European Luxury Goods Correspondent
Astrid's Feed
Jan 26, 2015

Raf Simons goes psychedelic at Christian Dior haute couture

PARIS (Reuters) – Christian Dior went psychedelic on Monday, kicking off the first full day of Haute Couture week in Paris with a collection mixing styles, prints and fabrics reminiscent of the 1960s and 1970s.

Raf Simons, the French brand’s designer for nearly three years, said he was inspired by “the romance of a near past, when space-age and mind-expanding ideas of a future felt full of possibilities for society, pop culture and fashion”.

Jan 22, 2015

Ousted Sanofi CEO gets 4.44 mln eur severance package

PARIS, Jan 22 (Reuters) – European pharmaceuticals group
Sanofi on Thursday said it had agreed to pay 4.44
million euros ($5.06 million) in total to ousted chief executive
Chris Viehbacher.

Viehbacher, who left in October, will receive a payment of
2.96 million euros, which corresponds to his fixed and variable
compensation for the year, Sanofi said in a statement.

Jan 20, 2015

Cartier to raise prices in euro zone after Swiss franc soars

GENEVA (Reuters) – Richemont’s flagship Cartier brand will increase prices for watches and jewelry by five percent in the euro zone to limit the damage to its margins following the surge in the Swiss franc.

Swiss companies have warned of a plunge in exports, tourist revenues and profits after the country’s central bank last week scrapped its cap on the Swiss franc, sending the currency soaring up to 30 percent.

Jan 4, 2015

Club Med set to back Chinese bid this week

PARIS, Jan 4 (Reuters) – French holiday company Club
Mediterrannee is expected to back an offer from a
consortium led by Chinese billionaire Guo Guangchang this week
after Italian rival bidder Andrea Bonomi declined to raise his
offer on Friday.

Bonomi’s decision puts an end to the longest-running bid
battle in recent French corporate history and removes
uncertainty over the future of struggling Club Med, which is
fighting weaker demand in Europe and heavy restructuring costs.

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.”

    • 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."
    • Follow Astrid