European Luxury Goods Correspondent
Astrid's Feed
Jul 30, 2015

L’Oreal says sales growth to accelerate in H2

PARIS (Reuters) – French cosmetics group L’Oreal (OREP.PA: Quote, Profile, Research, Stock Buzz) sees sales growth accelerating in the second half as demand in Western Europe and the United States improves.

The world’s biggest cosmetics group said on Thursday positive exchange rate movements helped to produce its strongest revenue growth in twenty years in reported terms, or a year-on-year increase of 15.3 percent, in the second quarter.

Jul 28, 2015

Actress Birkin asks Hermes to remove her name from croc bag

PARIS (Reuters) – Actress and singer Jane Birkin has asked Hermes to remove her name from one of the luxury goods maker’s best-selling bags due to what she called “cruel” crocodile farming and slaughtering practices.

“I have asked Hermes to rename the Birkin Croco until they adopt better practices that meet international standards for the production of this bag,” Birkin said in a statement to the media on Tuesday.

Jul 27, 2015

Kering’s Gucci produces unexpected rebound in sales

PARIS (Reuters) – Gucci, the flagship brand of French luxury and sportswear group Kering (PRTP.PA: Quote, Profile, Research, Stock Buzz), posted a 4.6 percent rise in underlying second-quarter sales on Monday, marking a much sooner than expected rebound under its new creative and management duo.

Kering Finance Director Jean-Marc Duplaix said the brand had benefited from strong demand from Chinese tourists in Japan and Western Europe, while Gucci’s sales in China were boosted by discounted sales of its previous designer’s collections.

Jul 27, 2015

Kering’s Gucci makes unexpected rebound in Q2

PARIS, July 27 (Reuters) – Gucci, the flagship brand of
French luxury and sportswear group Kering, posted a
4.6 percent rise in underlying second-quarter sales on Monday,
marking a much sooner-than-expected rebound under its new
creative and management duo.

Kering Finance Director Jean-Marc Duplaix said the brand had
benefited from strong demand from Chinese tourists in Japan and
Western Europe, while Gucci’s sales in China were boosted by
discounted sales of its previous designer’s collections.

Jul 16, 2015

Insight – Becht to lead Coty/P&G beauty merger despite industry doubts

PARIS (Reuters) – Coty Inc’s (COTY.N: Quote, Profile, Research) boss Bart Becht believes he is the right man to run what will become the world’s biggest perfume maker, despite industry doubts over its planned mega-merger and faltering sales at the beauty products group.

With Coty due to gobble up Procter & Gamble’s (PG.N: Quote, Profile, Research) beauty business for $12.5 billion (8 billion pounds), Becht has no intention of seeking anyone else to lead the expanded group where he is both chairman and chief executive following a series of high-level departures.

Jul 16, 2015

Becht to lead Coty/P&G beauty merger despite industry doubts

PARIS, July 16 (Reuters) – Coty Inc’s boss Bart
Becht believes he is the right man to run what will become the
world’s biggest perfume maker, despite industry doubts over its
planned mega-merger and faltering sales at the beauty products
group.

With Coty due to gobble up Procter & Gamble’s beauty
business for $12.5 billion, Becht has no intention of seeking
anyone else to lead the expanded group where he is both chairman
and chief executive following a series of high-level departures.

Jul 9, 2015

Coty buying P&G beauty business for $12.5 billion

By Astrid Wendlandt and Siddharth Cavale

(Reuters) – Coty Inc (COTY.N: Quote, Profile, Research, Stock Buzz), the U.S. maker of Calvin Klein and Chloe perfume, will buy Procter & Gamble’s (PG.N: Quote, Profile, Research, Stock Buzz) perfume, hair care and make-up businesses for $12.5 billion in the biggest cosmetics merger in recent history.

Coty would become the No. 1 perfume maker ahead of L’Oreal (OREP.PA: Quote, Profile, Research, Stock Buzz) and No. 3 make-up provider behind its French rival and Estee Lauder (EL.N: Quote, Profile, Research, Stock Buzz). It would run the perfume licenses of Gucci, Hugo Boss and Dolce & Gabbana as well as make-up brands Cover Girl and Max Factor, more than doubling its size with combined sales of more than $10 billion.

Jun 17, 2015

Coty on track to clinch P&G beauty deal in coming weeks-sources

PARIS, June 16 (Reuters) – Coty is on track to
acquire Procter & Gamble’s beauty business in a $12
billion deal that would make the U.S. cosmetic company the world
leader in perfume and hair care, sources close to the matter
said.

If the deal goes though, Coty would get its hands on brands
such as Gucci and Hugo Boss perfume, Wella and Clairol hair care
products and Max Factor and Cover Girl make-up, part of its
strategy to reverse its own declining sales trends.

Jun 16, 2015

Coty purchase of P&G assets may take two weeks to finalise-sources

PARIS June 16 (Reuters) – Details of U.S. cosmetic company
Coty’s acquisition of Proctor & Gamble’s (P&G)
beauty assets could take at least two weeks to be finalised,
sources close to the matter said on Tuesday.

Coty won an auction at the weekend valuing the businesses at
close to $12 billion, the sources said. If it goes through, it
would be the biggest deal in cosmetics in at least a decade and
would turn Coty into a world leader in perfume and hair care.

Jun 11, 2015

Fashion brand Bally back on growth path, says CEO

MONACO (Reuters) – Bally, the long-struggling Swiss leather goods maker, is back in growth mode after years of stagnant sales, buoyed by more contemporary designs and solid demand from Japanese and U.S. buyers, its chief executive said.

Frederic de Narp said he aimed to lift Bally’s annual sales to 1 billion euros ($1.13 billion) within 5-10 years from its current level of 400 million euros.

    • 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."
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