Mike Ashley’s Frasers Says It’s Taken Control of Hugo Boss
The British retail group has pushed its stake in the German apparel brand above 50 percent in a move that will turn Hugo Boss into a subsidiary of Frasers.
Bloomberg
Luxury
Paris Luxury Boutiques Battered by Riots Brace for Unrest
The impact of the rioting is likely to ripple across the tourism industry, which would deepen luxury’s slump.
Beauty
GLP-1 Boom Fuels Dangerous Black Market for Smuggled Weight-Loss Drugs in Brazil
One in three Brazilians is interested in taking the drugs if the price were lower, but most can’t afford them or don’t qualify for a prescription.
Luxury
Opinion: Ray-Ban’s Billionaire Family Drama Is Hitting New Lows
There are car crash interviews, and then there is Leonardo Maria Del Vecchio’s podcast appearance this week, writes Andrea Felsted.
Luxury
Luxury’s Problem With Unsold Stock Comes Under the Microscope
New European regulations will soon force high-end brands to reveal all the stock they shred and burn to keep retail values high.
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The News in Brief
UK Retail Sales Fall 0.4% in September, More Than Forecast
Sales fell in September as above-average temperatures hit demand for autumn clothing.
L’Oréal Sales Beat Expectations as Premium Products Surge
The French giant handily beat expectations on strong demand for hair products at salons and premium skincare from its dermatological division.
Hermès Sales Miss Estimates as Chinese Shoppers Curb Spending
The French leather goods powerhouse reported no sales growth in Asia-Pacific excluding Japan, its biggest market, last quarter.
Vietnam’s Top Jewellery Retailer to Stop Diamond Buybacks
Phu Nhuan Jewelry JSC is moving away from its policy of repurchasing diamonds at nearly full value after a smuggling probe shook confidence in the diamond market.
Swiss Watch Exports Rise for Fifth Month on US, Europe Demand
Total shipments rose 2.7 percent to $23.6 billion in the first nine months of the year, the Federation of the Swiss Watch Industry said Tuesday.
EssilorLuxottica Sales Lifted by Traditional Frames, Lenses
Revenue rose 7.2 percent, beating analysts' estimates.
Adidas Lifts Outlook on US Tariff Refund, Strong Demand
Chief executive officer Bjoern Gulden wants the company’s local staff to jump on trends quickly and cater to customers in their markets to drive demand.