The News In Brief
Cucinelli Sees Operating Profit Increase 13% in 2024, Confirms Guidance
Italian luxury group Brunello Cucinelli claimed its operating profit had risen almost 13 percent in 2024 and expects sales growth of approximately 10 percent in the next two years.
LVMH Seeks to Clear Way for Bernard Arnault to Stay at the Helm Until 85
The company’s shareholders will vote on April 17 to extend Bernard Arnault’s tenure as CEO, following a proposal to raise the company’s maximum age limit for leadership positions.
Hugo Boss Sees Broadly Stable 2025 Sales, Flags Muted Demand in First Quarter
The company pointed to ongoing headwinds from macroeconomic and geopolitical uncertainty that have affected business performance since the start of the year.
Sephora Overhauls Asia Leadership After China Setback
The LVMH-owned speciality retailer has installed its chief executive officer, Guillaume Motte, to lead the company's Chinese operations after its president resigned at the end of last year amid muted sales.
Estée Lauder Companies Partners With India’s Ministry of Commerce to Advance Beauty Innovation
The partnership will see the expansion of ELC’s Beauty&You initiative, an entrepreneurial programme designed to discover and nurture the country’s next generation of beauty brands.
FTC Seeks Delay in Amazon Prime Case Over Resource Shortages
The Trump administration’s push to reduce federal budgets and severe resource constraints, including staff shortages and spending caps, have delayed the FTC’s trial against Amazon over its Prime subscription practices.
Golden Goose Reports Double-Digit Sales Growth in 2024
The private equity-backed luxury sneaker maker is focusing on maintaining momentum after abruptly shelving plans for an IPO last year, citing the luxury market’s volatility.
Canada to Announce C$29.8 Billion in Retaliatory Tariffs on US, Official Says
The move is the latest in an escalating the trade conflict between the two countries.
UK Splits With EU by Opting Against Snap Tariff Retaliation
The UK has reaffirmed its commitment to ongoing US trade talks despite being affected by President Donald Trump’s global steel and aluminium tariffs.
Zara Billionaire Takes €3 Billion in Dividends for First Time
Amancio Ortega is set to receive €3.1 billion in dividends from Inditex this year, marking the first time he has exceeded the €3 billion threshold.
Inditex Meets Fourth-Quarter Sales Forecast
Inditex sales were up just 4 percent in currency-neutral terms over the February 1 to March 10 period, compared to 11 percent growth a year ago.
Walmart Faces Heat From Beijing After Demand for Price Cuts
Several Chinese authorities, including the Ministry of Commerce, have met with the US retailer to learn about its negotiations over price cuts with suppliers in China.