Luxury

Hermes reports 6.3pc rise in first-half earnings, thanks to Asia

Source: 
cpp-luxury.com

Operating profit reached EUR621 million (USD818 million) from EUR584 million (USD766.9 million), luxury giant Hermes said on Friday in a statement. Analysts predicted EUR617 million (USD810.2 million), according to the median of nine estimates compiled by Bloomberg. Earnings as a proportion of sales narrowed to 32.6 percent from 33.1 percent, weighed down by unfavorable exchange rates.

 

Luxury shoe firm Salvatore Ferragamo profit declines

Source: 
The Wall Street Journal Online

Luxury shoe company Salvatore Ferragamo said Thursday that its first-half net profit was down 6 percent compared to the previous year, but revenue rose on gains in all regions.

To view the full article (note: you must be a Wall Street Journal Online subscriber), visit The Wall Street Journal Online.

 

Tiffany profit rises on strong sales in Americas, Asia-Pacific

Source: 
CNBC

Upscale jeweller Tiffany & Co raised its full-year profit forecast for a second time following a better-than-expected rise in quarterly profit, driven by strong sales in Asia and the Americas.

Sales in the Asia-Pacific region, excluding Japan, rose 13 percent in the second quarter ended on 31 July, followed by the 10 percent increase in its biggest market – the Americas. Same-store sales increased 8 percent in the Americas and 7 percent in Asia-Pacific. Total same-store sales rose 3 percent.

Hidesign to re-enter luxury leather segment

Source: 
The Hindu Business Line

Hidesign is getting ready to compete with international leather brands by re-entering the luxury segment. In the past, it had named its bags after designer Alberto Ciaschini, but now a fresh foray into the segment with a new brand name is being considered, which will have the Hidesign tag attached to it.

“We have to strengthen the Hidesign brand in the luxury segment. The market is ready for luxury bags, but we have to get it right this time since we will be competing with international brands such as Furla and DKNY,” said Dilip Kapur, founder and owner of Hidesign.

India ranks lowest in penetration of luxury brands in Asia-Pacific

Source: 
cpp-luxury.com

High prices of luxury space rentals, lack of suitable retail real estate making it tough for luxury brands to expand business in India. Indian cities ranks among the lowest in a recent study on luxury retail penetration in top Asia-Pacific cities.

 

Max Mara sees no reason to change its business in China

Source: 
red luxury

With the opening of its biggest Asian flagship store in Beijing, as well as double-digit year-on-year growth in 2013, Max Mara's CEO sees no reason to change its expansion strategy in China.

Alibaba offers perk to some luxury brands

Source: 
The Wall Street Journal Online

Chinese e-commerce company Alibaba Group Holding Ltd. is rolling ou a powerful new incentive to attract luxury brands: removing some listings from its online shopping sites.

To view the full article (note: you must be a Wall Street Journal Online subscriber), visit The Wall Street Journal Online.

 

Gucci first half year sales drop 4.5pc

Source: 
cpp-luxury.com

Kering Group said Wednesday its first-half profit rose 7 percent on strong growth at some of its luxury brands, though a steep decline in sales at its flagship Gucci fashion house exposed how weakness in Asian markets continues to hit luxury firms.

The French group said Gucci’s revenue—which accounts for 37 percent of the group’s total—fell 4.5 percent to USD2.1 billion. Kering Chief Financial Officer Jean-Marc Duplaix said the decline didn’t come as a surprise, as the company expected to see an improvement only in the second half of the year.

Hugo Boss Asian growth slows, dampened by China market

Source: 
CNBC

German fashion house Hugo Boss on Thursday reported second-quarter sales rose 5 percent, helped by its strategy of running more of its own stores.

Net profit rose 20 percent to EUR62.5 million (USD83.7 million) while sales grew 5 percent to EUR558.9 million, compared with average analyst forecasts of EUR61.4 million and EUR568 million, respectively.

Chinese brides give diamond market sparkle

Source: 
CNBC

Chinese brides and Indian festivals will drive diamond demand into new year, the CEO of De Beers told CNBC, as the market for the precious jewel continues to rebound.

The US is by far the biggest diamond market in the industry that was worth USD72.1 billion in 2012 but China and India are the fastest-growing, seeing impressive double-digit growth between 2006 and 2012.

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