DIRS.INFO The most relevant business & tech news

☆ How 'quiet luxury' is subtly taking over investor portfolios
▼ + stars: | 2024-01-30 | by ( Shreyashi Sanyal | ) www.cnbc.com time to read: +4 min

So what is "quiet luxury"? Quiet Luxury's outperformance over Loud Luxury in 2023. "Hence, in 2023, quiet luxury companies notably outperformed their loud peers by 23% points. According to DBS, a company fall under its categorization of "quiet luxury" if it's understated and focused on high quality, while maintaining exclusivity and scarcity. Loud luxury not in vogue

Persons: Karin Teigl, Kelly, Baum, Jeremy Moeller, Miu Miu, Brunello, Hou Wey Fook, Hermes, LVMH Moët Hennessy Louis Vuitton, Markus Hansen, Hansen, Goldman Sachs, — Organizations: Getty, DBS Bank, Financière Richemont, Swatch Group, DBS, Richemont, Swatch, CNBC, U.S Locations: VIENNA, AUSTRIA, Asia, South Korea, Japan, India

☆ Richemont digital strategy goes back to square one
▼ + stars: | 2023-11-29 | by ( Lisa Jucca | ) www.reuters.com time to read: +3 min

The logo of the luxury goods company Richemont is pictured at its headquarters in Bellevue near Geneva, Switzerland, June 2, 2022. REUTERS/Denis Balibouse Acquire Licensing RightsMILAN, Nov 29 (Reuters Breakingviews) - Johann Rupert’s digital strategy may be heading back to the drawing board. But even if Rupert can extricate himself from the Farfetch situation, Richemont’s digital plans will still be unclear. In August 2022 Richemont agreed to sell a 47.5% stake in its digital platform, Yoox Net-A-Porter, to Farfetch. Shares in Richemont were up 1.5% by 1100 GMT on Nov. 29.

Persons: Denis Balibouse, Johann Rupert’s, Porter, Cartier, Rupert, Farfetch, José Neves, Richemont, Financiere Richemont, Peter Thal Larsen, Oliver Taslic Organizations: REUTERS, Reuters, The Telegraph, Financiere, Telegraph, Thomson Locations: Bellevue, Geneva, Switzerland, Swiss, U.S, YNAP, New York, Richemont

☆ Birkenstock IPO gets predictable shoeing
▼ + stars: | 2023-10-11 | by ( ) www.reuters.com time to read: +2 min

A sign is illuminated at the entrance to a Birkenstock shoe store in London, Britain, October 11, 2023. REUTERS/Toby Melville Acquire Licensing RightsNEW YORK, Oct 11 (Reuters Breakingviews) - Birkenstock’s (BIRK.N) IPO is a flop. The Birkenstock enterprise was gunning for a multiple of 19 times EBITDA, well above that of Europe's luxury conglomerates. And if the first-day stock woes stick, a suitor might soon walk all over Birkenstock. They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias.

Persons: Toby Melville, L, gunning, Oliver Reichert don’t, Bernard Arnault, Pamela Barbaglia, Jeffrey Goldfarb, Sharon Lam Organizations: REUTERS, Reuters, Tech, Compagnie Financiere, X, Qantas, Thomson Locations: London, Britain, United States, Europe, New York, Brussels

Birkenstock would end up raising $1.58 billion at the top of the range. While shares of Arm and Klaviyo still trade above their IPO price, Instacart's stock is now worth less than its IPO value. This helps explain why Birkenstock is not inclined to raise its IPO price range despite the strong initial investor demand. To leave less to chance, Birkenstock launched the roadshow for its IPO last week with some investors lined up. Birkenstock was founded in 1774 in the German village of Langen-Bergheim by Johannes Birkenstock and his younger brother Johann Adam Birkenstock, who were both shoemakers.

Persons: Birkenstock, Financière Agache, Johannes Birkenstock, Johann Adam Birkenstock, Barbie, Margot Robbie, Bernard Arnault, Louis Vuitton Moet Hennessy, Anirban Sen, Chris Reese Organizations: Birkenstock Holding, U.S, Arm Holdings, Nike Inc, Partners, Norges Bank Investment Management, Thomson Locations: New York, Langen, French, Birkenstock

☆ Birkenstock walks tightrope with $11 bln price tag
▼ + stars: | 2023-10-02 | by ( ) www.reuters.com time to read: +2 min

A pair of shoes is pictured in a window of a Birkenstock footwear store in Berlin, Germany, January 21, 2021. REUTERS/Fabrizio Bensch Acquire Licensing RightsLONDON, Oct 2 (Reuters Breakingviews) - Birkenstock is taking a bold step forward. Fresh from publicity from the Barbie movie, the German sandals maker is targeting a valuation of up to $11 billion, including debt, in its New York stock listing next week. Hoping to build confidence among investors, owner L Catterton has secured the backing of anchor investors including Bernard Arnault’s investing vehicle Financière Agache and Norway’s wealth fund. At $44 to $49 per stock, the offer values the group’s equity between $8.3 billion and $9.2 billion.

