European Luxury Goods Correspondent
Astrid's Feed
Apr 23, 2015

Analysis – Online store merger prods luxury goods makers towards Internet

PARIS (Reuters) – The merger of the world’s two biggest online fashion stores, Net-a-Porter (NAP) and Yoox, sends a warning to luxury brands to embrace the Internet with more vim after years of resistance.

Top brands such as Prada and LVMH’s Christian Dior still baulk at the idea of selling clothing online as well as through their plush boutiques.

Apr 23, 2015

Online store merger prods luxury goods makers toward Internet

PARIS (Reuters) – The merger of the world’s two biggest online fashion stores, Net-a-Porter (NAP) and Yoox, sends a warning to luxury brands to embrace the Internet with more vim after years of resistance.

Top brands such as Prada and LVMH’s Christian Dior still baulk at the idea of selling clothing online as well as through their plush boutiques.

Apr 22, 2015

Richemont warns of profit drop on derivative losses

PARIS, April 22 (Reuters) – Cartier-owner Richemont
has warned of a sharp downturn in yearly earnings due to a
worse-than-expected performance and investment losses on its 5.4
billion euros ($5.8 billion) cash pile, playing down the drop as
due to non-cash accounting factors.

However some analysts said there were also signs of an
underlying deterioration at the world’s No. 2 luxury group,
whose shares were down 1.6 percent by 0750 GMT.

Apr 21, 2015

Kering’s Gucci posts bigger-than-expected first-quarter sales drop

PARIS (Reuters) – Kering’s (PRTP.PA: Quote, Profile, Research, Stock Buzz) Gucci posted a steeper-than-expected decline in first-quarter sales on Tuesday, which it blamed on a transition period as its flagship brand works to regain momentum under a new creative and management duo.

Gucci, which accounts for nearly 60 percent of Kering’s operating profit, saw comparable sales fall nearly 8 percent in the three months to March 31, while analysts had expected a drop of 3-6 percent.

Apr 21, 2015

Kering’s Gucci posts bigger-than-expected Q1 sales drop

PARIS, April 21 (Reuters) – Kering’s Gucci posted
a steeper-than-expected decline in first-quarter sales on
Tuesday, which it blamed on a transition period as its flagship
brand works to regain momentum under a new creative and
management duo.

Gucci, which accounts for nearly 60 percent of Kering’s
operating profit, saw comparable sales fall nearly 8 percent in
the three months to March 31, while analysts had expected a drop
of 3-6 percent.

Apr 15, 2015

Burberry could adjust prices to offset currency swings

PARIS (Reuters) – British luxury goods maker Burberry (BRBY.L: Quote, Profile, Research, Stock Buzz) will adjust prices in response to currency fluctuations and similar moves by rivals, it said on Wednesday as it posted a forecast-beating 9 percent rise in second-half revenue.

Several luxury brands including Chanel, Richemont’s (CFR.VX: Quote, Profile, Research, Stock Buzz) Cartier and Patek Philippe have moved to harmonize their prices globally following the rise of the U.S. dollar, the weakness of the euro and the surge in the Swiss franc earlier this year.

Apr 15, 2015

Burberry to adjust prices to offset currency fluctuations

PARIS, April 15 (Reuters) – British luxury goods maker
Burberry will adjust prices in response to currency
fluctuations and rivals’ similar moves, it said on Wednesday as
it posted a forecast-beating 9 percent rise in second-half
revenue.

Several luxury brands including Chanel, Richemont’s
Cartier and Patek Philippe have moved to harmonise their prices
globally following the rise of the U.S. dollar, the weakness of
the euro and the surge in the Swiss franc earlier this year.

Apr 11, 2015

Backlogged orders as shoppers get close-up look at Apple Watch

SAN FRANCISCO/PARIS (Reuters) – Customers preordering Apple Inc’s smartwatch on Friday will have to wait at least a month for delivery, a sign of strong early demand for company chief Tim Cook’s first new major product.

People flocked to Apple’s stores around the world to get a close-up look at the Apple Watch, the tech company’s foray into the personal luxury goods market, with Apple predicting demand would exceed supply at product launch.

Apr 10, 2015

Strong turnout as shoppers get to try Apple Watch

PARIS/SYDNEY (Reuters) – Consumers flocked to Apple Inc’s (AAPL.O: Quote, Profile, Research, Stock Buzz) stores around the world on Friday to get the first close-up look at the tech giant’s smartwatch, which the company expects will be its next runaway hit.

The Apple Watch, CEO Tim Cook’s first new major product and the company’s first foray into the personal luxury goods market, was available for pre-order online and to try out in stores — but not to take home.

Apr 6, 2015

French commandos free Dutch hostage from al Qaeda in Mali

PARIS (Reuters) – French commandos freed a Dutch hostage from an al Qaeda-linked group in Mali on Monday, more than three years after he was taken captive while on holiday with his wife, French and Dutch officials said.

Sjaak Rijke, a 54-year-old train conductor who was kidnapped in Timbuktu in November 2011, was freed in a pre-dawn raid and has been transferred “safe and sound” to a temporary base in Tessalit, in north-east Mali. His wife had escaped armed gunmen, who took three captives.

    • About Astrid

      "Astrid is based in Paris and leads the team of correspondents across Europe who cover luxury and fashion. Previously, she was TMT correspondent. Before joining Reuters, she wrote for the Financial Times as UK companies news correspondent and before that as Moscow correspondent. She started her career in journalism in the mid-1990s as a business reporter for the Moscow Times, an English-language daily published in the Russian capital."
    • Follow Astrid