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.
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The Savigny Luxury Index fell 2.2 percent this month, as the standoff between the West and Russia over its annexation of Crimea sparked fears of a drop in luxury goods sales to valuable Russian tourists.
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The News in Brief
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.
Milan Luxury Shops Close for Fear of New Unrest as Government Prepares to Deploy Troops
Most stores in the Via Montenapoleone luxury shopping district, home to brands including Chanel, Tiffany and Dior, removed merchandise from their windows as a precaution.
Vinted Faces Influx of Suspected Looted Goods After French Riots
The company has ‘taken immediate action to identify and remove listings linked to the looting,’ and has ‘stepped up monitoring of suspicious listings,’ a Vinted spokesperson said in a statement. ‘When our rules are breached, we act against the accounts involved, up to permanent bans.’
Quince Launches in UK
The direct-to-consumer business, known for its dupes of popular items, is expanding outside North America for the first time.
Mulberry Posts 18% Rise in First-Half Sales, Sending Shares Up
Resilient demand for heritage bags and a higher share of full-price sales boosted the British luxury handbag maker, sending shares nearly 4 percent higher in early trading.
Swedish Hair Brand Björn Axén Names New CEO
Onur Aktas has been appointed chief executive of the Stockholm-based label as it plots global expansion.