PARIS/MILAN May 21 (Reuters) – Italian fashion house Giorgio
Armani on Tuesday said it had not seen a slowdown, even in
China, the industry’s main engine of growth, where rivals noted
more muted demand in recent months.
Armani, owned by its eponymous founder, said revenue rose 16
percent last year to 2.1 billion euros ($2.70 billion) – the
same growth rate as Italian rival Gucci, whose sales
are nearly twice that at 3.65 billion euros.
HONG KONG/PARIS May 20 (Reuters) – France’s Danone
is aiming for a bigger slice of one of the world’s
fastest-growing dairy markets by investing 325 million euros
($417 million) in two deals with China Mengniu Dairy Co Ltd
The world’s biggest yoghurt maker, with brands such as
Actimel and Activia, estimates the Chinese yoghurt market -
currently worth 2 billion euros in annual sales – will more than
double in the next five years.
PARIS/MILAN (Reuters) – Growth in sales of luxury goods is expected to ease slightly this year, hit by subdued spending in Europe and slower growth in China, consultancy Bain & Co said in a study on Thursday.
Bain, whose forecasts are closely watched by the industry, sees luxury goods growth cooling worldwide to 4 to 5 percent in 2013 from 5 percent last year at constant exchange rates.
PARIS (Reuters) – PPR’s (PRTP.PA: Quote, Profile, Research, Stock Buzz) disappointing first-quarter sales have reinforced fears that the luxury goods sector has run out of steam and reached a turning point.
Shares in the French luxury and sports group fell 7 percent on Friday, taking the shine off the rising star of a global industry which boasted average growth rates of more than 10 percent over the past three years.
PARIS, April 25 (Reuters) – PPR on Thursday posted
disappointing first-quarter sales, particularly for its Gucci
fashion label and Puma sports brand, hit by sluggish trading in
Europe and slower growth in China.
The French group, which also owns fashion houses Yves Saint
Laurent and Bottega Veneta, said it was not seeing any signs of
improvement in China, the luxury industry’s main engine of
PARIS, April 24 (Reuters) – PPR is buying Milanese
jeweller Pomellato with the aim of developing it into a global
brand and expanding the French luxury and sports group’s
presence in the jewellery market.
The group, which already owns Boucheron and acquired China’s
Qeelin last year, said it was looking for further opportunities
in the branded jewellery sector.
PARIS, April 22 (Reuters) – French luxury brand Hermes
on Monday promised sales of leather goods and watches
should improve later this year after growth undershot forecasts
in the first quarter, partly depressed by a crackdown on gifts
for Chinese officials.
Hermes, known for its 13,000-euro Birkin leather bags,
generated first-quarter revenue of 856.8 million euros ($1.12
billion), up 12.8 percent at constant currencies, ahead of
analysts’ expectations of 11 percent.
PARIS, April 16 (Reuters) – Louis Vuitton sales in Europe
have been hit by a drop in demand, particularly from Asian
tourists, while China has been sluggish with no sign of
improvement, its parent LVMH said on Tuesday.
“At this point in time, we miss demand from the Asian part
of the world,” LVMH Chief Financial Officer Jean-Jacques Guiony
said about Louis Vuitton’s performance in a conference call with
analysts and investors on LVMH’s first-quarter sales.
PARIS (Reuters) – LVMH (LVMH.PA: Quote, Profile, Research, Stock Buzz) reported the lowest quarterly sales growth since 2009 on Monday at its fashion and leather division dominated by Louis Vuitton, the world’s biggest luxury brand by sales.
The world No.1 luxury goods group, which also owns Hennessy cognac and champagne leader Moet & Chandon, achieved a revenue rise of 3 percent at its fashion and leather unit in the first quarter, below the 5 percent expected on average by analysts.
PARIS, April 15 (Reuters) – LVMH reported the
lowest quarterly sales growth since 2009 on Monday at its
fashion and leather division dominated by Louis Vuitton, the
world’s biggest luxury brand by sales.
The world No.1 luxury goods group, which also owns Hennessy
cognac and champagne leader Moet & Chandon, achieved a revenue
rise of 3 percent at its fashion and leather unit in the first
quarter, below the 5 percent expected on average by analysts.