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.
earnings
Luxury
Kering Braces for Aspirational Luxury’s Long Winter
Sales at luxury fashion’s second-biggest group fell 4 percent in the holiday quarter, putting it significantly behind key rivals. The Gucci and Saint Laurent owner is expecting another year of lacklustre growth amid a long-term plan to push its brands upmarket.
Kering Braces for Aspirational Luxury’s Long Winter
Sales at luxury fashion’s second-biggest group fell 4 percent in the holiday quarter, putting it significantly behind key rivals. The Gucci and Saint Laurent owner is expecting another year of lacklustre growth amid a long-term plan to push its brands upmarket.
Beauty
Estée Lauder Reveals Its Recovery Playbook
The beauty giant announced layoffs and plans to regain profitability, measures to restore faith in investors and customers alike.
Estée Lauder Reveals Its Recovery Playbook
The beauty giant announced layoffs and plans to regain profitability, measures to restore faith in investors and customers alike.
Luxury
LVMH’s Steady Holiday Growth Offers Reassuring Signal For Luxury
The French group seen as a bellwether for the sector expressed tempered optimism for 2024.
LVMH’s Steady Holiday Growth Offers Reassuring Signal For Luxury
The French group seen as a bellwether for the sector expressed tempered optimism for 2024.
Luxury
Richemont Shares Surge As Demand for Cartier, Van Cleef Boosts Holiday Sales
Sales rose 8 percent year-on-year for the three months ending December 2023 to €5.6 billion, beating analyst expectations.
Richemont Shares Surge As Demand for Cartier, Van Cleef Boosts Holiday Sales
Sales rose 8 percent year-on-year for the three months ending December 2023 to €5.6 billion, beating analyst expectations.
Luxury
Luxury’s Rebound Is Proving Elusive as China Gloom Adds to Warnings
Richemont SA will offer fresh insight on how luxury companies are coping with a sector-wide growth slump when it reports third-quarter sales on Thursday.
Luxury’s Rebound Is Proving Elusive as China Gloom Adds to Warnings
Richemont SA will offer fresh insight on how luxury companies are coping with a sector-wide growth slump when it reports third-quarter sales on Thursday.
Luxury
Is Richemont Ready to Reveal Net-a-Porter’s Future?
The Swiss luxury conglomerate reports quarterly results this week, as the failed deal to offload its struggling e-commerce unit to Farfetch looms large. That, plus what else to watch for in the coming days.
Is Richemont Ready to Reveal Net-a-Porter’s Future?
The Swiss luxury conglomerate reports quarterly results this week, as the failed deal to offload its struggling e-commerce unit to Farfetch looms large. That, plus what else to watch for in the coming days.
Retail
Under Pressure From Shein, H&M Reaches for Upmarket Shoppers
In seeking to attract more aspirational shoppers, H&M is boosting its image through high fashion collaborations.
Under Pressure From Shein, H&M Reaches for Upmarket Shoppers
In seeking to attract more aspirational shoppers, H&M is boosting its image through high fashion collaborations.
Retail
Unpacking Macy’s Surprise Buyout Offer
Wall Street says the $5.8 billion bid for the American department store chain comes below even the most conservative estimates for the value of Macy’s real estate properties alone.
Unpacking Macy’s Surprise Buyout Offer
Wall Street says the $5.8 billion bid for the American department store chain comes below even the most conservative estimates for the value of Macy’s real estate properties alone.
Luxury
Burberry Shares Fall 10 Percent As Company Forecasts Lower Full-Year Sales
The company will be unable to meet its full-year revenue guidance if softer demand in the global luxury market continues, the British luxury company said Thursday.
Burberry Shares Fall 10 Percent As Company Forecasts Lower Full-Year Sales
The company will be unable to meet its full-year revenue guidance if softer demand in the global luxury market continues, the British luxury company said Thursday.
Beauty
E.l.f. Beauty Raises Outlook After Sales Surged 76 Percent Last Quarter
CEO Tarang Amin told Business of Beauty he expects annual revenue to hit $1 billion ‘sooner rather than later’ and is open to more acquisitions.
E.l.f. Beauty Raises Outlook After Sales Surged 76 Percent Last Quarter
CEO Tarang Amin told Business of Beauty he expects annual revenue to hit $1 billion ‘sooner rather than later’ and is open to more acquisitions.
Beauty
What’s Behind Estée Lauder’s Continued Slide?
Travel retail’s slow rebound drove the beauty conglomerate to its fifth straight quarter of declines.
What’s Behind Estée Lauder’s Continued Slide?
Travel retail’s slow rebound drove the beauty conglomerate to its fifth straight quarter of declines.
Retail
What Is VF Corp.’s Plan for Vans and Its Other Struggling Brands?
Activist investors are demanding big changes at the fashion conglomerate, which also owns The North Face, Supreme, Timberland and other brands. The company will have a chance to lay out its own vision when it releases earnings this week.
What Is VF Corp.’s Plan for Vans and Its Other Struggling Brands?
Activist investors are demanding big changes at the fashion conglomerate, which also owns The North Face, Supreme, Timberland and other brands. The company will have a chance to lay out its own vision when it releases earnings this week.
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.