De Beers Makes Sweeping Cuts to Its Elite Diamond-Buying Club
The diamond company produced less than 22 million carats last year, down from almost 35 million in 2022.
currency
Latest News & Analysis
Technology
Op-Ed | Blockchains Could Upend the Fashion Business
Blockchain will revolutionise the industry in the next 10 years, but a number of systems have to be built to support it, argues Charles Beckwith.
Op-Ed | Blockchains Could Upend the Fashion Business
Blockchain will revolutionise the industry in the next 10 years, but a number of systems have to be built to support it, argues Charles Beckwith.
China
The China Edit | Chinese Tourist Spending Falls, Alibaba Hits Australia
This week, why the average Chinese tourist is spending less abroad, while the Alibaba Group expands into Australia and New Zealand.
The China Edit | Chinese Tourist Spending Falls, Alibaba Hits Australia
This week, why the average Chinese tourist is spending less abroad, while the Alibaba Group expands into Australia and New Zealand.
Entrepreneurship
Bags and Bling, Tourists Seek Bargains in Brexit Britain
The sharp fall in sterling since Britain voted to leave the European Union has encouraged tourists to go on a spending spree, providing a little relief for the economy as it faces an overall sharp slowdown.
Bags and Bling, Tourists Seek Bargains in Brexit Britain
The sharp fall in sterling since Britain voted to leave the European Union has encouraged tourists to go on a spending spree, providing a little relief for the economy as it faces an overall sharp slowdown.
Financial Markets
PayPal, MasterCard Reach Deal For Store Payments
MasterCard said it signed a deal with PayPal that will allow customers to use PayPal's payment services in stores.
PayPal, MasterCard Reach Deal For Store Payments
MasterCard said it signed a deal with PayPal that will allow customers to use PayPal's payment services in stores.
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Luxury
Britain Now World's Cheapest Luxury Market
The UK is now the cheapest luxury goods market in the world in the wake of the country's vote to leave the EU, which pushed down the value of the British pound about 10 percent against the euro.
Britain Now World's Cheapest Luxury Market
The UK is now the cheapest luxury goods market in the world in the wake of the country's vote to leave the EU, which pushed down the value of the British pound about 10 percent against the euro.
Retail
Fast Retailing Feels Japan's Brexit Sting With Rising Yen
Billionaire Tadashi Yanai’s Fast Retailing gave an early glimpse of the pain a rising yen is bringing to Japan’s biggest companies since the UK voted to leave the European Union last month.
Fast Retailing Feels Japan's Brexit Sting With Rising Yen
Billionaire Tadashi Yanai’s Fast Retailing gave an early glimpse of the pain a rising yen is bringing to Japan’s biggest companies since the UK voted to leave the European Union last month.
China
China's JD.com Says Brexit Could Boost Imports of British Goods
JD.com has said that Britain leaving the European Union could make British goods cheaper to buy, but it was premature to say if the move would significantly impact the group's business.
China's JD.com Says Brexit Could Boost Imports of British Goods
JD.com has said that Britain leaving the European Union could make British goods cheaper to buy, but it was premature to say if the move would significantly impact the group's business.
News & Analysis
Brexit Vote Sends Tourists Flocking to London to Purchase Luxury Goods
By voting to leave the European Union, Britons have delivered a potential windfall to tourists eager to snatch up Burberry trenchcoats, Harrods Stilton and Liberty scarves on the cheap.
Brexit Vote Sends Tourists Flocking to London to Purchase Luxury Goods
By voting to leave the European Union, Britons have delivered a potential windfall to tourists eager to snatch up Burberry trenchcoats, Harrods Stilton and Liberty scarves on the cheap.
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Financial Markets
Prada Hurt by Strong Pound, Says CFO
According to Prada Chief Financial Officer Donatello Galli, the strong pound is hurting the Italian luxury-goods maker’s earnings.
Prada Hurt by Strong Pound, Says CFO
According to Prada Chief Financial Officer Donatello Galli, the strong pound is hurting the Italian luxury-goods maker’s earnings.
Global Markets
Euro Falls Near $1, But European Luxury Goods Remain Pricey
Americans hunting for a bargain on a new Beemer, bottle of Chateau Margaux or Hermès handbag thanks to the sliding euro should put away their gold cards. European luxury goods sold in the U.S. still carry luxurious price tags.
Euro Falls Near $1, But European Luxury Goods Remain Pricey
Americans hunting for a bargain on a new Beemer, bottle of Chateau Margaux or Hermès handbag thanks to the sliding euro should put away their gold cards. European luxury goods sold in the U.S. still carry luxurious price tags.
Financial Markets
Navigating a Storm of Currency Volatility
How can fashion companies navigate the crashing waves of currency fluctuations?
Navigating a Storm of Currency Volatility
How can fashion companies navigate the crashing waves of currency fluctuations?
The News in Brief
L’Oréal India in Talks to Acquire Beauty Company Innovist
L’Oréal is in advanced talks to acquire a majority stake in Bare Anatomy parent Innovist sources told The Economic Times India.
Zegna Chairman Says War Has Clouded Visibility of Demand in Middle East
The Italian fashion house cautioned the war is reducing visibility on demand in the Middle East, which accounts for 7 percent of its sales, though all stores are currently open in the region.
Glossier Appoints New CMO
Nicole Solorzano, who joins from Ouai, is the Millennial beauty brand’s latest hire.
Macy’s CEO Points to E-Shaped Economy, Signalling Consumer Shift
The mention of a forked economy by the head of America’s largest department store signals a heightened wariness that middle-income Americans will continue to spend at the same pace.
France’s Bid to Suspend Shein’s Marketplace Rejected by Appeals Court
The decision from Paris’ Court of Appeal marked a win for the fast-fashion giant after a scandal over sex dolls resembling children for sale on its site.
Coty Announces Board Revamp
The embattled Covergirl owner has appointed five new independent directors amidst a wider leadership and company shakeup.
Zimmermann Names Roberto Eggs CEO
The Moncler Group executive will succeed longtime CEO Chris Olliver, who is staying on as executive chairman.