LVMH
Investing.com– U.S. stocks fell Tuesday as investors digested a series of quarterly corporate earnings, with the banking sector in the spotlight. The fell 325 points, or 0.75%, while the index dropped 42 points, or 0.7%, lower and the fell 181 points, or 1%. Bank earnings in spotlight Investor focus was squarely…
Investing.com — LVMH (EPA:) on Thursday said it has purchased a 10% stake in Double R, Remo Ruffini’s investment vehicle, which owns 15.8% of Moncler, indirectly giving LVMH a 1.58% stake in Moncler Group (BIT:). LVMH will also have one board seat on Moncler and two on Double R. Double R holds a…
Some of the world’s biggest brand names are struggling to crack one market this year: China.Retailers, including luxury giant LVMH, L’Oreal, and Starbucks are all seeing lower sales in the world’s second-largest economy, compared with past years. Chinese customers are choosing to save their money and spending on experiences when…
LVMH is having Champagne problems. Chief financial officer Jean-Jacques Guiony thinks it could come from fewer celebrations for people to pop the bottle.The company sold 15% fewer Champagne bottles in the first half of the year, compared to the same period last year, per LVMH’s Tuesday earnings report. Meanwhile, still…
By Mimosa Spencer PARIS (Reuters) -LVMH sales slowed in the second quarter as shoppers stung by a rise in prices held back on splashing out on high end fashion, likely offering little reassurance to investors worried about slowing growth in the luxury goods sector. Sales at the world’s biggest luxury…
By Helen Reid and Mimosa Spencer LONDON/PARIS (Reuters) – Europe’s top asset manager Amundi and other LVMH investors want the $370 billion luxury behemoth controlled by billionaire Bernard Arnault to take more aggressive steps to monitor its suppliers’ treatment of workers after Italian prosecutors disclosed alleged sweatshop-like conditions at subcontractors…
ZURICH (Reuters) – French billionaire Bernard Arnault, Europe’s richest man and the chairman of high fashion to champagne group LVMH, has bought a stake in smaller luxury rival Richemont, Bloomberg reported on Tuesday. The exact size of the shareholding in the owner of Cartier jewellery and Arnault’s intentions are unclear,…
By Mimosa Spencer and Dominique Patton PARIS (Reuters) -LVMH’s sales slowed in the first quarter as rising prices prompted more shoppers who aspire to own its luxury labels to hold back on splashing out thousands of dollars on handbags and other accessories. Slower sales growth of 3% reflected comparisons with…
