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Banks jumped 0.8%, while oil and gas stocks retreated 1%. European stocks opened mixed on Thursday as global markets react to the U.S. Federal Reserve's latest monetary policy decision and a slew of corporate earnings. Federal Reserve Chair Jerome Powell said it was unlikely that the central bank's next move will be a rate hike. Asia-Pacific markets were mostly higher overnight as traders reacted to the Fed's stance, while U.S. stock futures advanced as investors looked ahead to more corporate earnings due Thursday. Dutch bank ING was 5% higher in early deals after announcing a 2.5 billion euro ($2.7 billion) share buyback.

Persons: Banks, Jerome Powell, It's, Vestas, Hugo Boss Organizations: U.S, U.S . Federal, Dow, region's, Novo Nordisk, Shell, ING, AXA, ArcelorMittal Locations: London, U.S ., Asia, Pacific, Europe

☆ Hugo Boss plunges 18% on pessimistic sales outlook in worst day since 2016
▼ + stars: | 2024-03-07 | by ( Karen Gilchrist | ) www.cnbc.com time to read: +1 min

Façade and window displays of the Boss store by Hugo Boss, in the Salamanca district, on 25 February, 2023 in Madrid, Spain. Shares of Hugo Boss plunged 18%, before paring losses slightly Thursday, after warning that it may fail to meet its 2025 sales target amid weakening consumer demand. CEO Daniel Grieder told CNBC on Thursday that 2023 was a "record year," but signaled more modest growth of 3% to 6% in 2024. He added that the company's ambition to reach 5 billion euros in sales — originally etched for 2025 — may be "slightly delayed." However, Grieder said Hugo Boss, known for fashion apparel and fragrances, was well positioned as an "affordable luxury" brand that can offer pricing flexibility without compromising margins.

Persons: Hugo Boss, Daniel Grieder, —, Grieder Organizations: CNBC, Burberry Locations: Salamanca, Madrid, Spain

☆ CNBC Daily Open: Fed's reality check
▼ + stars: | 2024-01-17 | by ( Shreyashi Sanyal | ) www.cnbc.com time to read: +2 min

This report is from today's CNBC Daily Open, our international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. European stocks ended the session lower, with fashion brand Hugo Boss tumbling 9% after lower than expected earnings. More Big Bank earningsGoldman Sachs and Morgan Stanley reported earnings on Tuesday, wrapping up results for Wall Street's biggest six lenders. Quality stocks are defined as those that have robust earnings, low debt and a stock price that's less likely to be impacted by a broad market selloff.

Persons: Hugo Boss, Christopher Waller, Li Qiang, Li, Goldman Sachs, Morgan Stanley, Wall, Morgan Stanley's Organizations: New York Stock Exchange, CNBC, Federal Reserve, Federal, Economic, Reuters, Big Bank, Wall Street's Locations: New York City, U.S, Davos, Switzerland, Beijing, China

☆ After a tough quarter for the global luxury sector, UBS reveals the 3 stocks to buy for 2024
▼ + stars: | 2023-11-24 | by ( Ganesh Rao | ) www.cnbc.com time to read: +2 min

Investors looking ahead to 2024 should pick up shares of Hermes , Cartier owner Richemont and Hugo Boss in the luxury goods sector, according to UBS. The Swiss investment bank has a bullish call on those three stocks, though it struck a more cautious tone for the sector. RMS-FR CFR-CH,BOSS-DE YTD line UBS has a price target of 85 euros ($93) a share for Hugo Boss, which points to a 38% upside from the current share price. The Swiss bank also raised its price target for Hermes to 2,216 euros, which is 12% above its current share price. The outlook for the three stocks contrasts with UBS' view that slowing sales momentum and easing pricing power warrant caution on the luxury sector on the whole.

Persons: Cartier, Richemont, Hugo Boss, Zuzanna Pusz, Hermes Organizations: Hermes, UBS, Amundi, CFR, Burberry, EssilorLuxottica, Swatch, Tod's Locations: Swiss

[1/5] Garment workers come out of a factory during lunch hours at the Ashulia area, outskirts of Dhaka, Bangladesh, November 8, 2023. A panel of factory owners, union leaders and officials agreed to the increase unanimously, said Siddiqur Rahman, the owners' representative. "We continue to recommend that the government of Bangladesh adopt an annual minimum wage review mechanism to keep up with changing macroeconomic factors," the letter said. In addition to the wage increase, the government has said that workers would be given a 5% annual increment. Babul Akter, president of the Bangladesh Garment and Industrial Workers Federation, urged global brands to pay more, saying: "There could be some problems for the owners to cope with the increased salaries."

