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.
Luxury
How rapid change is reshaping the tradition-soaked luxury sector in Europe and beyond.
THE NEWS IN BRIEF
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.
Zimmermann Names Roberto Eggs CEO
The Moncler Group executive will succeed longtime CEO Chris Olliver, who is staying on as executive chairman.
Watch Exports Bounced Back in February Before War in Middle East
Swiss watch exports saw a 9.2 percent rise in February, driven by a strong rebound in the US market.
Swatch CEO Warns Iran War Is Weighing on Watchmaker’s Sales
The company has more than 200 stores in the Middle East, said chief executive officer Nick Hayek.
Kering Unveils New Jewellery Unit, Merges Fashion Brand Reporting
Kering’s newly created jewellery division regroups Boucheron, Pomellato, Dodo and Qeelin brands as the company aims to pool resources. The conglomerate is also regrouping fashion brand reporting, shielding smaller labels from investor scrutiny.
Luxury Stocks Face Most Bearish Sentiment in Years, UBS Says
War in the Middle East, the luxury industry’s fastest-growing market, threatens to delay a long-expected rebound in demand.
Lanvin Deputy CEO Siddhartha Shukla Exits Brand
Owner Lanvin Group said it is ‘fully committed’ to the French label’s development under creative director Peter Copping, with CEO Andy Lew in charge of management.