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☆ Birkenstock gets Wall Street's top rating on capacity boost, expansion
▼ + stars: | 2023-11-06 | by ( ) www.reuters.com time to read: +2 min

Nov 6 (Reuters) - Wall Street brokerages largely initiated Birkenstock (BIRK.N) with their top ratings, pointing to a likely boost from the German luxury sandal maker's recent investments to increase capacity, expansion into newer styles and brand loyalty. Birkenstock's shares dropped to as low as $35.83 in the days after listing on Oct. 11 and has traded below the IPO price of $46 apiece. Citigroup was among the most bullish, with a price target of $52, a more than 26% jump from the last close. Telsey Advisory Group analysts said Birkenstock has further avenue to expand into footwear categories such as orthopedics and professional, outdoor and active, kids, home, and sneakers. Morgan Stanley assigned a price target of $41 and an "equal-weight" rating, saying most catalysts were already priced in.

Persons: Birkenstock's, Morgan, Goldman Sachs, Jefferies, Birkenstock, Bernard Arnault, Lorraine Hutchinson, Morgan Stanley, Hogan, Riley, Reshma Rockie George, Susan Mathew, Savyata Mishra, Amruta Khandekar, Maju Samuel, Sriraj Organizations: Arm Holdings, Citigroup, Telsey Advisory, U.S ., Global, Thomson Locations: U.S, French, Bengaluru

☆ LVMH buys eyewear brand Barton Perreira as it looks to rebound from luxury slowdown
▼ + stars: | 2023-11-06 | by ( Robert Frank | ) www.cnbc.com time to read: +4 min

Barton Perreira sunglasses are displayed during 'A Good Time At Goodman's' held at Goodman's Men's Store in New York City. LVMH is buying luxury eyewear brand Barton Perreira, famed for making James Bond's shades, as it taps into the fast-growing designer sunglass market. LVMH's Thelios eyewear division agreed to acquire the Irvine, Calif.-based Barton Perreira for an undisclosed sum. Barton Perreira was founded in 2007 by Bill Barton and Patty Perreira, after they left Oliver Peoples when it was acquired by Oakley. LVMH is buying luxury eyewear brand Barton Perreira, famed for making James Bond's shades, as it taps into the fast-growing designer sunglass market.

Persons: Barton, James, Barton Perreira, Alessandro Zanardo, LVMH, Louis Vuitton, Celine, Loewe, Berluti, Zanardo, Thelios, Daniel Craig, Joe, Demi Lovato, Sandra Bullock, Ryan Gosling, Barton Perriera, Bill Barton, Patty Perreira, Oliver Peoples Organizations: Irvine, French, maisons, Hollywood, Oakley Locations: New York City, Calif, Asia, maisons, U.S, Europe, Italy

☆ LVMH to Buy Eyewear Brand Favored by the Stars
▼ + stars: | 2023-11-05 | by ( Nick Kostov | ) www.wsj.com time to read: 1 min

Bernard Arnault, head of LVMH, has a net worth larger than those of Elon Musk and Jeff Bezos. WSJ’s Nick Kostov explains how the French business magnate amassed his fortune and how he plans to keep that wealth under family control. Photo: Nicholas Kamm/Agence France-Presse/Getty ImagesPARIS— LVMH Moët Hennessy Louis Vuitton has agreed to buy Los Angeles-based eyewear maker Barton Perreira , part of the luxury conglomerate’s push to extend its reach to goods with mass-market appeal. Eyewear has emerged in recent years as one of the first purchases that aspiring luxury consumers make before moving on to more expensive items such as handbags. That is prompting LVMH and other luxury-goods companies to wean themselves off licensing agreements with third-party manufacturers and develop in-house eyewear operations.

Persons: Bernard Arnault, Elon Musk, Jeff Bezos, Nick Kostov, Nicholas Kamm, LVMH Moët Hennessy Louis Vuitton, Barton Perreira, LVMH Organizations: Agence France, PARIS Locations: Los Angeles

☆ I shopped Sephora and Ulta to compare selection and experience. There was a clear winner in each category.
▼ + stars: | 2023-11-03 | by ( Jennifer Ortakales Dawkins | ) www.businessinsider.com time to read: +2 min

AdvertisementAdvertisementAmong the stores Gen Z shops the most, Sephora and Ulta are neck-and-neck for the top beauty stores. But in the most recent survey, Sephora moved to the number one slot. AdvertisementAdvertisementThe Piper Sandler survey also found that both brands have some of the most successful loyalty programs among Gen Z. Of the female teens surveyed with membership accounts, 67% are Sephora Beauty Insiders, and 60% are ULTAmate rewards members. I visited Sephora and Ulta to see how they compare and what draws Gen Z to both brands.