Persons: Fabrizio Bensch, L Catterton, Bernard Arnault’s, Martens, Pamela Barbaglia, Lisa Jucca, Oliver Taslic 私, 「 Organizations: REUTERS, Reuters, Nike, 「 Reuters Locations: Berlin, Germany, New York

A coffee machine featuring Novo Nordisk logo is seen at the company headquarters in Copenhagen, Denmark, February 5, 2020. REUTERS/Jacob Gronholt-Pedersen/File Photo Acquire Licensing RightsLONDON, Sept 1 (Reuters) - Danish drugmaker Novo Nordisk briefly unseated LVMH (LVMH.PA) as Europe's most valuable listed company in intraday trading on Friday, ending the French luxury group's 2-1/2 year-long reign at the top. At 0843 GMT, Novo Nordisk (NOVOb.CO) had a market capitalisation of $421 billion including unlisted stock, according to Refinitiv data and company disclosures of its share count. By 1031 GMT, Novo Nordisk shares were up 1% while LVMH shares were down 0.4%. LVMH shares have fallen 13.8% from an all-time high hit in April, underperforming Europe's broader STOXX 600 which is down around 1.9% in the same time frame.

Persons: Jacob Gronholt, Pedersen, LVMH, Ozempic, Wegovy, Novo's, Louis Vuitton, Marcel Stotzel, Stotzel, Eli Lilly, Axelle Pinon, Mounjaro, Novo, Carmignac's Pinon, Hennessy, Tiffany, Fiona Cincotta, Hermes, Samuel Indyk, Amanda Cooper, Catherine Evans Organizations: Novo Nordisk, REUTERS, Nestle, Dior, Fidelity European Fund, Fidelity European Trust, Barclays, Index, Financiere, Thomson Locations: Copenhagen, Denmark, Danish, LVMH, United States, China, Covid

☆ China publishes rules to boost data security in money brokering
▼ + stars: | 2023-08-30 | by ( ) www.reuters.com time to read: +2 min

SHANGHAI, Aug 30 (Reuters) - China published rules on Wednesday aimed at boosting data security in the money brokering industry, five months after a disruption in data services caused two days of chaos in the country's $21 trillion bond market. Five financial watchdogs, including the central bank as well as forex and securities regulators, urged interdealer brokers to improve data and risk management, and safeguard data security. Interdealer brokers, when offering data services, "must not endanger national security, financial safety and public interest," the regulators said in a joint statement. Chinese regulators in March suspended the data feed business of money brokers, citing data security concerns, triggering a slump in bond trading turnover as many traders lost immediate access to real-time data. China has in recent years grown more concerned over data security and rolled out new laws and compliance requirements for companies.

Persons: LSEG, Tullett, Jacqueline Wong, Muralikumar Anantharaman, Mark Potter Organizations: China Foreign Exchange Trade System, Shanghai Stock Exchange, Information Co, Refinitiv Information Services, Co, Bloomberg L.P, Thomson Reuters, London Stock Exchange, Reuters, NEX International, Partners, Central, Financiere, National Administration of Financial, Cyberspace Administration, Shanghai, Thomson Locations: SHANGHAI, China, LSEG ., Central Tanshi

☆ Luxury tests limits of its immunity to downturns
▼ + stars: | 2023-07-17 | by ( ) www.reuters.com time to read: +2 min

LONDON, July 17 (Reuters Breakingviews) - Compagnie Financiere Richemont (CFR.S) is testing the limits of luxury’s immunity to downturns. Shares of other big luxury players, including $236 billion Hermes International (HRMS.PA) and $502 billion LVMH (LVMH.PA), also fell 4.2% and 3.7% respectively. The top 5% of wealthiest shoppers who are probably less sensitive to inflation drove around 40% of global luxury sales last year, according to Boston Consulting Group. Shares in the European luxury sector are on average up 69% since the start of the pandemic in 2020. Meanwhile, revenue in Asia, which makes up 40% of Richemont's revenue, grew 40% year-on-year in the last quarter.

Persons: Cartier, U.S . downer, Karen Kwok, George Hay, Sharon Lam Organizations: Reuters, Financiere, Hermes, Boston Consulting, Citi, U.S ., Twitter, Cathay, Thomson Locations: Asia

☆ Luxury Brands See Early Signs of Recovery in China
▼ + stars: | 2023-01-18 | by ( Nick Kostov | ) www.wsj.com time to read: 1 min

British fashion house Burberry Group PLC and Cartier-owner Cie. Financière Richemont SA said sales to Chinese shoppers were starting to pick up, an early sign of recovery in what was the luxury industry’s biggest market before the pandemic. Persistent Covid-19-related disruption in China has been a major headache for makers of high-end clothing, handbags and jewelry, which had come to rely on spending by Chinese shoppers at home and abroad over the past two decades. Now, as Beijing lifts restrictions, the question is when and how strongly Chinese spending will bounce back.

☆ This startup enables companies to host video content on their own platforms. Check out the 15-slide pitch deck api.video used to raise $12 million.
▼ + stars: | 2022-12-13 | by ( Riddhi Kanetkar | ) www.businessinsider.com time to read: +3 min

Bordeaux-based api.video enables developers to incorporate videos on companies' own platforms. A French startup that provides developers with the tools to embed video content on companies' native apps and websites has raised $12 million. Api.video has created a cloud-based platform that allows developers to integrate video content on companies' platforms. The startup makes its money "based on customers' usage of the platform," Montet told Insider. Tony Nysten, principal at OpenOcean, said that the rise of video as a preferred method for consumers to gain information has meant that "video infrastructure has become a critical part of modern data infrastructure."

☆ As Watch Sales Boom, Watch Flippers Face a Bust
▼ + stars: | 2022-11-11 | by ( Carol Ryan | ) www.wsj.com time to read: 1 min

The luxury watch market is still ticking along nicely for brand-new products. For secondhand ones, not so much. On Friday, shares in Compagnie Financière Richemont , which owns numerous Swiss watchmakers as well as jewelry brands like Cartier, jumped about 10% after it reported strong results for the six months through September. Its watch sales were up 15% compared with the same period last year.

Search resuls for: "Financiere"

11 mentions found