PPR missed first-quarter sales forecasts, particularly for its Gucci fashion label and Puma sports brand, hit by sluggish trading in Europe and slower growth in China.
The French group, which also owns fashion houses Yves Saint Laurent and Bottega Veneta, said on Thursday it had not noticed any improvement in China, still the luxury industry's main engine of growth despite a recent moderation in demand.
The Swiss watchmaker Corum said on Wednesday it had been acquired by China Haidian in the first purchase of a luxury Swiss watch company by a Chinese rival.
China Haidian said it had acquired 100 percent of Corum for CHF86 million (USD90.9m).
Coach reported higher-than-expected quarterly results and raised its annual dividend, sending shares of the upscale leather goods maker sharply higher.
The luxury retailer, which sells handbags for as much as USD1,200, is expanding into Asia as it shifts from a maturing US market that recorded a 2 percent decline in same-store sales during the important holiday season quarter.
International sales rose 6 percent to USD382 million in the quarter, driven by a 40 percent rise in sales in China.
Without knowledge of store traffic, advertising and promotion performance, weather and seasonality effects, and conversion of shoppers to buyers are guesswork at best. Store traffic and currently measured POS results are the essential factors in calculating conversion, the “missing metric” that unlocks adaptive strategies to build retail success.
Significantly increasing shopper conversion rates has been one of the main motivations for Singapore-based FJ Benjamin Holdings to invest in traffic intelligence.
UK luxury group Burberry calmed fears about slowing demand in China with better-than-expected fourth quarter results as it sold more of its most expensive items.
Burberry said demand from affluent Asian customers for its more expensive handbags and coats helped boost sales. It said "aspirational" shoppers were spending less, but its most affluent customers were spending more and its staff were helping to push more expensive items.
Luxury brands are in danger of neglecting prospects in Japan as they chase consumers in China, a new study from L2, the thinktank, has warned.
The report, entitled Digital IQ Index: Japan, analysed the digital performance of 100 luxury brands – 95 international and five local – during February 2013.
Luxury conglomerate LVMH on Monday posted a 6 percent revenue growth for the first quarter of 2013 to EUR6.9 billion (USD9b). Organic revenue rose 7 percent compared to the same period in 2012.
The group continued at the start of the year to perform in line with the trends of the second half of 2012 with strong growth in Asia and the US, while Europe demonstrates good resistance despite a challenging economic environment.
Luxury watch brand Tag Heuer hopes to grew faster in India this year by taking the brand to more stores and with newer models.
LVMH Watch & Jewellery India Pvt Ltd, a wholly-owned subsidiary of the Swiss watch major, will open more exclusive brand outlets and place the brand in multi-brand outlets as well.
The brand has launched its new boutique in Phoenix Market City in Chennai, which is the eighth exclusive brand outlet in the country. With this, it now has two each in Delhi, Mumbai, Bangalore and Chennai.
Mercedes-Benz bridged the gap between mass-market affluent consumers and the superrich for cars. The trick for Louis Vuitton is to do the same in handbags.
Louis Vuitton, which accounts for half of luxury-goods conglomerate LVMH Moët Hennessy Louis Vuitton SA's operating profit, generates EUR7.4 billion (USD9.69b) in annual sales, estimates Bernstein Research. That is almost as much as Prada SpA, Hermès