Persons: Sephora, Ulta, —, Piper Sandler's, Gen Z, Louis Vuitton, Jean, Jacques Guiony, Piper Sandler, Gen, Z Organizations: Service, Gen, LVMH, Dior

☆ Why Jimmy Choo, Michael Kors, Versace, Kate Spade are suddenly one company
▼ + stars: | 2023-11-02 | by ( Kate Sammer | ) www.cnbc.com time to read: +1 min

These distinct designer brands all have something in common: a single parent company named Tapestry, Inc. That parent company has been getting bigger and bigger throughout 2023. "Growth-oriented acquisitions really help to drive the business further, " said Dana Telsey, CEO of Telsey Advisory Group. "New designers can create interest because you can extend your customer base, whether it's extending your customer base older or younger, or extend your customer base globally." The popularity of online shopping has also provoked retailers to pursue mergers that promote expansion online and in stores. As social media creates new avenues for promotion, brands grappling with the high cost of celebrity endorsements are looking to expand their resources through mergers and acquisitions.

Persons: Jimmy Choo, Versace, Michael Kors, Kate Spade, Dana Telsey Organizations: Telsey Advisory Locations: Europe

☆ Estee Lauder, Canada Goose slash annual targets as China recovery falters
▼ + stars: | 2023-11-01 | by ( ) www.reuters.com time to read: +2 min

An Estee Lauder cosmetics counter is seen in Los Angeles, California, U.S., August 19, 2019. The company also estimated annual sales to decrease 2% to an increase of 1%, compared with the previous forecast of an increase between 5% and 7%. Canada Goose expects full-year revenue to be between C$1.20 billion ($864.49 million) and C$1.40 billion, compared with its previous forecast of C$1.40 billion to C$1.50 billion. Canada Goose also saw revenues in the United States region decline nearly 11% as demand for high-end goods by affluent shoppers sag. Shares of Estee fell about 13% in premarket trading while U.S.-listed shares of Canada Goose were down 11%.

Persons: Lauder, Lucy Nicholson, Estee Lauder, Estee, Goose, Tom Ford's, Ananya Mariam Rajesh, Aatrayee Chatterjee, Shounak Dasgupta, Maju Samuel, Sriraj Organizations: REUTERS, Canada Goose Holdings, L'Oreal, Canada, U.S, Thomson Locations: Los Angeles , California, U.S, China, Canada, Asia, Korea, Hainan, Estee, United States, Bengaluru

☆ Charlie Munger says he dislikes fashion stocks like Nike - but he'd buy Hermès stock if it was cheap enough
▼ + stars: | 2023-11-01 | by ( Theron Mohamed | ) www.businessinsider.com time to read: +3 min

Charlie Munger avoids fashion stocks like Nike, but he'd invest in Hermès at a compelling price. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementAdvertisementCharlie Munger isn't a fan of fashion retail, but there's one luxury stock he'd own at the right price. Buffett's business partner also touched on Kraft Heinz, which counts Berkshire as its biggest shareholder with a nearly 27% stake. AdvertisementAdvertisement"Kirkland is a brand the way Tide is a brand, and Hermès is a different kind of a brand," Munger said.

Persons: Charlie Munger, Warren Buffett's, Munger, —, Charlie Munger isn't, I'm, Birkin, Hermès, Kraft Heinz, Heinz, Kirkland Organizations: Nike, Service, Berkshire Hathaway's, Berkshire, Kraft Locations: Hermès, Berkshire

A 0.25 mg injection pen of Novo Nordisk's weight-loss drug Wegovy is shown in this photo illustration in Oslo, Norway, September 1, 2023. "Supply of Wegovy is the most important thing for specialist healthcare investors covering Novo right now," said Barclays analyst Emily Field. Some analysts said a firm date would ease concerns that Novo's supply constraints could allow rival Eli Lilly (LLY.N) to get ahead, when it launches its Mounjaro weight-loss drug. Eli Lilly, the world's most valuable drug company ahead of Novo, has said it expects U.S. approval for the drug, currently licensed for diabetes, to be used for weight loss by the end of the year. Novo is spending billions to increase Wegovy output and hiring more contract manufacturers to fill the pens.

