the French luxury leather brand after its autumn presentation. There were reports she could join her former chief executive Marco Gobbetti at Burberry when chief creative officer…
Céline, the only LVMH-owned fashion label without its own e-commerce business, will start offering online sales from a new website next week, two sources close to the matter said. The French brand joins a growing line of luxury goods players belatedly pushing…
