Free-spending tourists in Europe are expected to drive brisk second quarter sales at French luxury groups LVMH, Gucci-owner Kering and Hermes, helping to offset the impact of disruptions in China from Covid restrictions.
Clothing business Sai Silks (Kalamandir) is preparing to file its draft documents for its initial public offering with the Securities and Exchange Board of India and plans to raise Rs 1,000 crore to Rs 1,200 crore.
LVMH chief Bernard Arnault has changed the legal structure of his family holding company Agache to a joint-stock partnership to ensure family control over LVMH in the long term, the company said on Thursday.
On Thursday, Swiss fragrances and flavourings producer Givaudan reported a net profits slump in H1, within a highly inflationary environment and despite rising sales, driven chiefly by the rebound of fine perfumery.
Inter Parfums Inc. announced the closing of its agreement with G-III Apparel Group, the parent company of the Donna Karan and DKNY brands, to become the exclusive worldwide licensee for the labels’ fragrance brands.
The revenue of Italian leather goods group Piquadro rose in all channels and regions in Q1 2022-23, reaching €32 million, equivalent to a 47.2% increase, driven chiefly by its monobrand stores and Europe.
Armani posted a 20% increase in sales at constant currencies in the first half, after swinging to an operating profit in 2021 as revenues returned above pre-pandemic levels in the second part of the year.
Fast moving consumer goods retailer BigBasket’s operator Innovative Retail Concepts reported a 17% increase in its revenue in the 2022 financial year but its losses also grew fourfold during the fiscal.