Persons: Mohammad Ponir Hossain, Siddiqur Rahman, Rahman, Inditex, Hugo Boss, Fazlul Hoque, Hoque, Levi Strauss, Armour, Sheikh Hasina, Akter, Abdus Salam Murshedy, Murshedy, Krishna N, Ruma Paul, Miral Organizations: REUTERS, Rights DHAKA, Reuters, Inc, Knitwear Manufacturers, Association, Labour, Abercrombie & Fitch, Adidas, Puma, Bangladesh Garment and Industrial Workers Federation, Envoy Group, Walmart, Hasina's Awami League, Das, Thomson Locations: Dhaka, Bangladesh, DELHI, China, Zara, Ukraine, New Delhi

☆ Safilo posts 20% drop in adj. core profit as Europe, North America weighs
▼ + stars: | 2023-11-03 | by ( ) www.reuters.com time to read: +1 min

Safilo logo and stock graph are seen in this illustration taken, May 1, 2022. REUTERS/Dado Ruvic/Illustration/File photo Acquire Licensing RightsNov 3 (Reuters) - Italian eyewear group Safilo (SFLG.MI) on Friday reported adjusted core profit at 18.1 million euros in the quarter, down 20% year-on-year, due to declining sales in former GrandVision chains in Europe and by weakness in the North American market. The Padua-based firm said net sales for the July to September period were 235 million euros ($252.20 million), compared to 260.4 million a year earlier. Safilo, which makes eyewear for brands such as Hugo Boss and Tommy Hilfiger, also extended Chief Executive Angelo Trocchia's mandate for additional three years. ($1 = 0.9318 euros)Reporting by Romolo Tosiani; editing by David EvansOur Standards: The Thomson Reuters Trust Principles.

Persons: Dado Ruvic, Hugo Boss, Tommy Hilfiger, Angelo Trocchia's, Romolo, David Evans Organizations: REUTERS, Thomson Locations: Europe, Padua

☆ Pamela Anderson’s makeup-free look draws praise from Jamie Lee Curtis
▼ + stars: | 2023-10-05 | by ( Lisa Respers France | ) edition.cnn.com time to read: +1 min

CNN —Pamela Anderson went without makeup for Paris Fashion Week and Jamie Lee Curtis found it beautiful. Anderson recently told Elle that back then, “I just went along with what people were telling me what to do” in terms of her look. She explained that she has chosen to wear little or no makeup since the death of her former makeup artist Alexis Vogel, who died in 2019 following a battle with breast cancer. “She was the best,” Anderson said of Vogel. And I’m kind of laughing at myself when I look at the mirror.

Persons: Pamela Anderson, Jamie Lee Curtis, Anderson, ” Curtis, “, ”, Elle, Alexis Vogel, ” Anderson, Vogel, Alexis, it’s, Hugo Boss, Tommy Hilfiger Organizations: CNN, Paris Fashion

☆ Coty prices global shares at $10.80 ahead of Paris listing
▼ + stars: | 2023-09-28 | by ( ) www.reuters.com time to read: +1 min

Covergirl makeup, owned by Coty Inc., is seen for sale in Manhattan, New York City, U.S., February 7, 2022. REUTERS/Andrew Kelly Acquire Licensing RightsSept 28 (Reuters) - Coty (COTY.N) said it would price its global offering of 33 million shares at $10.80 per share, and the stock is expected to start trading on the Paris Stock Exchange at 9.30 a.m. Eastern Time on Thursday. The CoverGirl cosmetics maker, which said in May that it would explore a dual listing in Paris, launched its global offering on Sept. 25. The company's U.S.-listed shares have fallen about 7% since the launch, but were up marginally in premarket trade on Thursday. Reporting by Juveria Tabassum; Editing by Varun H KOur Standards: The Thomson Reuters Trust Principles.

