The French cosmetics giant, which owns the Maybelline and Lancôme brands, reported sales of 11.24 billion euros ($11.98 billion) for the first three months to the end of March. The sales growth exceeded a consensus of a 6.1 percent rise cited by analysts at Jefferies. Sales were up 8.3 percent on a reported basis. L’Oréal, […]
L’Oréal Q1 Sales up 9.4% on Strong Mass Market Demand Read More »
At its annual meeting Thursday, LVMH shareholders approved the luxury conglomerate’s proposal to add two more of chairman Bernard Arnault’s children to its board of directors. Alexandre Arnault, aged 31, will serve on the board in addition to his current role as Tiffany’s executive vice president for product and communications. 29 year-old Frédéric Arnault, chief
With Succession in Focus, LVMH Adds Alexandre and Frédéric Arnault to Board Read More »
Billionaire Bernard Arnault said he hopes a planned visit to France next month by China’s Xi Jinping will help smooth trade relations between Paris and Beijing. “I hope the economic tensions will quiet down and that we can continue a solid economic collaboration with China,” Arnault, the chief executive officer of LVMH Moet Hennessy Louis
Arnault Says He Hopes Tensions With China on Luxury Quiet Down Read More »
Vita Liberata, the premium tanning brand known for its organic formulas, has been acquired by its founder, the Irish businesswoman Alyson Hogg for less than $12 million. Vita Liberata makes both consumer and professional products. Hogg sold the business to Crown Laboratories in 2018. At the time of its original acquisition, Vita Liberata was generating
Vita Liberata Bought Back By Founder Read More »
Monthly Swiss watch exports suffered their biggest decline since 2020 as demand for premium and luxury timepieces in key markets including China and Hong Kong plunged. Exports dropped 16 percent by value in March to 2 billion Swiss francs ($2.2 billion) from a year earlier, the Federation of the Swiss Watch Industry said Thursday. Shipments
Swiss Watch Exports Plunge as China and Hong Kong Demand Dries Up Read More »
MILAN — This year’s Salone del Mobile — the monumental design fair ending Sunday in Milan — features nearly 2,000 design companies and is set to welcome over 300,000 visitors, including design professionals, retailers, press and wealthy clients. But for fashion brands, the action happens “fuori-Salone,” where the number of satellite events around the city
Fashion and Design Collide at Salone Del Mobile Read More »
Last week, Rent the Runway got a taste of what it’s like to be the hottest start-up in fashion again. After reporting along with quarterly results that it expected by the end of the year to be free cash flow breakeven, a key profitability milestone, the company’s stock shot up, at one point trading at
How Rent the Runway Came Back From the Brink Read More »
The golden era of “festival fashion” may be over, but beauty brands are finding ways to tap into music-event marketing as they look not just to Coachella but Stagecoach, Live Nation and beyond. Beauty labels led influencer trips and promotions on Coachella’s first weekend, which ran from April 12 – 14, with both essential products
From Coachella to Stagecoach: Inside Beauty’s Big Bet on Festival Season Read More »
Asos has said it will take “necessary actions” to transform its fortunes after the fast fashion retailer’s first-half losses widened and sales fell by nearly a fifth. The company reported an 18 percent drop in sales year on year for the first six months to 3 March. This contributed to an underlying pre-tax loss of
Asos Says It Will Take ‘Necessary Actions’ After 18% Drop in Sales Read More »
The effort to force TikTok’s Chinese parent company ByteDance Ltd to divest its ownership of the social media platform would quickly become law under a plan outlined Wednesday by House Speaker Mike Johnson. Johnson intends to include the divest-or-ban bill in a package of fast-moving bills that provide new aid for Ukraine and Israel. The
TikTok Divest-or-Ban Bill Heads to Fast Track in US Congress Read More »
