Puig Targets €8 Billion in Annual Sales by 2032
Ahead of its first Capital Markets Day in Madrid, the Spanish beauty group has unveiled its “Vision 2032” and detailed its plans to grow its share of the global fragrance market.
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Financial Markets
Luxury Start-Ups: Oxymoron or Opportunity?
The most valuable luxury brands are all over 100 years old, but under certain conditions investing in luxury start-ups can deliver stellar returns, writes Pierre Mallevays.
Financial Markets
Could China’s President Be Good for Luxury?
Xi Jinping’s speech on ‘common prosperity’ was not a declaration of war on wealth but an acknowledgement that wealth is concentrated in too few hands. A larger middle class could actually create revenue opportunities at entry level prices for luxury brands.
Financial Markets
Why Kering Is Buying Back Its Shares
The French luxury conglomerate plans to buy back up to 1 percent of its share capital over a 12-month period.
Financial Markets
America’s Malls Aren’t Dying as Fast as Some Traders Would Like
Hedge funds have piled into a trade that could reap huge profits if loans taken out by mall operators eventually go bust. But there's one catch: the mall industry refuses to die.
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Financial Markets
H&M to Cut Dividend for First Time Since 1974, Analysts Say
The clothing retailer will struggle to match this year's payout.
Financial Markets
Puma Lifts Guidance As Sales Growth Accelerates
The German sportswear brand nudged up its sales and profit guidance for 2018, but warned of volatile currencies and the threat of a US-China trade war.
Financial Markets
Kering Confirms Stella McCartney Split
The French luxury conglomerate is selling its 50 percent share of the label back to the designer after a 17-year partnership.
Financial Markets
Kering Refutes Tax Evasion Claims
The French luxury-goods group has responded to reports that it used a Swiss-based scheme to evade taxes on earnings from brands like Gucci and Saint Laurent.
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Financial Markets
Alibaba Plans Listing in Mainland China
The e-commerce giant is working on a plan to list on a stock exchange in its home country, according to sources.
Financial Markets
Adidas to Buy Back Shares for as Much as €3 Billion by 2021
The decision is a sign of confidence as Adidas' CEO tries to increase sales to about €26 billion by 2020.
Financial Markets
Furla Revenues to Surpass €500 Million in 2018
The Italian handbag maker’s turnover grew 20 percent last year, fuelled by strong demand in the Asia-Pacific region and its digital investments.
Financial Markets
Prada Shares Soar 20 Percent on Growth Outlook
Prada shares jumped to its highest level since June 2015.
The News in Brief
Report: Puig, CVC, Cinven Eye Luxury Fragrance Maker Parfums de Marly
Private equity firms CVC Capital Partners and Cinven, along with Spanish beauty group Puig, are considering acquiring Parfums de Marly, the luxury fragrance brand owned by Advent International, two people familiar with the matter told Reuters.
Beauty and Home Care Drive Unilever Sales, Food Unit Falters
The UK conglomerate raised its annual volume growth forecast on beauty, personal and home care demand, despite a lagging food sector and the impact of geopolitical conflict on costs.
Carlos Nazario Appointed Editor in Chief of Wonderland
The fashion editor and stylist is reuniting with longtime collaborator Alastair McKimm, chief creative officer of Wonderland parent Visual Talent Ltd.
Aritzia Seeks to More Than Double Sales by 2032
New categories and brick-and-mortar expansion beyond North America are set to drive Aritzia’s quest to hit $10.5 billion CAD ($7.5 billion).
Pop Mart Quarterly Sales Fall Up to 50% as Labubu Fad Cools
Sales in the Americas fell 70 to 75 percent.
Zegna to Take Summer Fashion Show to Beijing
The Italian label has continued to enjoy solid growth in China, defying a wider downturn in demand for European luxury. The June 11 presentation of its summer collection will be the latest in a series of travelling shows.
Beiersdorf Sales Slightly Miss Expectations on Nivea Weakness
The German consumer goods maker marginally missed market expectations for third-quarter sales growth on Tuesday, with its key Nivea brand posting a third straight quarterly sales decline.