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The Latest Breaking News from LVMH

Gucci’s Sales Growth Eases in Q2 as China Lockdowns Weigh

Gucci's sales growth eases in Q2 as China lockdowns weigh Sales at French luxury group Kering's top brand Gucci rose by just 4% in the second quarter, the group said on Wednesday, as a new round of lockdowns weighed on revenues in the key Chinese market. Overall sales for Kering,…

Asharq Al-Awsat

Glossier is coming to Sephora stores in 2023

The brand is best known for its Cloud Paint blush and Boy Brow eyebrow gel

The Independent UK

LVMH Q2 Sales Climb 19%, Offsetting Slower China

Sales at LVMH, the world's largest luxury group, rose by 19% in the three months to June, as robust growth in the US and China helped it offset a new round of lockdowns in China. LVMH, which owns dozens of high-end labels such as Tiffany, said sales came to 18.73…

Asharq Al-Awsat

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American tourists splurge in Paris boutiques as euro slides

American tourist Shawna Wilson says she has splashed out on four dresses at the high-end LVMH-owned department store La Samaritaine in Paris, tempted by the prices as the euro reached parity with the U.S. dollar.

Reuters

Dior Withdraws Valentino Compensation Demand over Glitzy Rome Show, Source Says

LVMH-owned Dior has withdrawn a request for 100,000 euros in compensation from rival fashion label Valentino for allegedly blocking access to its Rome store with a celebrity-packed runway show on the city's Spanish Steps, a source told Reuters. Citing a letter from Dior, the source familiar with the matter said…

Asharq Al-Awsat

Sephora is permanently leaving Russia

News of the exit comes as Russia’s war on Ukraine approaches its sixth month

The Independent UK

LVMH’s Sephora to Sell its Russian Subsidiary

LVMH's retail beauty brand Sephora is selling its Russian subsidiary to the local general manager of the chain, the French company said on Monday, joining a flood of Western businesses leaving the country. Sephora, which has 88 stores in Russia with 1,200 employees, will now operate under the "Ile de…

Asharq Al-Awsat

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Uber offered shares to media barons for political help, leak reveals

Tech firm wooed owners of publications in Europe and India as it sought favourable treatment from governments, documents show

The Guardian - UK

Kenzo channels preppy, Celine goes for razzmatazz in Paris

Kenzo’s designer, Nigo, found his groove for his sophomore collection at the LVMH-owned house, drawing vibrant parallels with house founder Kenzo Takada

The Independent UK

Kenzo Designer Dazzles Paris with Color, Preppy Styles

Kenzo’s designer, Nigo, found his groove for his sophomore collection at the LVMH-owned house, drawing vibrant parallels with house founder Kenzo Takada. Nigo has made history as the first Japanese designer to front the house since Takada, who died in 2020. But beyond the fashion, Nigo — who has made…

Asharq Al-Awsat

S.S. Daley: ‘The Harry Styles effect put our brand in a different lane’

He won the €300,000 LVMH Prize for young fashion designers last week. Now Steven Stokey-Daley is ready to invest in his future

Evening Standard

How The Tables Have Turned: Could Elon Musk Be 'Forced' To Buy Twitter?

The uncertainty around the Twitter, Inc. (NYSE: TWTR) deal has intensified ever since Elon Musk announced on the company's namesake platform that the deal had been put on hold.

Benzinga

Lex in depth: why the luxury market needs to hedge against China

A shift in spending habits in Asia and a crackdown on wealth by Beijing threaten a profit squeeze for high-end brands

Financial Times

The world’s top 10 billionaires: Who are they, what is their net worths and how did they build their fortunes?

The rate of billionaires increases year on year, with the current number at 2,755 billionaires worldwide, according to Forbes magazine.

Evening Standard

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Radio France Internationale

Luxury goods market on a high, despite conflict, pandemic

Global luxury brands have posted strong results for the first quarter of this year despite global hardships including the conflict in Ukraine, inflation and Covid restrictions in Asia. This comes on the back of an exceptional year in 2021.

The Hindu

Jean-Christophe Babin: watch CEO and a social media star

Jean-Christophe Babin is rewriting the future of the watch fair, gave the world its thinnest mechanical watch this year and gets what the digital age is all about

The Guardian - UK

Birkenstock and Manolo Blahnik: is this the most unlikely fashion pairing ever?

The maker of comfy sandals has hired Blahnik – famed for its luxury stilettos – to jazz up its women’s range. Stand by for a £415 fuchsia version with a sparkly buckle

ABC News

The multi-trillion-dollar fashion industry is halting sales in Russia, including Australian brands

With the war in Ukraine rapidly deteriorating, superannuation funds and mining companies have been withdrawing assets from Russia. But another multi-trillion-dollar global industry is facing public pressure too.

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Radio France Internationale

Top French designers 'temporarily' stop business in Russia over Ukraine war

French luxury giants LVMH, Hermes and Chanel have announced that they will temporarily close their shops in Russia starting this weekend. The move comes as a reaction to Moscow's decision to invade Ukraine on 24 February.

Input

Louis Vuitton’s owner, LVMH, is reportedly looking to buy Ralph Lauren

Another blockbuster deal could follow the $15.1 billion acquisition of Tiffany.

Asharq Al-Awsat

Louis Vuitton to Ramp up Production in France with 2 New Sites

Louis Vuitton, the world's largest luxury label and part of LVMH Moët Hennessy Louis Vuitton, plans to ramp up production in France, with two new sites scheduled to open before the end of the year, LVMH boss Bernard Arnault said on Tuesday. "We are at the end - I hope…

Asharq Al-Awsat

Luxury Sector Undaunted by Covid, Soaring Inflation

The pandemic and soaring inflation have done nothing to take the shine off luxury brands, from Louis Vuitton to Gucci and Cartier, as the sector hiked prices to notch up stellar profits. The world economy began to recover from the pandemic last year but the rebound has been accompanied by…

Input

Louis Vuitton’s bags and clothes are about to get even more expensive

The price increase goes into effect on Wednesday — thanks to inflation and higher production costs.

Asharq Al-Awsat

Louis Vuitton Set to Raise Price Tags This Week as Costs Climb

Louis Vuitton, LVMH's top fashion brand, will raise prices globally on Wednesday as a result of increased manufacturing and transportation costs, a spokesperson for the French luxury goods company in China told Reuters. Louis Vuitton, the world's biggest luxury brand, will become one of the first big labels in the…

Asharq Al-Awsat

French Luxury Houses Give Unsold Goods a Second Chance

In the extravagant world of the French luxury industry, brands used to prefer destroying their unsold goods rather than offering their high-priced products at a discount. But gone are the days of binning the coats, handbags and shoes pooh-poohed by shoppers after a new anti-waste law came into force at…

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