Adwoa Beauty to Enter Liquidation
A Texas court ruled that the hair-care label’s bankruptcy filing be converted to Chapter 7.
luxury / Conglomerates
Luxury
The Debrief | Why Luxury Still Can’t Find Its Way Out of the Slump
BoF luxury editors Mimosa Spencer and Robert Williams unpack why weak first-quarter results from LVMH, Kering and Hermès have deepened concerns about luxury’s slowdown – and why creative resets alone are not enough to restore growth.
The Debrief | Why Luxury Still Can’t Find Its Way Out of the Slump
BoF luxury editors Mimosa Spencer and Robert Williams unpack why weak first-quarter results from LVMH, Kering and Hermès have deepened concerns about luxury’s slowdown – and why creative resets alone are not enough to restore growth.
Luxury
The Luxury Rebound Gets a Reality Check
A set of underwhelming first-quarter revenues from French luxury groups LVMH, Kering and Hermès is challenging hopes for a sector recovery this year.
The Luxury Rebound Gets a Reality Check
A set of underwhelming first-quarter revenues from French luxury groups LVMH, Kering and Hermès is challenging hopes for a sector recovery this year.
Luxury
Kering Aims to Double Profitability, Reignite Gucci with New Strategy
The French conglomerate is reorganising key functions as part of a strategic overhaul unveiled by new CEO Luca de Meo in Florence Thursday.
Kering Aims to Double Profitability, Reignite Gucci with New Strategy
The French conglomerate is reorganising key functions as part of a strategic overhaul unveiled by new CEO Luca de Meo in Florence Thursday.
Luxury
Luxury Brands Book Sales Drop as Middle East War Takes Toll on Airport Shopping
The conflict in the Middle East is hurting duty-free and travel-retail sales for luxury and beauty groups like LVMH, Kering, Estée Lauder, and L’Oréal.
Luxury Brands Book Sales Drop as Middle East War Takes Toll on Airport Shopping
The conflict in the Middle East is hurting duty-free and travel-retail sales for luxury and beauty groups like LVMH, Kering, Estée Lauder, and L’Oréal.
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Luxury
Gucci Sales Slide as Revival Slow to Take Shape
Revenue at Kering’s flagship brand fell 8 percent in the first quarter, missing analyst expectations, despite creative and management overhauls.
Gucci Sales Slide as Revival Slow to Take Shape
Revenue at Kering’s flagship brand fell 8 percent in the first quarter, missing analyst expectations, despite creative and management overhauls.
Luxury
Luca de Meo’s Gucci Challenge
Seven months into his tenure, Kering’s new CEO has stabilised the company’s finances, but his primary challenge remains reviving growth at flagship brand Gucci.
Luca de Meo’s Gucci Challenge
Seven months into his tenure, Kering’s new CEO has stabilised the company’s finances, but his primary challenge remains reviving growth at flagship brand Gucci.
Luxury
LVMH Sales Remain Sluggish Amid Middle East War
First-quarter sales at the group’s critical fashion and leather goods unit came in slightly below analyst expectations, as the war in the Middle East weighed on demand, despite signs of improvement in China.
LVMH Sales Remain Sluggish Amid Middle East War
First-quarter sales at the group’s critical fashion and leather goods unit came in slightly below analyst expectations, as the war in the Middle East weighed on demand, despite signs of improvement in China.
Luxury
What Comes After the Golden Age of Travel Retail
While passenger numbers have recovered to pre-pandemic levels, sales in duty-free hubs like airports are sluggish. The reality is pushing many brands to rethink their presence: those that want to chase volume have to innovate the offering, or adapt their stores to function more as billboards.
What Comes After the Golden Age of Travel Retail
While passenger numbers have recovered to pre-pandemic levels, sales in duty-free hubs like airports are sluggish. The reality is pushing many brands to rethink their presence: those that want to chase volume have to innovate the offering, or adapt their stores to function more as billboards.
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Luxury
Report: Luxury Sales Dropped 30-50% in March at Mall of the Emirates
The war in Iran is weighing on sales at malls in Dubai and Abu Dhabi, with a 30-50 percent drop in sales and 15 percent drop in footfall at the Mall of the Emirates in March, a source told Reuters. The larger Dubai Mall saw a 50 percent drop in traffic.
Report: Luxury Sales Dropped 30-50% in March at Mall of the Emirates
The war in Iran is weighing on sales at malls in Dubai and Abu Dhabi, with a 30-50 percent drop in sales and 15 percent drop in footfall at the Mall of the Emirates in March, a source told Reuters. The larger Dubai Mall saw a 50 percent drop in traffic.
Luxury
LVMH Shares Fell Most Ever in First Quarter on Luxury Slump
Shares of the luxury bellwether fell 28 percent in the first quarter as the war in the Middle East clouds the global economic outlook and intensifies demand headwinds for luxury goods.
LVMH Shares Fell Most Ever in First Quarter on Luxury Slump
Shares of the luxury bellwether fell 28 percent in the first quarter as the war in the Middle East clouds the global economic outlook and intensifies demand headwinds for luxury goods.
Luxury
How Big Luxury Is Rewiring for the Future
Under scrutiny from top managers and investors, LVMH, Kering and Richemont are re-examining their brand portfolios, organisational structures and store networks.
How Big Luxury Is Rewiring for the Future
Under scrutiny from top managers and investors, LVMH, Kering and Richemont are re-examining their brand portfolios, organisational structures and store networks.
Luxury
Is the Luxury Comeback Still on Track?
War in the Middle East is weighing on prospects for the sector’s rebound, but analysts are sticking to their growth forecasts — for now.
Is the Luxury Comeback Still on Track?
War in the Middle East is weighing on prospects for the sector’s rebound, but analysts are sticking to their growth forecasts — for now.
The News in Brief
Coty’s Perfume Business Takes Another Knock With David Beckham Fragrance Lawsuit
Beauty brand Coty is facing a lawsuit from DB Ventures, the company behind former football star David Beckham’s eponymous fragrance, for what the lawsuit describes as flagrant material breaches of the license agreement, court documents show.
Estée Lauder Sales Rise 2%, Job Cuts to Expand
Double-digit growth in the conglomerate’s perfume division helped offset a lack of growth in its other units as the company continues its years-long turnaround strategy.
Premium Body Care Brand Uni Appoints New Global CMO
Heather Fisher, former chief marketing officer of Fenty Beauty, has joined the Australian body care brand.
Zegna Revenues Rise 7.4%
The Italian luxury group’s first-quarter performance surpassed market expectations powered by solid growth in direct-to-consumer sales in the US.
Inventory Clean-Up Helps Puma Beat First-Quarter Expectations
The German sportswear maker also announced it had appointed former Hugo Boss CEO Mark Langer as its chief financial officer, effective Friday.
Oil Prices Soar to Wartime High with US and Iran Stuck in Standoff
Brent oil surged to more than $126 a barrel on Thursday, before paring gains to $121.40 as traders factor in an even longer closure of the Strait of Hormuz.
Reliance Retail Acquires Priyanka Chopra Jonas’ Hair Care Brand Anomaly
The company will leverage its omnichannel network to scale the label, citing India as a priority market.