Persons: Andrew Kelly, Coty, Hugo Boss, Burberry, Juveria Tabassum, Varun Organizations: Coty Inc, REUTERS, Coty, Paris Stock Exchange, Thomson Locations: Manhattan , New York City, U.S, Paris, Europe, Middle East, Africa

☆ 'One of the cheapest stocks': Bank of America just upgraded these 3 luxury names in Europe
▼ + stars: | 2023-09-26 | by ( Ganesh Rao | ) www.cnbc.com time to read: +2 min

Bank of America upgraded three luxury stocks that are bucking the negative trends afflicting the broader sector in Europe. The investment bank expects profit margins to decline by one percentage point for the sector even as third-quarter revenue is seen growing modestly. Meanwhile, the investment bank upgraded Ermenegildo Zegna and Pandora to buy, and Hugo Boss to neutral from underperform. The investment bank believes a similar pattern will likely emerge in Europe with spending on the continent peaking early this year. Despite Pandora shares' 45% rally this year, the Bank of America analyst still considers it "one of the cheapest stocks in all of Consumer Discretionary."

Persons: Prada, Tod, Pandora, Hugo Boss, Ashley Wallace, Wallace, Pandora Wallace Organizations: of America, Bank of America, underperform, Zegna Bank of America Locations: Europe, United States, U.S, China

☆ Coty boosts core sales forecast as price hikes, strong beauty demand help
▼ + stars: | 2023-09-20 | by ( ) www.reuters.com time to read: +1 min

Covergirl makeup, owned by Coty Inc., is seen for sale in Manhattan, New York City, U.S., February 7, 2022. REUTERS/Andrew Kelly/File Photo Acquire Licensing RightsSept 20 (Reuters) - Coty (COTY.N) on Wednesday raised its annual core sales forecast on the back of higher pricing and strong demand as customers splurge on its high-end and affordable cosmetics and fragrances. The company said since it reported earnings in August it has seen a strong momentum in beauty demand, particularly in prestige fragrances - its high-end segment that houses cosmetics and fragrances from the Hugo Boss, Gucci and Burberry brands. Coty now expects fiscal 2024 core like-for-like (LFL) sales growth between 8% and 10%, up from its earlier outlook of LFL growth being at the top end of its target range of 6% to 8%. Reporting by Ananya Mariam Rajesh in Bengaluru; Editing by Shailesh KuberOur Standards: The Thomson Reuters Trust Principles.

Persons: Andrew Kelly, Hugo Boss, Gucci, Ananya Mariam Rajesh, Shailesh Organizations: Coty Inc, REUTERS, Coty, Burberry, Wall, Thomson Locations: Manhattan , New York City, U.S, Bengaluru

☆ How knockoffs took over America
▼ + stars: | 2023-09-14 | by ( Jennifer Ortakales Dawkins | ) www.businessinsider.com time to read: +10 min

But these fake products have major financial and societal impacts that can lead to lost sales, jobs, and livelihoods. US Customs and Border Protection officers inspect boxes of counterfeit products at the Los Angeles/Long Beach Seaport complex. Edward Berthelot/GettyWhy sales of counterfeit goods have soaredE-commerce has been a breeding ground for knockoffs. AdvertisementAdvertisementAccording to the US Sentencing Commission , the maximum sentence for selling counterfeit goods is 10 years in prison. In 2020, Amazon established its Counterfeit Crimes Unit, which works with brands to identify and remove counterfeit products.

Persons: Daniel Shapiro's, Hugo Boss, counterfeiters, Spencer Platt, Getty, Shapiro, Jason Armond, Gabrielle Chanel, Michael Kors, Gucci, Chanel, Zers, Edward Berthelot, Superfakes, They've, Wang Zhao, I'm, counterfeits, It's Organizations: Service, Red, Puma, Fila, eBay, US Department of Homeland Security, International Chamber of Commerce, Frontier Economics, Customs, Border Protection, Los, United States Intellectual, United Nations Office, Drugs, UN, Seaport, Economic Cooperation, Development, US Chamber of Commerce, US Customs, Protection, US, Commission, Nike, Amazon Locations: Wall, Silicon, Manhattan, Los Angeles, Long, Beijing, Europe, China

☆ 'A comeback in the making': UBS expects these under-the-radar European stocks to soar
▼ + stars: | 2023-09-08 | by ( Amala Balakrishner | ) www.cnbc.com time to read: +3 min

