PARIS, July 31 (Reuters) – French cosmetics giant L’Oreal
reported a 4.1 percent rise in second-quarter
comparable sales on Thursday, slightly below expectations, and
said growth at its consumer goods division was held up by
sluggish demand in the United States.
L’Oreal, whose brands include Lancome creams and Yves Saint
Laurent perfumes, saw revenue drop 0.7 percent on a reported
basis in the second quarter.
PARIS, July 31 (Reuters) – After four years of refurbishment
work costing 430 million euros, the Peninsula Paris hotel opens
its doors on Friday, promising prince-like treatment to
well-heeled visitors to the French capital.
It is part of a battle to attract Asia’s new class of
super-rich that not only pits the world’s top hotel groups
against each other but also cities such as Paris, New York and
PARIS (Reuters) – The outlook for the luxury goods industry darkened on Friday as poor results from industry leader LVMH (LVMH.PA: Quote, Profile, Research, Stock Buzz) showed how the strong euro and political protests in Hong Kong were major factors curbing spending by Chinese and Russian customers.
Shares in LVMH, seen as setting the tone for the luxury goods industry, fell as much as 7.2 percent on Friday – the biggest one-day drop since 2009, dragging down companies in the sector such as Cartier-owner Richemont, down 3 percent and Gucci-owner Kering (PRTP.PA: Quote, Profile, Research, Stock Buzz), which fell 3.7 percent.
PARIS, July 24 (Reuters) – LVMH has seen a drop in
demand from Chinese buyers in its home market and overseas, as
well as a slowdown in Hong Kong due to political unrest, the
French fashion, spirits and cosmetics group said on Thursday
after posting below-forecast second-quarter sales and profits.
The world’s No.1 luxury group said growth in sales from
Louis Vuitton, its main cash cow, had dropped in China in the
second quarter from the first, while revenues from Chinese
tourists declined in major European markets such as France.
PARIS, July 23 (Reuters) – Sephora, the top seller of Dior
lip gloss and Lancome face creams, is under attack in
continental Europe from far less glamorous competitors:
New data shows specialist beauty retailers such as Sephora,
one of the fastest growing companies at world No. 1 luxury group
LVMH, are losing market share to pharmacies offering
PARIS, July 21 (Reuters) – Top designer Christophe Lemaire
is leaving Hermes in the fall to focus on developing
his eponymous fashion label, the French luxury group said on
Lemaire took over from Jean-Paul Gaultier as the brand’s
artistic director of womenswear in 2010, and his collections
were increasingly gaining praise from fashion critics and
enjoying growing demand from buyers.
PARIS (Reuters) – French luxury goods firm Hermes posted a slowdown in second quarter sales growth, hit by a slump in Japanese demand and adverse changes in foreign exchange rates.
Revenue growth at Hermes (HRMS.PA: Quote, Profile, Research, Stock Buzz), known for its classic Kelly leather bags and printed silk scarves, slid to 5.8 percent from 10.1 percent in the first quarter.
PARIS (Reuters) – As Paris Haute Couture week gathered pace on its second day, Raf Simons offered a walk through history at Christian Dior, with a mix of 18th century-inspired dresses with side hoops and embroidered masculine court coats.
The designer said he was searching for a modern interpretation of fashion codes from centuries past for his fifth haute couture collection since he was appointed Dior’s chief designer in 2012 to replace John Galliano.
PARIS (Reuters) – Seaweed may not be the first ingredient that springs to mind for perfume. But algae are among obscure ingredients to which perfume makers are turning to preserve the scent of their fragrances in the face of new EU anti-allergy restrictions.
The global high end perfume industry, generating $25 billion (14.5 billion pounds) in annual sales, is readying itself for EU regulations that will come into force in early 2015.
PARIS, July 7 (Reuters) – Seaweed may not be the first
ingredient that springs to mind for perfume. But algae are among
obscure ingredients to which perfume makers are turning to
preserve the scent of their fragrances in the face of new EU
The global high end perfume industry, generating $25 billion
in annual sales, is readying itself for EU regulations that will
come into force in early 2015.