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
Can Kering Bounce Back From Its ‘Annus Horribilis’?
The French group said it would close 50 stores to adapt to a slower market after fourth-quarter sales at flagship Gucci plunged 24 percent.
Can Kering Bounce Back From Its ‘Annus Horribilis’?
The French group said it would close 50 stores to adapt to a slower market after fourth-quarter sales at flagship Gucci plunged 24 percent.
Luxury
This Week: The Super Bowl; Gucci at a Crossroads
Expectations are low for the struggling luxury mega brand, as parent Kering reports fourth-quarter results.
This Week: The Super Bowl; Gucci at a Crossroads
Expectations are low for the struggling luxury mega brand, as parent Kering reports fourth-quarter results.
Luxury
LVMH Growth Boosts Luxury Outlook
The sector bellwether beat expectations with a 1 percent rise in fourth-quarter sales, as demand for fashion and leather goods picked up, adding to hopes the luxury market has turned a corner.
LVMH Growth Boosts Luxury Outlook
The sector bellwether beat expectations with a 1 percent rise in fourth-quarter sales, as demand for fashion and leather goods picked up, adding to hopes the luxury market has turned a corner.
Luxury
Richemont’s Sales Soar 10%
Higher sales in the US and Europe coupled with smaller declines in China offered a tentative sign that demand for luxury goods may be recovering.
Richemont’s Sales Soar 10%
Higher sales in the US and Europe coupled with smaller declines in China offered a tentative sign that demand for luxury goods may be recovering.
Retail
This Week: Will Zara’s Charmed Run Continue?
Inditex reports third-quarter results that are expected to show steady growth at its biggest brand, which has built strong defenses against rivals at the top and bottom of the market.
This Week: Will Zara’s Charmed Run Continue?
Inditex reports third-quarter results that are expected to show steady growth at its biggest brand, which has built strong defenses against rivals at the top and bottom of the market.
Retail
Mytheresa Reports Sales, Profit Growth in Latest Quarter
The German e-tailer’s consistent financial performance puts it in a solid position as it awaits regulatory approval of its merger with Yoox-Net-a-Porter.
Mytheresa Reports Sales, Profit Growth in Latest Quarter
The German e-tailer’s consistent financial performance puts it in a solid position as it awaits regulatory approval of its merger with Yoox-Net-a-Porter.
Luxury
This Week: Burberry Goes Back to Basics, Again
When times get tough, the British brand tends to lean more heavily on its heritage. A traditionalist makeover is expected to be announced alongside what are expected to be bleak earnings on Nov. 14.
This Week: Burberry Goes Back to Basics, Again
When times get tough, the British brand tends to lean more heavily on its heritage. A traditionalist makeover is expected to be announced alongside what are expected to be bleak earnings on Nov. 14.
Beauty
A First-Day Agenda for Estée Lauder’s New CEO
From cutting costs, rebuilding brand equity and right-sizing its exposure to volatile markets, incoming chief executive Stéphane de La Faverie has a lot to accomplish if he wants to reassure investors that the company’s best days are still to come.
A First-Day Agenda for Estée Lauder’s New CEO
From cutting costs, rebuilding brand equity and right-sizing its exposure to volatile markets, incoming chief executive Stéphane de La Faverie has a lot to accomplish if he wants to reassure investors that the company’s best days are still to come.
Luxury
How Prada Is Defying the Downturn
The Milanese group reported nine-month net revenues up 18 percent year-on-year, powered by eye-popping growth at Miu Miu, where third-quarter sales surged 105 percent.
How Prada Is Defying the Downturn
The Milanese group reported nine-month net revenues up 18 percent year-on-year, powered by eye-popping growth at Miu Miu, where third-quarter sales surged 105 percent.
Retail
This Week: Adidas, Prada Offer a Respite From a Grim Earnings Season
A slew of brands should report strong results even amid an unpredictable economy and slumping luxury sales.
This Week: Adidas, Prada Offer a Respite From a Grim Earnings Season
A slew of brands should report strong results even amid an unpredictable economy and slumping luxury sales.
Luxury
Hermès Continues to Outshine Rivals with Sales up 11.3%
The Birkin bag maker reported a hefty rise in third-quarter sales on Thursday, continuing to outperform rivals hit hard by a sharp slowdown in luxury demand.
Hermès Continues to Outshine Rivals with Sales up 11.3%
The Birkin bag maker reported a hefty rise in third-quarter sales on Thursday, continuing to outperform rivals hit hard by a sharp slowdown in luxury demand.
Beauty
Why L’Oréal’s Meteoric Skincare Growth is Coming Back to Earth
L’Oréal’s dermatological beauty division is usually a blockbuster, but the impact of increased competition and the decline of drugstore distributors on its recent earnings show the company can’t rest on its laurels.
Why L’Oréal’s Meteoric Skincare Growth is Coming Back to Earth
L’Oréal’s dermatological beauty division is usually a blockbuster, but the impact of increased competition and the decline of drugstore distributors on its recent earnings show the company can’t rest on its laurels.
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.