UBS has named a raft of European small and midcap stocks it says are staging a "comeback in the making" this year. Smaller European stocks returned 0.5% in July and August, outperforming the 1.7% contraction logged by large caps in the same period, the Swiss investment bank noted. On average, stocks on UBS' list of small and mid-cap stocks were up 6.6% year-to-date, beating the MSCI European Smallcap Index by 1.2 percentage points, according to the bank. Stock picks Italian cement and ready-mix company Buzzi is among UBS' top picks, given its year-to-date performance of 53.4%. New on the radar UBS' list has also undergone a refresh to include three new stocks: Galenica , SIG Group and Talgo.

Persons: Knorr, Hugo Boss, Galenica Organizations: UBS, Stock, Bremse, SIG Group, Swiss pharma, SIG Locations: Swiss

"Increasingly we are going to turn used clothes into raw material from Europe for fashion companies." Also in Spain, rivals including H&M, Mango and Inditex have created a non-profit association to manage clothing waste, responding to an EU law requiring member states to separate textiles from other waste from January 2025. OBSTACLESThe obstacles to significantly reducing clothing waste are formidable, despite the EU crackdown, industry sustainability commitments and initiatives like the Moda Re expansion. Adidas (ADSGn.DE), Bestseller, and H&M (HMb.ST) have invested in Finnish start-up Infinited Fiber Company, which manufactures fibre out of textile waste, cardboard and paper. As in Spain, textile waste associations would be set up in each country.

Persons: Albert Alberich, Inditex, Dijana Lind, Hugo Boss, Lind, Moda, Aissatou Boukoum, Mauro Scalia, Corina Pons, Helen Reid, Horaci Garcia, Nacho, Frank Jack Daniel Our Organizations: BARCELONA, Moda, Caritas, Union, European Commission, Union Investment, Adidas, McKinsey, Reuters, EU, ReHubs, Moda Re, United Nations, Inditex, Puma, Infinited Fiber Company, Thomson Locations: Spain, Barcelona, Spanish, Europe, Zara, Bilbao, Valencia, EU, Frankfurt, ReHubs Europe, Mali, Sant, AFRICA, Cameroon, Ghana, Senegal, Africa, Senegalese, Germany, Texaid, Switzerland, Vestisolidale, Italy, France, EURATEX, Madrid, London, Nacho Doce

☆ Canada probing Walmart, Hugo Boss over allegations of forced labor in supply chains
▼ + stars: | 2023-08-24 | by ( ) www.reuters.com time to read: +1 min

REUTERS/Mario Anzuoni//File Photo Acquire Licensing RightsOTTAWA, Aug 24 (Reuters) - Canada's corporate ethics watchdog on Thursday announced investigations into the Canadian units of Walmart (WMT.N) and Hugo Boss (BOSSn.DE) to probe allegations of Uyghur forced labor in the companies' supply chains and operations. The Canadian Ombudsperson for Responsible Enterprise (CORE) said it had published an initial assessment report after complaints filed by a coalition of 28 civil society organizations in June 2022. CORE will also investigate the Canadian unit of fashion firm Diesel, which is owned by Italy's OTB (OTB.L). In March, a U.N. committee said it was concerned about China's treatment of its Muslim minority, including the use of forced labor against Uyghurs. CORE was launched in 2019 to monitor and investigate human rights abuses, mainly by Canadian garment, mining and oil and gas companies operating abroad.

Persons: Mario Anzuoni, Hugo Boss, Italy's OTB, Ralph Lauren, RL.N, Sheri Meyerhoffer, CORE's Ombudsperson, David Ljunggren, Jonathan Oatis Organizations: Walmart, REUTERS, Rights OTTAWA, Responsible Enterprise, Diesel, Nike Canada, CORE, Thomson Locations: Rosemead , California, U.S, China

Raw material and freight costs have eased from pandemic-era highs, but a tight labor market is exacerbating the drag of persistent inflation on production costs. This overshadowed Coty's quarterly revenue beat despite customers splurging on its high-end and affordable fragrances and cosmetics, ranging from Hugo Boss to Gucci. The company reported a quarterly adjusted profit of 1 cent per share, missing estimates of 2 cents, according to Refinitiv data. Coty forecast 2024 adjusted profit between 44 cents and 47 cents per share. Rival Estee Lauder (EL.N) had also provided downbeat annual forecasts, hurt by frail recovery in travel retail and slowing U.S. demand.