Persons: Victoria Klesty, Wegovy, Novo, Emily Field, Eli Lilly, Markus Manns, Manns, Catalent, Jefferies, Jacob Gronholt, Pedersen, Maggie Fick, Josephine Mason, Jane Merriman Organizations: REUTERS, Novo Nordisk, Wegovy, Barclays, U.S . Food, Drug Administration, Union Investment, Thomson Locations: Oslo, Norway, Victoria, COPENHAGEN, United States, Danish, Germany, Novo, U.S, Brussels, London

☆ How 2023 became the year of the lab-grown diamond
▼ + stars: | 2023-10-26 | by ( Diana Pearl | ) edition.cnn.com time to read: +9 min

The company isn’t the only one seeing big sales from this category: Lab-grown diamond brand Brilliant Earth saw a 15.7 percent net sales increase in 2022, to $440 million. Dorsey, another exclusively lab-grown jewelry brand, sold over a million stones last year. Broadening the marketMany consumers plough the savings from buying a lab-grown diamond into more jewelry — a bigger engagement ring, for instance. Valeria Mongelli/Bloomberg/Getty Images/File“The lab-grown diamond is not in competition with mined diamonds, it’s a complement to mined diamonds,” said Sayed Haider, COO, merchandising and operations at Diamond Nexus, which added a line of lab-grown diamonds to its offering earlier this year. Lab-grown diamond brand Dorsey sold over a million stones last year.

Persons: CNN CNN —, Pandora, ”, Pamela Anderson, Dorsey, Tiffany, Lionel Bonaventure, haven’t, Paul Zimnisky, Golan, De, Mary Carmen Gasco, Megan Strachan, Valeria Mongelli, Sayed Haider, “, Strachan, Grace Coddington, Pandora Dorsey, influencers, Bella Hadid, Justin, Hailey Bieber, that’s, Zuo Dongchen, Anderson, Precious Lee, De Beers, Bruce Cleaver, Fred, Ashley Barrett It’s, Shah Organizations: The, Fashion, CNN CNN, Diamond District, New, Brands, Cartier, Getty, De Beers, Pandora, Business, Bloomberg, Diamond Nexus, ”, Vogue, Marketing, Publishing, British Fashion Council, Business of Fashion, CNN Locations: New York, Astor, Paris, AFP, Zhengzhou, China

☆ Morning Bid: China spends, eyes on whether Europe lends
▼ + stars: | 2023-10-25 | by ( ) www.reuters.com time to read: +2 min

[1/2] A China yuan note is seen in this illustration photo May 31, 2017. Microsoft (MSFT.O) and Google parent Alphabet (GOOGL.O) each beat forecasts, but their share prices went in opposite directions as investors zeroed in on cloud computing. On the luxury front Kering (PRTP.PA), owner of Gucci and Balenciaga, reported a bigger-than-expected drop in third-quarter sales. Gucci's revamped look, unveiled last month in Milan by designer Sabato De Sarno, is yet to hit stores. European loans data and a survey of German business conditions will be closely watched later on Wednesday.

Persons: Thomas White, Tom Westbrook, Gucci, Balenciaga, LVMH, Birkin, Gucci's, Sabato De Sarno, Michele Bullock, Sam Holmes Organizations: REUTERS, Giants, Microsoft, Google, Nasdaq, Facebook, . Santander, Deutsche Bank, Dassault, Dassault Systemes, CME Group, Hilton, Boeing, IBM, Meta, Thomson Locations: China, Asia, Milan, Japan

☆ Insiders question WPP CEO Mark Read's bounceback plan after chaotic period of mergers, account losses, and a stock market slump
▼ + stars: | 2023-10-25 | by ( Lara O'Reilly | ) www.businessinsider.com time to read: +11 min

"OMD and Publicis are winning all the meaningful pitches," said a former WPP agency executive, referring to competitors Omnicom and Publicis Groupe. Further, GroupM is just one of the many parts of WPP's business that Read needs to fix. Insiders describe a whirlwind of change but confusion about the bigger visionA current WPP agency executive said they were frustrated by what they described as a vacuum of information about the bigger strategy for WPP. Getty Images"It feels like something bigger has to happen now," said a current WPP agency executive. The ongoing pitch for Volkswagen's $4 billion global media business underscores the tremendous amount of resources needed to win the proposal, and the huge prize at stake.

