Food

Bengal clothing producers that work for European multinationals, will be visited by inspectors in the following months who will check the working conditions on site. This is one of the consequences of the collapse of a building in Dhaka, which cost the lives of 1,100 people.

The French exchange watchdog has fined LVMH for 8 million euro, because the French luxury company has “deviously” bought a stake in the capital of competitor Hermès. LVMH has already said it will appeal the decision.

Italian fashion designers Domenico Dolce and Stefano Gabbana have been convicted to 19 months in jail for fiscal fraud. The designers will undoubtedly appeal, so they will not have to go to jail just yet.

French luxury company Kering (formerly PPR) is said to have its mind set on Swiss Richard Mille. The relatively young brand of watches should cost Kering between 340 and 400 million Swiss francs (between 275 and 325 million euro) and would fit perfectly in the plans of Kering to expand its jewellery and watch business. In the meantime the name change of PPR has been officially approved at the annual shareholders' meeting.

The breakthrough of 3D-printing is causing a turnaround in the production of sporting goods. Producers such as Nike and Adidas are using the technique to produce sports shoes faster and cheaper.

Axel Dumas (42) is the new CEO of French luxury group Hermès. Until the end of January 2014 he will work with current CEO Patrick Thomas, who will then retire. Dumas has to help ensure the independence of the company from ‘intruder’ LVMH.

Ailing Italian lingerie and beachwear brand La Perla is getting a new chance. The Italian entrepreneur Silvio Scaglia has bought the brand for 69 million euro at a judicial auction. Other parties interested were Italian Calzedonia and Israeli Delta Galil.