Bernard Arnault Joins X as LVMH CEO Fights Off Rumours of Family Disunity
French newspaper Le Monde published a six-part series last week on the tycoon, including alleged tensions among his family members driven by succession.
consumer-spending
Luxury
Don’t Believe the Hype: Exclusivity Still Matters
Demand for luxury fashion is deeply rooted in exclusivity. The rise of millennials and the industry’s recent use of inclusivity in its marketing narratives does not change this, argues Luca Solca.
Don’t Believe the Hype: Exclusivity Still Matters
Demand for luxury fashion is deeply rooted in exclusivity. The rise of millennials and the industry’s recent use of inclusivity in its marketing narratives does not change this, argues Luca Solca.
Retail
US Retail Sales Rise More Than Expected in August
Consumer spending, which accounts for more than two-thirds of the economy, increased at a 4.7 percent annualised rate in the second quarter, the most in four and a half years.
US Retail Sales Rise More Than Expected in August
Consumer spending, which accounts for more than two-thirds of the economy, increased at a 4.7 percent annualised rate in the second quarter, the most in four and a half years.
Retail
UK Consumer Spending Growth in 2019 to Be Slowest in Six Years
Consumer spending benefited from robust employment growth and a strong pick-up in real earnings growth in the second half of 2018 and early 2019, but the outlook is now weaker.
UK Consumer Spending Growth in 2019 to Be Slowest in Six Years
Consumer spending benefited from robust employment growth and a strong pick-up in real earnings growth in the second half of 2018 and early 2019, but the outlook is now weaker.
News & Analysis
US Consumer Spending Hasn’t Changed Much in 30 Years, With One Exception
"While retail prices overall have risen in the US, clothing hasn’t kept pace."
US Consumer Spending Hasn’t Changed Much in 30 Years, With One Exception
"While retail prices overall have risen in the US, clothing hasn’t kept pace."
Retail
Apple, Louis Vuitton, Gucci Drop China Prices for VAT Cuts
Luxury brands lowered product prices in China as a cut in the country's VAT rate came into effect on April 1.
Apple, Louis Vuitton, Gucci Drop China Prices for VAT Cuts
Luxury brands lowered product prices in China as a cut in the country's VAT rate came into effect on April 1.
Beauty
PZ Cussons Sees Lower Profit as Africa Challenges Mount
The owner of Imperial Leather, Original Source and St Tropez has been struggling to turn around its African business, which contributes over a third of its revenue.
PZ Cussons Sees Lower Profit as Africa Challenges Mount
The owner of Imperial Leather, Original Source and St Tropez has been struggling to turn around its African business, which contributes over a third of its revenue.
Retail
UK Consumer Spending Falls by Most Since July
Expenditure on clothes, recreation, transport and communication all dropped by more than 2 percent in November compared with a year earlier.
UK Consumer Spending Falls by Most Since July
Expenditure on clothes, recreation, transport and communication all dropped by more than 2 percent in November compared with a year earlier.
Entrepreneurship
French Consumer Confidence Falls to Lowest in Three Years
Concerns over unemployment and inflation caused by rising oil prices makes French consumer confidence take a tumble.
French Consumer Confidence Falls to Lowest in Three Years
Concerns over unemployment and inflation caused by rising oil prices makes French consumer confidence take a tumble.
Retail
Blockbuster Cyber Monday Is Overshadowed by Economic Outlook
Despite record spending on Cyber Monday, rising interest rates and an escalating trade war mean US retailers are still facing squeezed profit margins.
Blockbuster Cyber Monday Is Overshadowed by Economic Outlook
Despite record spending on Cyber Monday, rising interest rates and an escalating trade war mean US retailers are still facing squeezed profit margins.
Retail
Chinese Shoppers Crave Experiences With Their Bags
Generation Z customers in China are looking for more than just purchases on their shopping trips, says LVMH.
Chinese Shoppers Crave Experiences With Their Bags
Generation Z customers in China are looking for more than just purchases on their shopping trips, says LVMH.
Luxury
Hedge Fund Successfully Bets on Luxury Appetite Falling
Asian hedge fund gains almost 16 percent as other suffer amid Chinese luxury spend slow down.
Hedge Fund Successfully Bets on Luxury Appetite Falling
Asian hedge fund gains almost 16 percent as other suffer amid Chinese luxury spend slow down.
Retail
New Asian Shoppers Drive Japan’s Travel Retail Boom
Big spenders from Indonesia, Thailand and Vietnam are making their mark on Japan’s travel retail market during peak tourist seasons like ‘hanami’ and ‘koyo’.
New Asian Shoppers Drive Japan’s Travel Retail Boom
Big spenders from Indonesia, Thailand and Vietnam are making their mark on Japan’s travel retail market during peak tourist seasons like ‘hanami’ and ‘koyo’.
The News in Brief
CVC Mulls Buying Stake in Jeweller APM Monaco From TPG
CVC Capital Partners is considering buying a stake in the fashion jeweller from private-equity firm TPG Inc., according to people familiar with the matter.
London’s Liberty Doubles Fabric Section as Sewing Booms
The department store has more than doubled the size of its fabrics department and will host crafting classes this autumn as social media drives a surge in activities like sewing.
US Businesses File Lawsuit Challenging New ‘Forced Labour’ Tariffs
Two small businesses, backed by the group that successfully sued over previous tariffs, say the new policy similarly exceeds the president’s authority to tax imports.
Perfume Maker Givaudan’s Sales Beat Estimates, Tariff Paybacks Weigh on Shares
Givaudan’s second-quarter organic sales came in ahead of market estimates on Thursday, but its shares fell 5 percent on litigation costs and tariff repayments.
Trump to Impose Forced Labour Duties on Friday as Temporary 10% US Tariffs Expire
The move is the White House’s latest effort to restore Trump’s campaign vision of a near-global tariff after the US Supreme Court in February struck down his ‘reciprocal’ duties.
LVMH Appoints General Manager of Fragrance
Givenchy executive Yann Musquin will lead the group’s fragrance portfolio, succeeding longtime division head Romain Spitzer.
India Changes Rule in Win for Foreign E-Commerce Companies
In a major win for Amazon, which lobbied for the change, the government will allow foreign e-commerce companies to buy products directly from Indian sellers and sell them to overseas customers.