French luxury goods group LVMH reported a 3% drop in comparable sales for the fourth quarter, as a boom in revenues at its big fashion brands like Louis Vuitton offset a weak performance at its duty free shops.
French luxury goods group LVMH on Thursday named two top Louis Vuitton executives as new managers of Tiffany and overhauled the design team in its first shake-up of the US jeweller following a $15.8 billion acquisition.
US jeweler Tiffany & Co’s shareholders on Wednesday approved a $15.8 billion deal with France’s LVMH, ending an acrimonious dispute between the two luxury retailers that had stretched for more than a year.
American-born executive Ian Rogers is to exit 24S, the fledgling e-commerce wing of LVMH, the world’s largest luxury conglomerate, as part of a major shakeup in digital and information technology within the group.
An in-depth look at how Covid-19 has amplified the importance of financial resources for the fashion and luxury sector, amidst share buybacks, green bonds, state funding, recapitalisations and calls to investors.