Luxury accessory label Oroton has warded off strong international competition and a sluggish retail sector to grow its full year profit by more than 10 percent.
The handbag and accessory retailer's profit jumped by 10.2 percent to AUD27.5 million (USD26.1m) for fiscal 2013, up from AUD24.9 million in the previous period.
Oroton Group chief executive Mark Newman said 2013 had been a "year of transition" for the brand, which wound up its partnership with Ralph Lauren and signed a new deal with another US label, Brooks Brothers.
The Chinese government's crackdown on luxury goods has hit the world's luxury goods industry but Burberry remains confident of the potential of emerging markets, the UK fashion label's chief executive Angela Ahrendts told CNBC at the London Fashion Week.
Burberry surprised markets last September with news that it expected 2012 sales and profits to slow and come in below expectations. The Asia-Pacific region makes up a sizeable chunk of Burberry's sales, 37 percent of the group's GBP2 billion (USD3.18b) revenues in year ended March 2013.
The Devil, it seems, wears anything but Prada in the eyes of Chinese bloggers determined to expose corrupt government officials flashing luxury labels way past their pay grades.
Prada is among a few premium brands reporting solid growth in the world's second largest luxury market even as a government campaign against conspicuous spending and gift-giving hurts firms with instantly recognizable brands like LVMH, Compagnie Financiere Richemont and Kering.
Hong Kong's Chow Tai Fook Jewellery Group Ltd on Tuesday said revenues in the first quarter of the financial year had jumped 63 percent from the same period in 2012. Sales growth in its stores for gold products soared 78 percent in the quarter ending on 30 June.
Cross-selling on non-gold jewellery and replenishment orders from franchisees were also cited by analysts as driving the sales numbers.
Alexis Babeau has run the luxury division of PPR, which has been renamed "Kering", since 2011. He believes he has the promotion of high-end goods down to a science. "It's about managing exclusivity and growth," he said.
As China's rise enters a new phase, where the middle class is expanding rapidly, Kering, whose Chinese name, "Kai Yun", means open sky, or good luck, will need more than just luck to succeed.
With flagging sales in their mainland stores and increasingly price savvy consumers, luxury companies are taking a leaf out of casinos' play books by offering junkets to wealthy Chinese clients eager to splurge in their Hong Kong stores.
Upmarket brands are increasingly holding private events in Beijing or Shanghai for an exclusive clientele - events where they pay deposits on items in the mainland and then are flown on an all-inclusive trip to Hong Kong to complete the purchase.
French luxury house Hermes post a 10.3 percent increase on sales in the first quarter of 2013. Revenues for the three months ended on 31 March rose to EUR856.8 million (USD1.11 billion), the company said on Monday.
Asia-Pacific sales jumped 9.3 percent from EUR368m to EUR402.3m. Excluding currency swings, Asia-Pacific sales advanced 14 percent. Revenue in Japan dropped 8 percent compared with the same period a year earlier – hit by currency variations. Stripping out the effect of exchange rates, sales in the country climbed 7 percent.
For decades, made-in-Asia luxury has been shorthand for "fake". Now, companies from South Korean bag maker Couronne to Malaysian dressmaker Farah Khan are making a case for homegrown chic.
High-end retail chains are increasingly looking at existing and new hotels to house their brands in India, according to experts tracking the sector. While some brands have traditionally been located in five-star hotels, retail chains were seen opting for malls in the last few years. However, absence of quality real estate is once again pushing retailers, especially the luxury and niche brands, into the cool comfort of hotels.
The Oroton Group, Australian luxury accessories retailer, has reported a net profit of AUD16.4 million (USD17m) for the six months to 26 January, a 2.1 percent rise from the previous corresponding period, as group revenue lifted by 2.4 percent.
Oroton's CEO Sally Macdonald said the firm's results were solid given the challenging retail environment, international competition and amount of discounting.