ROME/MILAN (Reuters) – Silvio Berlusconi on Saturday condemned outgoing Prime Minister Mario Monti’s plan to lead a centrist alliance in Italy’s election in February, accusing him of a plot to favor the left, but centrist leaders denied any secret accord.
Monti, who replaced Berlusconi as prime minister last year as Italy scrambled to avert a financial crisis, said on Friday he wanted to unite a broad coalition of factions around a reform agenda aimed at easing the country’s economic woes.
MILAN, Dec 19 (Reuters) – Diesel jeans brand founder Renzo
Rosso said on Thursday he was taking control of Italian firm
Marni to relaunch the bohemian-chic fashion house on foreign
Marni will allow Rosso to add an upscale sophisticated brand
to his youth-focused private company, Only The Brave, which also
controls fashion houses Maison Martin Margiela and Victor &
Rolf. Financial details of the deal to buy a majority stake were
MILAN, Dec 12 (Reuters) – Italian coffee roaster Lavazza
expects the United States to overtake Europe as its
second-biggest market behind Italy over the next 10 years, as it
expands in the growing market for single-serve coffee machines.
The Turin-based group founded by the Lavazza family in 1895
expects to return to profit this year after cutting costs and
expanding its presence in foreign markets, chief executive
Antonio Baravalle said on Thursday.
MILAN/HONG KONG, Dec 6 (Reuters) – Wealthy tourists and
overseas growth helped Italian fashion house Prada
beat quarterly profit forecasts, lifting hopes for holiday sales
of its leather bags and colourful dresses despite recession at
The Hong Kong-listed company reported on Thursday a 30
percent rise in third-quarter net profit to 122 million euros
($160 million), topping analysts’ average forecast of 110
million, according to Thomson Reuters Starmine.
FLORENCE, Dec 4 (Reuters) – European luxury goods makers
knocked back predictions of a boost to sales early next year,
saying that economic gloom will continue to discourage shoppers
from splashing out on designer dresses and leather handbags.
Consultancy Bain & Co had said that sales of luxury goods
should pick up steam from the second quarter of 2013 as economic
worries ease, but executives from some of the sector’s top
companies at a fashion summit in Florence said that growth is
likely to continue to slow into the second half of next year.
MILAN, Nov 28 (Reuters) – Italian fashion manufacturing
group Ittierre is close to signing a licence deal with a leading
French group this month, part of an effort to recover from past
financial troubles that includes a new brand porfolio and a
retail overhaul, its head told Reuters.
“We are close to announcing a very important license deal,”
Chief Executive Antonio Bianchi said at Ittierre’s offices. He
declined to discuss details, beyond saying the deal would be
announced soon and that it involved an unlisted, family-run
French company. He also indicated Ittierre was looking at other
ROME (Reuters) – Diesel brand founder Renzo Rosso is considering expanding into jewelery and launching a new project in Japan to fuel growth at his fashion group despite the global economic turmoil.
Known as the “king of high-end casualwear”, the rockstar-looking businessman is one of the most dynamic figures in a fashion industry threatened by a slowdown in its core markets.
ROME (Reuters) – European luxury group executives see the return of Prime Minister Mario Monti at the helm of a new Italian government as the best way to pull the country back from recession, even though his austerity measures have hit their wealthy customers.
Monti, who has headed a non-elected government of technocrats for the past year, has said he prefers to return to academia. But business leaders and some politicians have been prodding him to stay.
MILAN, Nov 13 (Reuters) – Upmarket menswear maker
Ermenegildo Zegna and U.S. cosmetics group Estee Lauder
expect the luxury goods sector to regain vigour after another
difficult year in Europe in 2013.
Family-owned Zegna and Estee Lauder are among luxury goods
makers that have been shielded from the worst of the economic
troubles in Europe by sales in growing markets such as China,
India and Latin America.
TRANI, Italy (Reuters) – Italian prosecutors are seeking trial for seven current and former employees at rating agencies Standard & Poor’s and Fitch over their downgrades of Italy, paving the way for the first European court case over sovereign rating cuts.
Prosecutors in the southern town of Trani, launching a case which bigger Italian courts have refused to back, probed five analysts from S&P and two from Fitch for alleged market manipulation and abuse of privileged information.