FR:MC – The News Desk

Hermès Shines in a Scruffy Luxury Market

30Dec

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Money

Hermès Shines in a Scruffy Luxury Market

Hermès is a brand that shows its real mettle in a downturn. The secret to its steady growth might be the restraint it shows in good times. The French handbag maker’s shares gained 33% in 2023, making it the luxury sector’s best-performing stock. Parisian rival LVMH Moët Hennessy Louis Vuitton, which owns Christian Dior and is also considered one of the safest bets in luxury, rose 8%. But across the industry, most large European luxury stocks ended 2023 in the red as demand for expensive baubles sputtered following a record three-year shopping binge. Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8

10Nov

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Money

Coach Saves Tapestry From Unraveling

Luxury demand isn’t quite what it used to be. Neither is demand for accessible luxury, but it seems strong enough that brands like Coach are still able to push through price hikes.Coach owner Tapestry, which also owns Kate Spade and Stuart Weitzman, reported revenue growth of 0.4% in its quarter ended Sept. 30, weaker than Wall Street expectations of 2% growth. This follows worse-than-expected sales performance at European luxury powerhouses such as Gucci owner Kering and Louis Vuitton owner LVMH. But Tapestry’s adjusted earnings of $0.93 a share was higher than expectations of $0.90.Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8

Ozempic Maker Novo Nordisk Has a Weight Problem

23Oct

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Money

Ozempic Maker Novo Nordisk Has a Weight Problem

Oct. 23, 2023 11:39 am ETThe company behind diabetes and obesity phenomena Ozempic and Wegovy is overweight.Novo Nordisk became Europe’s most valuable company last month, overtaking luxury goods maker LVMH, which itself took the title from food company Nestlé in 2021. All three companies are global stars that dominate the small European stages where they play, but the Danish drug company is now an extreme case. This might be a reason why the shares trade at a discount to those of its closest peer, U.S.-listed Eli Lilly.Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8

A Gilded Age is Fading for Luxury Brands

11Oct

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Money

A Gilded Age is Fading for Luxury Brands

The latest results from Louis Vuitton owner LVMH show that luxury shoppers are sobering up after years of heavy spending.

Sales Slow at Louis Vuitton's Owner as China Sputters

10Oct

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World

Sales Slow at Louis Vuitton's Owner as China Sputters

LVMH Moët Hennessy Louis Vuitton, the world’s biggest luxury-goods company, struggled to lure big-spending Chinese consumers back to its boutiques after the end of China’s pandemic restrictions.

LVMH CEO Arnault Is Subject of French Probe Over Deal With Russian Businessman

29Sep

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World

LVMH CEO Arnault Is Subject of French Probe Over Deal With Russian Businessman

Prosecutors say a preliminary investigation has been under way since 2022.

America's New Fashion Powerhouse Is Still Dwarfed by Europe's Luxury Giants

10Aug

By adminNo Comments

World

America's New Fashion Powerhouse Is Still Dwarfed by Europe's Luxury Giants

Tapestry’s $8.5 billion acquisition of Capri would create a conglomerate with more than $12 billion in annual sales, but it would still lack the high-wattage labels and diversity that have fueled LVMH’s success.