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 Lags Luxury Peers
Quarterly sales fell by 13 percent, with weakness at Saint Laurent and Balenciaga, as well as work-in-progress Gucci, as the group struggles to cope with slowing luxury demand.
Kering Lags Luxury Peers
Quarterly sales fell by 13 percent, with weakness at Saint Laurent and Balenciaga, as well as work-in-progress Gucci, as the group struggles to cope with slowing luxury demand.
Luxury
Hermès Defies Luxury Sector Gloom
Sales at the French leather goods powerhouse rose briskly in the third quarter, far surpassing expectations and outshining rivals.
Hermès Defies Luxury Sector Gloom
Sales at the French leather goods powerhouse rose briskly in the third quarter, far surpassing expectations and outshining rivals.
Luxury
How Bad Will the Luxury Slowdown Get?
Financial results from Kering and Hermès will confirm or counter warning signs about the spending of wealthy consumers. That, plus what else to watch for in the coming week.
How Bad Will the Luxury Slowdown Get?
Financial results from Kering and Hermès will confirm or counter warning signs about the spending of wealthy consumers. That, plus what else to watch for in the coming week.
Retail
Unpacking Birkenstock’s Underwhelming Public Debut
Shares of the L Catterton-owned sandal maker sank on their first day of trading, a bad sign for other brands that are thinking about going public.
Unpacking Birkenstock’s Underwhelming Public Debut
Shares of the L Catterton-owned sandal maker sank on their first day of trading, a bad sign for other brands that are thinking about going public.
Financial Markets
Birkenstock Could Break Fashion’s IPO Logjam
A blockbuster public listing should clear the way for other brands to try their luck. That, plus LVMH results and what else to watch for in the coming week.
Birkenstock Could Break Fashion’s IPO Logjam
A blockbuster public listing should clear the way for other brands to try their luck. That, plus LVMH results and what else to watch for in the coming week.
Retail
European Retailers Risk Dressing-Down From Investors as Consumers Flinch
European retailers have been unlikely stock market stars this year, but a long spell of high borrowing costs and inflation has started to bite, so wary investors will be looking for reassurances from the likes of H&M and Zara-owner Inditex when they issue business updates this week.
European Retailers Risk Dressing-Down From Investors as Consumers Flinch
European retailers have been unlikely stock market stars this year, but a long spell of high borrowing costs and inflation has started to bite, so wary investors will be looking for reassurances from the likes of H&M and Zara-owner Inditex when they issue business updates this week.
Luxury
Audemars Piguet CEO Expects to Exit Watchmaker With Record Sales
Strong demand for the Swiss luxury watch brand’s pricey timepieces has put sales on track to hit fresh highs.
Audemars Piguet CEO Expects to Exit Watchmaker With Record Sales
Strong demand for the Swiss luxury watch brand’s pricey timepieces has put sales on track to hit fresh highs.
Financial Markets
US Consumer Spending Accelerates; Declining Savings a Red Flag
Consumer spending increased just 0.8 percent last month as the labour market cools.
US Consumer Spending Accelerates; Declining Savings a Red Flag
Consumer spending increased just 0.8 percent last month as the labour market cools.
Financial Markets
US Economic Growth Trimmed But Retains Underlying Momentum
The US economy grew at a slightly less brisk pace than initially thought in the second quarter as businesses liquidated inventory, but momentum appears to have picked up early this quarter as a tight labour market underpins consumer spending.
US Economic Growth Trimmed But Retains Underlying Momentum
The US economy grew at a slightly less brisk pace than initially thought in the second quarter as businesses liquidated inventory, but momentum appears to have picked up early this quarter as a tight labour market underpins consumer spending.
Retail
Retail’s Two-Track Approach to the Holiday Shopping Season
The end of back-to-school season puts the focus on all-important holiday sales. Mixed signals on consumer spending make forecasters’ jobs even more complicated than usual. That, plus what else to watch for in the coming week.
Retail’s Two-Track Approach to the Holiday Shopping Season
The end of back-to-school season puts the focus on all-important holiday sales. Mixed signals on consumer spending make forecasters’ jobs even more complicated than usual. That, plus what else to watch for in the coming week.
Retail
The Most Resilient Category in Retail
While the rest of fashion contends with uneven demand, off-price chains like T.J.Maxx and Ross Stores have proved to be a bright spot.
The Most Resilient Category in Retail
While the rest of fashion contends with uneven demand, off-price chains like T.J.Maxx and Ross Stores have proved to be a bright spot.
Retail
Unpacking Farfetch’s Big Sales Miss
Farfetch reported disappointing sales and lowered its outlook for the rest of the year. Its own brands, including Off-White and a Reebok license, were hardest hit.
Unpacking Farfetch’s Big Sales Miss
Farfetch reported disappointing sales and lowered its outlook for the rest of the year. Its own brands, including Off-White and a Reebok license, were hardest hit.
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.