Persons: Christian Juhl, San, GroupM, Publicis, Kirk McDonald, McDonald didn't, Ogilvy, it's, Thomas Singlehurst, Juhl, Mark Read's, It's, Read, Martin Sorrell, AKQA, Sard, Wunderman Thompson, J.Walter Thompson, Joanne Wilson, Andrew Scott, Roberto Quarta, Angela Ahrendts, Craig Barritt, —, haven't, Clark, Arthur Sadoun, WPP's Read, Michael Farmer Organizations: WPP, Publicis, L'Oreal, Omnicom Media Group, Pfizer, North, GroupM, Verizon, Discovery, Adobe, Citigroup, Shanghai, reined, AKQA Group, Finsbury Glover, Partners, Young, Rubicam, London Stock Exchange, Brexit, Getty, Burberry, Apple, The New School Industry, VW, Groupe, Epsilon Locations: San Francisco, China, EssenceMediaCom, Kansas, Kansas City, New York, Mayfair , London, New York City

☆ Hermes sales beat expectations, defying luxury sector gloom
▼ + stars: | 2023-10-24 | by ( Mimosa Spencer | ) www.reuters.com time to read: +2 min

[1/2] A Hermes store sign is seen at a shopping mall in San Diego, California, U.S., November 23, 2022. "Despite an uncertain context, our outlook remains unchanged," Eric du Halgouet, Hermes executive vice president finance, told journalists, noting strong growth in the U.S. and Asia, including China. Sales in the Americas rose 20%, despite smaller price hikes than in other parts of the world, with even growth rates on both U.S. coasts, Hermes said. In Europe, sales grew 18.1%, with Du Halgouet noting no sign of a slowdown in tourist traffic in the region, and no slowdown in France, including in the first weeks of October. "We are attentive," said Du Halgouet, noting an uncertain geopolitical context could affect tourism.

Persons: Mike Blake, Birkin, bellwether, Hermes, Eric du Halgouet, Du Halgouet, Bernstein, Luca Solca, Mimosa Spencer, Ingrid Melander, Jan Harvey Organizations: REUTERS, Rights, U.S, Analysts, Thomson Locations: San Diego , California, U.S, Asia, China, Americas, Madison, New York, Europe, France, Japan

☆ Morning Bid: Bitcoin is back, stocks wobble
▼ + stars: | 2023-10-24 | by ( ) www.reuters.com time to read: +2 min

A bitcoin is seen in an illustration picture taken at La Maison du Bitcoin in Paris, France, June 23, 2017. Treasuries remain in the headlines with yields on 10-year notes briefly hitting 5% on Monday before quickly declining. The Japanese currency was at 149.57 per dollar having touched the symbolic 150 level on Friday and on Monday. Meanwhile, bitcoin prices soared on the back of rising speculation about the possibility of a bitcoin exchange-traded fund. Reuters GraphicsReuters GraphicsKey developments that could influence markets on Tuesday:Economic events: Oct flash PMI for Germany, France, UK and Euro zone; UK August ILO unemployment rateEarnings: Barclays, Puma, Microsoft and Google-parent Alphabet.

Persons: Benoit Tessier, Ankur Banerjee, Treasuries, Sam Holmes Organizations: La Maison du, REUTERS, Ankur, Microsoft, Google, Barclays, ICE, Reuters Graphics Reuters, Puma, Thomson Locations: La, Paris, France, Israel, Europe, Asia, Pacific, Japan, Britain, United States, Germany

☆ Kering sales down 9% as luxury slowdown stalls revamp
▼ + stars: | 2023-10-24 | by ( Mimosa Spencer | ) www.reuters.com time to read: +2 min

The logo of French luxury group Kering is seen at Kering headquarters in Paris, France, February 13, 2023. REUTERS/Sarah Meyssonnier/File Photo Acquire Licensing RightsPARIS, Oct 23 (Reuters) - French luxury group Kering(PRTP.PA) reported a bigger-than-expected drop in third quarter sales, underperforming major rivals as its top brand Gucci and other fashion labels all suffered from a slowing appetite for high-end clothes and accessories. LVMH (LVMH.PA), the world's biggest luxury group and one of Europe's biggest companies by market value, this month also reported a slowdown in third-quarter sales -- although it still clocked an increase in revenues with sales at its fashion and leather goods division up 9%. And Birkin bag-maker Hermes on Tuesday reported a rise in sales of 15.6%. Kering has undertaken a sweeping overhaul aimed at reviving Gucci, which has struggled to capitalise on the strong post-pandemic rebound in luxury goods sales and lost ground to rivals like LVMH's Dior and Louis Vuitton.

