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GUCCI SALES DECLINE
Global Market: European stocks edge lower as Kering slumps, oil prices riseEuropean shares slipped as Kering plunged 10.4% following weak Gucci sales, while rising oil prices and French political uncertainty dampen...- Chinese spending curbs weigh on Hermes salesRevenue in the region that includes China, the luxury group's biggest market, flatlined at constant exchange rates, Hermes International sa...
- US luxury spending falls for third month as wealthy shoppers turn cautious ahead of midtermsUS credit card spending on luxury brands fell by 6% from a year earlier in September. This marked the third consecutive monthly decline lea...
- Global Market: European shares gain as miners, energy stocks lead; investors track Middle East tensions, earningsEuropean stocks saw a slight increase, driven by strong mining and energy sectors. Commodity prices surged, influencing gains in these key ...
- Global Markets | European shares flat as investors take stock of mixed earnings updatesEurope's benchmark share index was subdued on Tuesday as shares of BP fell after the energy giant suspended share buybacks, while gains in ...
- China's Anta Sports and Li Ning exploring bid for Puma, source saysChinese sportswear giants Anta Sports and Li Ning are reportedly looking at buying German brand Puma. Puma's market value has dropped signi...
- Kering agrees to sell beauty unit to L'Oreal for $4.7 billion as De Meo trims debtGucci owner Kering is selling its beauty division to L'Oreal for 4 billion euros. This major deal includes the fragrance brand Creed and lo...
- High stakes for high fashion: Brands bet on luxury revival on the catwalkLuxury brands like Chanel, Dior, and Gucci are introducing new designers amidst a challenging economic climate. The high-end industry is st...
- Renault boss De Meo quits; report says he will head Gucci-owner KeringLuca de Meo, the Renault CEO, is departing. He might head to Kering, the owner of Gucci. De Meo successfully turned around Renault. He over...
- European shares rise after Trump touts auto-related tariff break, LVMH slumpsThe auto and parts index rose 2.5%, leading gains among sectors, after U.S. President Donald Trump said he was considering a modification t...
- Gucci's India manager Nader Wassel steps down; move comes amid parent co Kering, hit by falling salesGucci's India head, Nader Wassel, has resigned amid restructuring by parent company Kering. The brand saw a 22% drop in profit in FY24, des...
- Luxury titans lose $58 billion as pandemic era splurge endsFrance's wealthiest luxury and cosmetics moguls, including Bernard Arnault and Francoise Bettencourt Meyers, have seen their fortunes shrin...
- Kering Q1 Results: Gucci-owner posts 10% drop in sales on sluggish Chinese demandThe group said its first half operating profit would be "sharply lower" due to the revenue decline and its ongoing investment in its brands...
- Gucci’s China shock reverberates across the luxury landscapeFears of a slowdown in luxury spending among Chinese consumers have been growing for some time, and recent events have underscored this con...
- Reliance attracts luxury brands from Gucci to Louis Vuitton to its space amid India's economic boomLuxury brands such as Gucci, Cartier, and Louis Vuitton have signed leases for stores in Mukesh Ambani's new Mumbai mall, taking advantage ...
- Starbucks misses sales estimates on China COVID curbsStarbucks has raised wages for employees. Even so, more than 50 U.S. cafes have elected to join the Workers United union, while five stores...
- Alibaba cooperates with Kering after fakes suit withdrawnAlibaba is cooperating with Kering to stem the sale of fake products after the Gucci maker withdrew a lawsuit that alleged Alibaba was part...
- Gucci owner Kering may acquire sports brandsAny deal will hinge on Kering’s ability to reverse the fortunes of Puma, Europe’s second-largest sporting-goods maker, which has been under...
- Luxury item prices soar as brands attempt to go upmarketKim Kardashian might as well be naughty this Christmas, because even if she's nice her fiance is unlikely to shell out for a Louis Vuitton ...
- Luxury brands look to China amid global crisisClutching a fistful of shopping bags from designers Vivienne Westwood, Dior and Alexander McQueen, 29-year-old Zhao Bing prowled an upscale...
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