Persons: Andrew Kelly, Hugo Boss, Gucci, Laurent Mercier, Mercier, Estee Lauder, Javier Gonzalez Lastra, EL.N, Juveria Tabassum, Ananya Mariam Rajesh, Pooja Desai Organizations: Coty Inc, REUTERS, Coty, Reuters, L'Oreal, Tema, Thomson Locations: Manhattan , New York City, U.S, Bengaluru

☆ China's livestreaming attracts young hopefuls as competition grows
▼ + stars: | 2023-08-15 | by ( Casey Hall | Thomson Reuters | Casey Has Reported On China'S Consumer Culture Her Base In Shanghai For More Than A Decade | ) www.reuters.com time to read: +3 min

A day in the life of a livestreaming host like Zhang can include more than six hours of talking almost non-stop to camera, time spent on hair, make-up, and on post-broadcast debriefs. I can pick up my phone and I'm livestreaming," Zhang said. The livestreaming industry employed 1.23 million hosts as of 2020, according to iResearch, and a pandemic era boom in livestream sales helped the industry to generate $480 billion in business in China last year. To facilitate an increasingly professional and competitive livestreaming landscape, agencies have sprung up to train stables of young hosts and connect suitable anchors with brands. Indeed, the way brands approach livestreaming in China has also quickly evolved.

Persons: Zhang Jinyu, Zhang, Bytedance's, Shining Li, Shi Jianing, Hugo Boss, Casey Hall, Robert Birsel Organizations: Romomo, Thomson Locations: SHANGHAI, China, Shanghai

☆ I was at Goldman Sachs when I came out as a trans woman. I wondered if my colleagues thought I was a freak the first time they saw me with makeup on.
▼ + stars: | 2023-08-13 | by ( Maeve Duvally | ) www.businessinsider.com time to read: +6 min

Maeve Duvally is a former Goldman Sachs executive who came out as transgender in 2019. For most of my career at Goldman Sachs, I commuted from Pound Ridge into the City, got off the train and jogged to work. Rushing toward the exit, I nearly bumped into a Goldman Sachs hospitality person who I didn't really recognize though I probably passed him several times a week. I crept out of the auditorium and willed myself to the last obstacle, the turnstiles, after which I was free of Goldman Sachs and worry. Maeve DuVally is a former Goldman Sachs executive and author of "Maeve Rising: Coming Out Trans in Corporate America."

Persons: Maeve Duvally, Goldman Sachs, Maeve, Hugo Boss, Clark Kent, Maeve DuVally Organizations: Goldman, Corporate, City, AA, Wonder, Bloomberg Locations: Atacama, Asia

NEW YORK/LONDON, Aug 10 (Reuters) - Lean times faced by many U.S. and European companies may last longer than expected as they try to sell off their bulging inventories in an economic climate where demand is stalling. Full-to-bursting warehouses means fewer orders for manufacturers, which translates into lower levels of business activity and, ultimately, weaker growth. Now, global demand is falling as borrowing costs have risen, so companies have started running down stocks. Maersk controls about one-sixth of global container trade, transporting goods for a host of major retailers and consumer goods companies. Refinitiv I/B/E/S data shows U.S. and European companies are expected to report their worst quarterly results in years.

Persons: Vincent Clerc, Hugo Boss, Moller, Stanley Black, Decker, destocking, Levi Strauss, Rajiv Sharma, Arun Sundaram, Guillermo Novo, Cyrus de la Rubia, Siddharth Cavale, David Gaffen, Josephine Mason, Mark John, Jonathan Cable, Helen Reid, Jane Merriman Organizations: U.S, Maersk, Heineken, 3M, . Bureau of Labor Statistics, CFRA Research, Retailers, BASF, London, Rutgers University, Hamburg Commercial Bank, doesn't, Thomson Locations: Ukraine, U.S, United States, Ashland, Hamburg, New York, London

☆ Hugo Boss stays strong in tough China, U.S. markets
▼ + stars: | 2023-08-02 | by ( ) www.reuters.com time to read: +2 min

[1/2] Hugo Boss store is seen in Polanco in Mexico City, Mexico May 20, 2017. Its business in EMEA and the Americas benefited from a pick-up in tourism, Hugo Boss said, while currency-adjusted revenue in China increased 56% from a year earlier, making the Asia-Pacific region the strongest for the company. The company expects its annual sales to grow 12% to 15% and reach 4.1 billion to 4.2 billion euros, compared with its previous forecast for about 10% growth to 4 billion euros. Hugo Boss forecasts its 2023 operating profit to grow 20% to 25% to a level of 400 million to 420 million euros, versus its prior range of 10% to 20%. Shares of Hugo Boss were seen up 0.7% in early Frankfurt trade.