Persons: Sarah Meyssonnier, Yves, Yves Saint Laurent, Balenciaga, Saint Laurent, Jean, Marc Duplaix, Kering, Birkin, Hermes, LVMH's Dior, Louis Vuitton, Mimosa Spencer, Silvia Aloisi Organizations: REUTERS, Rights, Gucci, Yves Saint, Bottega, Thomson Locations: Paris, France, Bottega, Milan

☆ Ozempic Maker Novo Nordisk Has a Weight Problem
▼ + stars: | 2023-10-23 | by ( Stephen Wilmot | ) www.wsj.com time to read: 1 min

Ozempic packets at a Novo Nordisk facility. When the company’s shares become more than 10% of Danish fund managers’ holdings, they are forced to sell. Photo: Carsten Snejbjerg/Bloomberg NewsThe company behind diabetes and obesity phenomena Ozempic and Wegovy is overweight. Novo Nordisk became Europe’s most valuable company last month, overtaking luxury goods maker LVMH, which itself took the title from food giant Nestlé in 2021. This might be a reason why the shares trade at a discount to those of its closest peer, U.S.-listed Eli Lilly .

Persons: Carsten Snejbjerg, Eli Lilly Organizations: Novo Nordisk, Bloomberg Locations: Novo, Danish

☆ Elon Musk's fortune plunged by $16 billion in a single day - but he could lose a lot more and still be the richest person in the world
▼ + stars: | 2023-10-20 | by ( Nidhi Pandurangi | ) www.businessinsider.com time to read: +2 min

Tesla stock tumbled 9% on Thursday after the EV maker reported disappointing third-quarter earnings. The share-price decline meant Elon Musk's net worth fell by $16 billion in a single day. However, Musk remains the world's richest person with an estimated $210 billion fortune. Even so, Musk remains the richest person in the world with an estimated net worth of $210 billion. On Wednesday, Tesla reported third-quarter revenues of $23.35 billion, missing Wall Street expectations of $24.06 billion.

Persons: Elon, Musk, —, Elon Musk, Bernard Arnault, Arnault, Jeff Bezos, Bezos, Tesla Organizations: Service, Bloomberg, Big Tech

☆ EssilorLuxottica sees 'slight deceleration' in Q3 vs first half
▼ + stars: | 2023-10-19 | by ( ) www.reuters.com time to read: +1 min

A logo of EssilorLuxottica exhibition space is displayed at SILMO in Villepinte, near Paris, France September 24, 2022. REUTERS/Benoit Tessier/File Photo Acquire Licensing RightsOct 19 (Reuters) - Luxury eyewear maker EssilorLuxottica (ESLX.PA) on Thursday reported third-quarter revenue of 6.3 billion euros ($6.68 billion) with Asia-Pacific sales growth of 11.75% bolstered by China. Shares of luxury goods companies have come under pressure as cash-strapped consumers cut spending on high-end goods, while growth has also been slowing in China. French luxury company LVMH (LVMH.PA) last week reported slower sales growth in the third quarter. EssilorLuxottica reiterated its 2023 target of "mid-single-digit annual revenue growth" from 2022 to 2026 and an operating profit representing 19% to 20% of revenue by the end of that period.

Persons: Benoit Tessier, Ray, Bernstein, EssilorLuxottica, Stéphanie Hamel, Olivier Sorgho, Jane Merriman Organizations: REUTERS, Thomson Locations: Villepinte, Paris, France, Asia, Pacific, China, North America

☆ European shares slip as Middle East fears, ASML weigh
▼ + stars: | 2023-10-18 | by ( ) www.reuters.com time to read: +1 min

The German share price index DAX graph is pictured at the stock exchange in Frankfurt, Germany, October 16, 2023. REUTERS/Staff/File photo Acquire Licensing RightsOct 18 (Reuters) - European stocks inched lower on Wednesday as deepening fears over an escalation in the Middle East conflict and a drop in ASML shares after the chipmaker's lacklustre forecast overshadowed support from upbeat economic data from China. The pan-European STOXX 600 index (.STOXX) was down 0.2% by 0703 GMT. Adidas (ADSGn.DE) jumped 4.7% after the sportswear firm lifted its revenue forecast and cut its expected loss for 2023. Data showed British annual consumer price inflation was unchanged at 6.7% in September, bucking economists' expectations for a further decline.

