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LVMH
LVMH Continues to Expand in Asia
(Source: LuxuryBrandNetwork.com)
LVMH reported a third-quarter sales drop of 0.6% to €4.135 billion. Before the favorable impact of currency exchange, sales dropped 3%. . . . keep reading
LVMH to Increase Share in Eco-Luxe Brand Edun
LVMH plans to buy a significant part of Edun, the environmentally-friendly luxury brand founded in 2005 by rock star Bono with his wife, Ali Hewson. Edun is a no-for-profit business. . . . keep reading
LVMH Sales Fall 7% on Comparable Basis
(Source: LuxuryBrandNetwork.com)
Currency gains and a modest revenue increase in LVMH's Fashion and Leather Goods division, the company's largest group, helped offset revenue declines in all other divisions for the quarter ended 31 March. Fashion and Leather Goods revenue climbed 4% on a comparable basis to €1,598 million while sales in Watches and Jewelry dropped a staggering 41% to €154 million. Wine & Spirit revenue fell 22% to €540 and Perfumes and Cosmetics sales fell 11% to €663. . . . keep reading
Russian Luxe Outlook Darkens
(Sorce: Reuters)
Analysts say that luxury sales in Russia will plummet in 2009. The Moscow stores of Stella McCartney and Alexander McQueen both closed this month, according to Reuters, and the city's swanky Stoleshnikov Pereulok district is bracing for additional closures. . . . keep reading
Louis Vuitton Abandons Plan to Build Largest Store in Japan (12/16)
(Source: Nikkei)
Louis Vuitton now says it will no longer pursue plans to build a new flagship store in Tokyo. The Ginza Tower location, to have been completed in 2010, would have been the world's largest Louis Vuitton store at 12,000 square meters (130,000 square feet) and would have rivaled impressive new Armani and Bulgari locations in Ginza. . . . keep reading
LVMH Controls Damage After Exec Comments Sink Stock
(Source: LuxuryBrandNetwork.com)
LVMH quickly went into damage control mode after the company's top executive in China urged caution in that market. His comments may have helped send the company's stock down more than 11% for the day to a five-year low. . . . keep reading
Luxury Outlook: EXCLUSIVE ANALYSIS
(Source: LuxuryBrandNetwork.com)
Luxury CEOs say the outlook for the fourth quarter and into 2009 is deteriorating rapidly. Even the most optimistic--including LVMH, Coach and Burberry--see growth rates slowing. Current coverage includes: Bulgari, Tifffany, Burberry, Coach, LVMH, Hermès, Williams-Sonoma, Liz Claiborne, Hugo Boss, Tod's Group, Ann Taylor and Nordstrom. . . . keep reading
Louis Vuitton Counterfeit Ruling Influenced by Obstruction
A New York court has awarded Louis Vuitton $3,000,000 in statutory damages and over $500,000 in attorney's fees and expenses in its lawsuit against a counterfeit ring. . . . keep reading
Old Athens Emerging as New Luxury Hotspot
(Source: International Herald Tribune)
Only in the past few years have leading luxury brands noted the impact of Greek luxury shoppers abroad and ventured to Greece themselves. . . . keep reading
LVMH Grows Revenue 3.1% in Third Quarter
Luxury giant LVMH continues to produce gravity-defying results, reporting continued revenue growth across nearly each of its sectors. . . . keep reading
Organic-Pioneer Bamford Seeks Luxe Investors
(Source: Financial Times)
British eco-friendly designer Bamford is looking to sell or partner with an investor to help expand into new markets, reports the Financial Times, and major luxury players including LVMH and Richemont are showing interest. . . . keep reading
LVMH Buys Mega-Yacht Builder
LVMH will purchase Royal van Lent, the 160-year-old company that builds Feadship yachts. . . . keep reading
DK Home Chief Leaves for EVP Position at Martha Stewart
Donna Karan Home CEO Patsy Pollack has resigned and taken the newly created title of EVP of Merchandising for Martha Stewart Living Omnimedia. . . . keep reading
Former French Minister Tapped to Run LVMH in U.S.
(Source: Le Figaro)
Former French Minister Renaud Dutreil has been chosen to head LVMH operations in the United States. . . . keep reading
Q3+ Luxury Outlook: EXCLUSIVE ANALYSIS
(Source: LuxuryBrandNetwork.com)
Citing "strong momentum in the first half of the year," LVMH Chairman and CEO Bernard Arnault said the group "approaches the second half with confidence." . . . keep reading
LVMH Posts 12% Revenue Gain for Half Year
(Source: LuxuryBrandNetwork.com)
LVMH Moet Hennessy Louis Vuitton posted organic revenue growth of 12% for the first half of 2008 with profit up 19% excluding the effects of currency. . . . keep reading
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