European Luxury Goods Correspondent
Astrid's Feed
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.

Oct 14, 2014

Luxury group LVMH posts improved Q3 sales growth

PARIS, Oct 14 (Reuters) – LVMH, 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.

Oct 14, 2014

Global luxury goods sales growth to stabilise in 2015 – Bain

PARIS, Oct 14 (Reuters) – Growth in the global luxury goods
market will be steady next year at 2014 levels, or around 5
percent at constant exchange rates, with the whole of America
and Japan the biggest drivers, consultancy Bain & Co said in a
report published on Tuesday.

The personal luxury goods industry has been through a
slowdown since 2011 in part due to flagging demand in China
where the government has cracked down on gift-giving, and
economic weakness in Europe.

Oct 13, 2014

Jimmy Choo narrows IPO price to bottom half of range-sources

LONDON, Oct 13 (Reuters) – Luxury shoe maker Jimmy Choo
expects its initial share sale to be priced between
140 pence and 160 pence a share, the bottom half of its
preliminary guidance of 140-180 pence, two sources familiar with
the matter said on Monday.

That would value the company, which is aiming to list a 25
percent stake in London, at up to 624 million pounds ($1
billion), below the initial top target of 702 million.

Oct 7, 2014

Coty to buy Chanel’s Bourjois cosmetics brand in shares

PARIS (Reuters) – US cosmetics group Coty (COTY.N: Quote, Profile, Research, Stock Buzz) said on Tuesday it had made a binding offer to buy French make-up brand Bourjois from Chanel and give the family-owned French luxury company a stake in Coty worth an estimated $240 million.

The deal would mean Chanel, the world’s second-biggest luxury brand behind LVMH’s (LVMH.PA: Quote, Profile, Research, Stock Buzz) Louis Vuitton, would get a stake in Coty of around 4.2 percent, according to Reuters data.

Oct 6, 2014

Listing could value Jimmy Choo at up to $1.1 billion: sources

LONDON/PARIS (Reuters) – Luxury shoe maker Jimmy Choo (IPO-JIM.L: Quote, Profile, Research, Stock Buzz) is on course to join London’s main stock market next week with a value of up to $1.1 billion, industry sources said, citing the initial price range quoted by banks arranging the sale.

The company, whose shoes are worn by celebrities across the globe and cost several hundred pounds a pair, is hoping to sidestep the turmoil that has hit some luxury brands following pro-democracy demonstrations in Hong Kong by pointing to its industry-beating sales growth and expansion plans in Asia.

Oct 6, 2014

Listing could value Jimmy Choo at up to $1.1 bln-sources

LONDON/PARIS, Oct 6 (Reuters) – Luxury shoe maker Jimmy Choo
(IPO-JIM.L: Quote, Profile, Research, Stock Buzz) is on course to join London’s main stock market next
week with a value of up to $1.1 billion, industry sources said,
citing the initial price range quoted by banks arranging the
sale.

The company, whose shoes are worn by celebrities across the
globe and cost several hundred pounds a pair, is hoping to
sidestep the turmoil that has hit some luxury brands following
pro-democracy demonstrations in Hong Kong by pointing to its
industry-beating sales growth and expansion plans in Asia.

Oct 6, 2014

Ex-Dior designer John Galliano joins Maison Martin Margiela

PARIS, Oct 6 (Reuters) – Fashion brand Maison Martin
Margiela has hired ex-Christian Dior star designer John Galliano
as its new creative director, its parent group Only the Brave,
owner of jeans brand Diesel, said on Monday.

Galliano, one of the most flamboyant and successful
designers in the fashion industry, was sacked in 2011 by LVMH
, parent of Dior and his eponymous brand, after a video
showed him making anti-semitic comments in a Paris bar.

Sep 30, 2014

Agent Provocateur CEO says luxury lingerie brand bucks slowdown

PARIS, Sept 30 (Reuters) – Lingerie provider Agent
Provocateur is seeing brisk business in Russia, Hong Kong and
China, contrary to many other luxury brands, and is rolling out
a second line co-designed by actress Penelope Cruz and her
sister Monica, its head said.

Agent Provocateur, recently put up for sale by its private
equity controlling shareholder, 3i, has enjoyed
same-store sales growth of 17 percent since January, Chief
Executive Garry Hogarth said.

    • 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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