Persons: Hugo Boss, Henry Romero, Hugo, JP Morgan, Linda Pasquini, Milla Nissi, Christopher Cushing Organizations: REUTERS, U.S, Group, Thomson Locations: Polanco, Mexico City, Mexico, China, Asia, EMEA, Americas, Pacific, Frankfurt, Gdansk

☆ Harvard professor Francesca Gino was accused of faking data. Now her million-dollar empire is crumbling — and scholars are eyeing who's next.
▼ + stars: | 2023-08-01 | by ( Kate Taylor | ) www.businessinsider.com time to read: +22 min

"We believe that many more Gino-authored papers contain fake data," the Data Colada professors wrote. Data Colada found that the raw data showed clear anomalies, such as a distribution infinitely more likely to be produced by a random-number generator than actual people. Soon after, Data Colada ran an article alleging that Gino tampered with data in at least one of her honesty-pledge experiments. A post on Data Colada or a tweet from Brown is like a bomb going off in the behavioral-science world. Others who attempted to build on Gino's studies are grappling with having wasted time, money, and energy.

Persons: It's, Francesca Gino, Gino, Michael Sanders, Greg Burd, —, Hugo Boss, Gino coauthoring, Swarthmore College's Bhanot, Maurice Schweitzer, Simine Vazire, Sanders, Goldman Sachs, Schweitzer, they'd, Uri Simonsohn, Joe Simmons, Leif Nelson —, Data Colada, Dan Ariely, Ariely, Chris Goodney, Harvard, Colada, Nick Brown, Brown, Jeff Lees, Lees, There's Ariely, Brian Wansink's, HBS's Amy Cuddy's, Cuddy, Amy Cuddy's, Marie Claire's, Allison Williams, Astrid Stawiarz, Marie Claire Simonsohn, Simmons, Nelson, they're, Gordon Pennycook, Pennycook, it's, Bhanot Organizations: TED, Twitter, LinkedIn, Harvard, Wharton, Swarthmore College, Harvard Business School, Alaska Airlines, King's College London, Tione, University of Trento, Sant'anna, Studies, Carnegie Mellon University, University of North, Wired, Forbes, Google, Swarthmore, University of Melbourne, Disney, Lavin Agency, Data, Duke University, who's, NBC, BuzzFeed News, Bloomberg, Getty, Privately, Higher Education, Hill, Duke, US Department of, Cornell University, New York Times Locations: Trento, Pisa, University of North Carolina, HBS, Guatemala, Boston, New York, British, Guatemalan

Kering, the French luxury goods company that owns brands like Balenciaga, Alexander McQueen and Yves Saint Laurent, surprised the fashion industry this week when it announced a sweeping reorganization of its top ranks, including the departure of Marco Bizzarri, the longtime chief executive of Gucci, Kering’s premier brand. Activists have turned on the luxury industry in recent years. Dan Loeb’s Third Point as well as Artisan Partners called for change at Richemont, the owner of jewelry brands like Cartier and Van Cleef & Arpels. But the most active recently is Bluebell, a four-year-old, $250 million firm that has also taken aim at Richemont, and the fashion brand Hugo Boss. Bluebell failed to persuade fellow Richemont shareholders to add Francesco Trapani, the former chief executive of Bulgari, as a director, but the conglomerate agreed to give public investors more influence.

