The threat of a possible corona epidemic in China has caused a shockwave in European luxury goods stocks. With the Chinese New Year approaching, the coronavirus could heavily impact these brands’ turnover.
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The luxury sector too is moving slowly towards sustainability: business models such as clothing rental, second-hand sales and co-ownership are some of the trends that have characterised the sector over the past year.
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In the third quarter, the French Kering group saw its revenue rise sharply again. All major brands (Gucci and Yves Saint Laurent) contributed to the group’s growth.
Luxury brand Armani needs to bite the bullet in order to emerge stronger next year. That is what founder Giorgio Armani believes, seeing turnover drop and profits go down by more than half after restructurings.
Hermès has had a strong first half of the year. The French luxury house saw its turnover rise by 15%. Growth was strongest in Asia, but improved in all regions.
French luxury group Richemont has seen its turnover increase by 12 % in the first quarter of the current financial year, as its online activities grew spectacularly.
Luxury jeans brand Jacob Cohën is opening a flagship store in Antwerp. It's the Italian chain's third store in Belgium.
Luxury group LVMH, known as the parent company of Louis Vuitton, Moët & Chandon and others, has had a record year: profits went up by as much as 21% and exceeded the record height of 10 billion euros. How? By embracing exclusivity.
Swiss luxury group Richemont is going to offer its products on the booming Chinese market through a joint venture with Alibaba. Subsidiary Yoox Net-a-porter gains access to a billion consumers this way, while Alibaba basks in the luxurious glow of the Swiss.
French luxury group LVMH, led by Bernard Arnault, will invest millions of dollars in Lyst once again. The luxury fashion search engine wants to expand its global expansion this way.
French luxury group Kering achieved a 36.5 % turnover increase in its first quarter as Gucci took full advantage of a 90’s revival among young consumers: the luxury brand is “hot” among teens and saw its turnover climb 48.7 %.
Suitcase brand Rimowa, part of luxury group LVMH since 2016, has stopped all of its dealer contracts. It wants to initiate a new procedure soon and only a fraction of the current dealers will get a new contract.
Online luxury retailer Yoox Net-A-Porter has shown increased sales in the Middle East across 2017, but its profit did suffer. Nevertheless, the fashion retailer believes it will reach its five-year target.
French luxury group Kering proved to be very successful in 2017: its turnover grew 25 % and its net profit more than doubled compared to the year before.
French fashion brand Hermès’ fourth quarter turnover dropped 0.4 % but its full-year results were great, with a 7 % turnover increase and improved margins compared to the year before.
French luxury group Richemont achieved a 7 % third quarter revenue increase. Unfortunately, exchange rate fluctuations eliminated nearly everything.