Report: Abercrombie to Seek Fresh Backers for China Business
The US-listed company is conducting a review of its Chinese assets and may sell a stake in the unit, which could be valued at several hundred million dollars, Bloomberg reported.
watches
News & Analysis
Swatch's Strong Forecast Bolsters Decision to Keep Workers
A rebound in Swiss watch sales exonerates Swatch Group CEO who refused to cut his skilled work force when profits were declining.
Swatch's Strong Forecast Bolsters Decision to Keep Workers
A rebound in Swiss watch sales exonerates Swatch Group CEO who refused to cut his skilled work force when profits were declining.
News & Analysis
Inside Richemont’s Leadership Crisis
An unconventional management structure, combined with serious ongoing business challenges, has upset senior ranks at the Swiss luxury conglomerate.
Inside Richemont’s Leadership Crisis
An unconventional management structure, combined with serious ongoing business challenges, has upset senior ranks at the Swiss luxury conglomerate.
News & Analysis
Richemont Executive Once Seen as Future Chief Exits
Georges Kern, a 17-year Richemont veteran who was head of watchmaking, marketing and digital, has resigned with immediate effect.
Richemont Executive Once Seen as Future Chief Exits
Georges Kern, a 17-year Richemont veteran who was head of watchmaking, marketing and digital, has resigned with immediate effect.
Luxury
Swiss Watch Exports Fall by 5.7 Percent in April
Swiss watch exports fell by 5.7 percent in April, hurt by weakness in the key markets of Hong Kong and the US, raising concerns that a recovery in the industry will take time.
Swiss Watch Exports Fall by 5.7 Percent in April
Swiss watch exports fell by 5.7 percent in April, hurt by weakness in the key markets of Hong Kong and the US, raising concerns that a recovery in the industry will take time.
Luxury
Op-Ed | For Richemont, There Can Be Such a Thing as Too Many Luxury Watches
Richemont's approach shows a continuation of the disciplined stance it took during the latest luxury downturn, buying back excess stock and cutting about 300 Swiss staff to curb costs.
Op-Ed | For Richemont, There Can Be Such a Thing as Too Many Luxury Watches
Richemont's approach shows a continuation of the disciplined stance it took during the latest luxury downturn, buying back excess stock and cutting about 300 Swiss staff to curb costs.
Luxury
Richemont Shares Fall by 5 Percent After It Misses Profit Expectations
Shares in the luxury goods group fell 5.6 percent, after it said the trading environment would stay volatile. Richemont reported net profits fell below expectations but sales growth picked up towards the end of its fiscal year to March.
Richemont Shares Fall by 5 Percent After It Misses Profit Expectations
Shares in the luxury goods group fell 5.6 percent, after it said the trading environment would stay volatile. Richemont reported net profits fell below expectations but sales growth picked up towards the end of its fiscal year to March.
Luxury
Breitling Agrees to Sell to CVC in $870 Million Deal
Breitling is one of the last remaining large independent Swiss watch brands while many others have been acquired by competitors such as Swatch Group, Richemont, LVMH and Kering.
Breitling Agrees to Sell to CVC in $870 Million Deal
Breitling is one of the last remaining large independent Swiss watch brands while many others have been acquired by competitors such as Swatch Group, Richemont, LVMH and Kering.
Financial Markets
Op-Ed | Breitling's Deal Hits on a Stretch of Good Timing
The Swiss watchmaker's family owners have done well to get a deal at all. At least by keeping a 20 percent stake, they won't be shut out from all the upside.
Op-Ed | Breitling's Deal Hits on a Stretch of Good Timing
The Swiss watchmaker's family owners have done well to get a deal at all. At least by keeping a 20 percent stake, they won't be shut out from all the upside.
Luxury
Swiss Watch Exports Rise, Breaking Record Slump
Swiss watch exports rose for the first time in 21 months in March, ending their longest slump on record as shipments to Hong Kong pulled out of a two-year decline.
Swiss Watch Exports Rise, Breaking Record Slump
Swiss watch exports rose for the first time in 21 months in March, ending their longest slump on record as shipments to Hong Kong pulled out of a two-year decline.
News & Analysis
Cartier, Rolex and Omega Lead Swiss Rankings for Fine Watches
A Swiss industry group has published the findings of the first comprehensive effort to classify high-end Swiss brands in a business where the perception of exclusivity equals all-important bragging rights.
Cartier, Rolex and Omega Lead Swiss Rankings for Fine Watches
A Swiss industry group has published the findings of the first comprehensive effort to classify high-end Swiss brands in a business where the perception of exclusivity equals all-important bragging rights.
Retail
Dutch Court Backs Swatch in $400 Million Row With Tiffany
An arbitration panel in the Netherlands had ordered Tiffany in December 2013 to pay Swatch $404.5 million in damages over the aborted project to produce and market watches.
Dutch Court Backs Swatch in $400 Million Row With Tiffany
An arbitration panel in the Netherlands had ordered Tiffany in December 2013 to pay Swatch $404.5 million in damages over the aborted project to produce and market watches.
News & Analysis
For Luxury Watchmakers, Grey Market Is a Necessary Evil
Unsold timepieces are finding their way from the industry's carefully controlled official retail networks to online platforms where they are often offered at steep discounts
For Luxury Watchmakers, Grey Market Is a Necessary Evil
Unsold timepieces are finding their way from the industry's carefully controlled official retail networks to online platforms where they are often offered at steep discounts
The News in Brief
Chanel Sales Up 16% in First Half
Chanel’s sales are accelerating after returning to growth last year, Bloomberg reported citing an unnamed source. Beauty sales rose 8 percent.
P&G to Buy Supplement Maker Thorne for $3.8 Billion
Shailesh Jejurikar, chief executive of the American personal care conglomerate, told CNBC it will acquire the line from LVMH-backed private equity firm L Catterton.
Eli Lilly to Offer Early Access to Next-Gen Obesity Drug to Some Patients
Eli Lilly said on Monday it would allow a limited number of patients to have early access to its experimental obesity drug, retatrutide, before its US FDA approval.
India’s Nykaa Posts Higher Quarterly Profit on Strong Beauty Demand, Fashion Growth
India’s FSN E-Commerce Ventures, which operates beauty and fashion retailer Nykaa, reported a more than three-fold rise in quarterly profit on Tuesday, boosted by strong growth in its beauty business and a sharp acceleration in fashion sales.
Ferragamo Returns to Profit as Relaunch Strategy Advances
The Italian luxury brand swung to a net profit for the first half after growing sales in the second quarter, with turnaround efforts particularly evident in its directly owned shops.
Shein Seeks $30 Billion to $40 Billion Valuation for August IPO, Sources Say
The valuation target marks a dramatic reset for Shein, which plans to launch its IPO as early as mid-August, three people familiar with the matter said.
Zalando Narrows Profit Outlook, Sees Growth at Lower End of Range
The online fashion retailer said 2026 revenue and growth will land in the lower half of its previously guided range and narrowed its adjusted operating profit outlook.