Persons: Alexander McQueen, Yves Saint Laurent, Marco Bizzarri, Gucci, François, Henri Pinault, Kering, Dan Loeb’s, Van Cleef, Hugo Boss, Bluebell, Francesco Trapani Organizations: Kering’s, Bluebell Capital Partners, Partners, Cartier, BlackRock, GlaxoSmithKline Locations: London

☆ Africa Style: With Freedom Came Fashion Flair
▼ + stars: | 2023-06-29 | by ( Seph Rodney | ) www.nytimes.com time to read: +2 min

Many years ago, I worked as a salesperson at Hugo Boss in the Beverly Center in Los Angeles. But what I most relished selling was men’s suits, because a good suit is often transformative. Walking into the new “Africa Fashion” exhibition at the Brooklyn Museum, I felt that I was witnessing something wondrous, something more surprising than just an individual’s restyling. On an adjacent wall are the flags of all 54 countries in Africa, their insignia and heraldry explained. “Fashion, music and the visual arts drew on formerly marginalized traditions, creating innovative forms that looked toward future self-rule.”

Persons: Hugo Boss, Christine Checinska, ”, ” Checinska Organizations: Beverly Center, Brooklyn Museum, Victoria, Albert Museum Locations: Los Angeles, Republic of Ghana, Africa, London, Tunisia, Morocco, France, Ghana, Britain

☆ Brands focus on stories in refining China livestreaming to boost profits
▼ + stars: | 2023-06-28 | by ( Casey Hall | Thomson Reuters | Casey Has Reported On China'S Consumer Culture Her Base In Shanghai For More Than A Decade | ) www.reuters.com time to read: +6 min

[1/5] Livestreaming sessions by Chinese livestreamers Li Jiaqi and Viya, whose real name is Huang Wei, (L) are seen on Alibaba's e-commerce app Taobao displayed on mobile phones in this illustration picture taken December 14, 2021. Stellar growth boosted by the COVID-19 pandemic saw the industry employ more than 1.23 million livestream hosts by 2020, says researcher iResearch, along with numerous accompanying livestream-related training academies and agencies. While Tmall and Li Jiaqi remain powerful, brands moving away from that strategy are cutting reliance on massive discounts and even his famous exhortation, "Oh my god! Liu once thought her brand's price point of about 2,000 yuan ($277) for its dresses made it incompatible with bargain-heavy livestreaming. The dominance of pureplay sales platforms such as Alibaba's Tmall and Taobao, along with JD.com (9618.HK), is increasingly challenged by entertainment and information-led platforms such as Douyin and Xiaohongshu.

Persons: Li Jiaqi, Huang Wei, Florence Lo, Apple's, William Lau, Clyde, iResearch, Jacob Cooke, Li, Liu, Hugo Boss, superhost Viya, Lexie Moris, Betty, Casey Hall, Miyoung Kim, Clarence Fernandez Organizations: REUTERS, Apple Watch, HK, Tmall, Thomson Locations: SHANGHAI, China, Beijing, Asia, Pacific, Douyin

☆ U.S. luxury sales increasingly coming from high-end shoppers, Bain & Co says
▼ + stars: | 2023-06-23 | by ( ) www.reuters.com time to read: +2 min

PARIS, June 23 (Reuters) - Luxury brands focused on wealthier consumers in the United States are performing better than those who appeal to aspirational shoppers on lower incomes who are deterred by the economic uncertainty, consultancy Bain & company said. For example, premium fashion retailer Hugo Boss last week raised its sales and profit targets for 2025 and said it continued to see strong growth in the U.S. and was expecting revenue to grow in the Asia-Pacific region. Lovato said that while there were "some questions marks" about China, and possibly a slowing of sales growth with the middle class, there was still appetite there. Luxury sales stood at 345 billion euros last year, according to Bain. Reporting by Mimosa Spencer and Elisa Anzolin; Editing by Alison WilliamsOur Standards: The Thomson Reuters Trust Principles.

Persons: Bain, Federica Levato, Hugo Boss, Lovato, Mimosa Spencer, Elisa Anzolin, Alison Williams Organizations: Bain, Reuters, People, Saks Fifth, REUTERS, Thomson Locations: United States, China, New York City, U.S, Asia, Pacific

☆ U.S. luxury sales increasingly coming from high-end shoppers - Bain
▼ + stars: | 2023-06-23 | by ( ) www.reuters.com time to read: +2 min

Persons: Bain, Federica Levato, Hugo Boss, Lovato, Mimosa Spencer, Elisa Anzolin, Alison Williams Organizations: Bain, Reuters, Thomson Locations: United States, China, U.S, Asia, Pacific

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