European Luxury Goods Correspondent
Astrid's Feed
Dec 14, 2014

Big perfume makers smell threat from niche scents

PARIS, Dec 14 (Reuters) – The first thing one sees on
entering Guerlain’s perfume shop in Paris’ Champs Elysees is the
French brand’s exclusive collection – Les Parisiennes – which
costs 200 euros ($250) a bottle and is sold only in a few dozen
shops around the world.

Les Parisiennes and other limited editions are Guerlain’s
answer to the myriad small, niche perfume brands invading the
$26-billion fragrance industry and starting to steal market
share from big labels.

Dec 12, 2014

Gucci ousts leadership duo after sales decline

PARIS (Reuters) – The owners of Gucci parted company with the Italian fashion brand’s leadership duo on Friday, promoting the head of their luxury goods business to the top job in response to slumping sales.

Gucci, which provides the bulk of operating income for parent company Kering (PRTP.PA: Quote, Profile, Research, Stock Buzz), had long said that declining sales were a result of trying to move the brand further upmarket and tough trading, particularly in China.

Nov 26, 2014

Net-a-porter founder could bag more than 100 mln euros in 2015

PARIS, Nov 26 (Reuters) – Net-a-porter founder Natalie
Massenet stands to make more than 100 million euros ($125
million) next year under a deal with the online fashion
retailer’s owner Richemont, according to calculations
based on company documents and analyst valuations.

Massenet, executive chairman of Net-a-porter, is gathering
estimates on the value of the business from potential bidders
and bankers, financial advisers said.

Nov 17, 2014

Analysis – Gucci needs new ideas, talents to combat brand fatigue

PARIS (Reuters) – Gucci holds the luxury spending downturn mainly responsible for its poor performance but the Italian fashion brand may also have itself to blame, suggesting it could be time to change strategy and hire fresh talent.

Every major luxury goods maker has been hit by the worst spending slump in five years as concerns about economic growth and conflicts in the Middle East and Ukraine hampered demand from the Chinese, Russians and Europeans.

Nov 17, 2014

Gucci needs new ideas, talents to combat brand fatigue

PARIS (Reuters) – Gucci holds the luxury spending downturn mainly responsible for its poor performance but the Italian fashion brand may also have itself to blame, suggesting it could be time to change strategy and hire fresh talent.

Every major luxury goods maker has been hit by the worst spending slump in five years as concerns about economic growth and conflicts in the Middle East and Ukraine hampered demand from the Chinese, Russians and Europeans.

Nov 12, 2014

Burberry says foreign exchange impact to fade

PARIS, Nov 12 (Reuters) – British luxury brand Burberry
said the impact of foreign exchange rates would fade
after weighing on profit and sales in the first half of its
financial year.

The fashion company, which has launched a high-profile
Christmas campaign featuring 12-year-old Romeo Beckham, son of
soccer star David and designer Victoria, said trading remained
tough, “with pockets of weakness in Europe.”

Oct 23, 2014

Gucci says sales trends still negative but on the mend

PARIS (Reuters) – Sales trends at Italian fashion brand Gucci showed signs of turning the corner in the third quarter, particularly in major markets such as western Europe and China, despite remaining negative, owner Kering said on Thursday.

Kering said demand in China had started to return since the second quarter and added that appetite for the brand from local consumers in western Europe was also getting stronger.

Oct 23, 2014

Gucci third-quarter sales trends still negative but improving

PARIS, Oct 23 (Reuters) – Sales trends at Italian fashion
brand Gucci improved in the third quarter, particularly in major
markets such as western Europe and China, but remained negative,
owner Kering said on Thursday.

Kering said demand in China had started to return since the
second quarter and added that appetite for the brand from local
consumers in western Europe was also getting stronger.

Oct 16, 2014

Jimmy Choo seen pricing London float at bottom of range

LONDON/PARIS (Reuters) – Luxury shoemaker Jimmy Choo [IPO-JIM.L] is expected to set its London flotation price at 140 pence a share, the bottom of its indicative range, two sources familiar with the matter said on Thursday, amid declining enthusiasm for new issues.

The price values the company at 546 million pounds ($874 million), well below the initially hoped for top market value of 702 million pounds. The firm had first set a price range of 140-180 pence before narrowing it to 140-160 pence earlier this week. Trading is due to begin on Friday.

Oct 14, 2014

Luxury group LVMH posts improved third quarter sales growth

PARIS (Reuters) – LVMH (LVMH.PA: Quote, Profile, Research, Stock Buzz), the world’s biggest luxury group, posted improved sales growth for the third quarter on Tuesday as stronger trading in Europe and the United States helped make up for weakness in Asia.

The Paris-based group, which owns leather goods maker Louis Vuitton and Hennessy cognac, said comparable sales growth reached 4 percent in the three months to Sept. 30, in line with analysts’ expectations.

    • 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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