Persons: Joe Biden's, ASML, Amruta Khandekar, Sherry Jacob, Phillips Organizations: REUTERS, Staff, U.S, Adidas, Thomson Locations: Frankfurt, Germany, China, Gaza, Israel

☆ Leonardo da Vinci's vineyard closed to public by its billionaire owner
▼ + stars: | 2023-10-17 | by ( Julia Buckley | ) edition.cnn.com time to read: +7 min

La Vigna di Leonardo – or Leonardo’s Vineyard – is said to be what remains of the Milan vineyard owned by Leonardo da Vinci. He bought the Casa degli Atellani – two 15th-century conjoined houses in whose back garden the vineyard sits – in December 2022. The land Da Vinci fought forThe Casa degli Atellani has been bought by billionaire Bernard Arnault. But da Vinci didn’t forget his vineyard, writing notes about it in his “Codex Atlanticus” and successfully arguing for its return to him in 1507. “I hope the Casa degli Atellani and Leonardo da Vinci’s vineyard will remain open to the public,” she said.

Persons: we’ll, Stanley Tucci, Leonardo –, –, Leonardo da Vinci, delle, Vinci, Bernard Arnault, Arnault, Louis Vuitton, Moët Hennessy, Da Vinci, Ludovico ‘ Il Moro ’ Sforza, Sforza, ”, It’s, Leonardo, Luca Beltrami waded, Beltrami, da Vinci, Piero Portaluppi, Francesca Grignaffini, Atellani, Leonardo itineraries, wasn’t, Italy ’, LVMH, Francesca Caruso, she’s, Leonardo da, “ I’ve, Milan Organizations: CNN, intel, Louis, Casa, Independent, Agency, Alamy Locations: Milan, Santa, da Vinci, France, candia, Italy, Arnault, LVMH, Lombardy

☆ 'Wolf in cashmere' Bernard Arnault loses his slot as the world's 2nd-richest man to Jeff Bezos as LVMH stock slips
▼ + stars: | 2023-10-17 | by ( George Glover | ) www.businessinsider.com time to read: +2 min

Jeff Bezos overtook LVMH tycoon Bernard Arnault as the world's second-richest man, per Bloomberg. AdvertisementAdvertisementLVMH founder Bernard Arnault is no longer the world's second-richest person, with his total wealth falling below Jeff Bezos' net worth amid signs of a slowdown in demand for luxury goods. In contrast, Bezos' fortune has ballooned by $49 billion to $156 billion, putting him just ahead of Arnault's $155 billion on Bloomberg's rich list. AdvertisementAdvertisementBoth Bezos and Arnault have previously held the title of the world's richest person, but they currently trail Elon Musk. The controversial X owner's personal fortune has swelled by $97 billion to $234 billion this year, thanks to Tesla's stock price surging by over 100%.

Persons: Jeff Bezos, Bernard Arnault, —, Louis Vuitton, Hennessy —, Bezos Organizations: Bloomberg, Service, Federal, Elon

☆ Posting About Israel and Palestine Is Not a Moral Obligation - The New York Times
▼ + stars: | 2023-10-17 | by ( Elizabeth Spiers | ) www.nytimes.com time to read: +3 min

Sitting with uncertainty is hard, especially when social media has primed us to expect perfect real-time information during traumatic events and to want instantaneous answers and resolution. Knee-jerk social media posts are not what bother me most, though. Instead, it’s the idea that not posting is wrong somehow — that everyone needs to speak, all the time. It implies it’s not OK to have any uncertainty about what’s going on or any kind of moral analysis that does not lend itself to presentation in a social media post. If the destruction of Gaza is not the goal, it is a very real possibility, and that should be equally unacceptable.

Persons: ”, LVMH Moët Hennessy Louis Vuitton Organizations: Hamas Locations: Israel, Manhattan, Gaza

☆ Priced for earnings recession, European equities could weather storm
▼ + stars: | 2023-10-17 | by ( Joice Alves | ) www.reuters.com time to read: +5 min

After a long period of scepticism towards European equities, some investors and analysts are finding cause for optimism. European companies are expected to enter their first earnings recession - two consecutive quarters of falling earnings - since 2020. But European stocks are better priced for a recession than their U.S. counterparts, said Matthew McLennan, co-head of First Eagle’s Global Value team. First Eagle's McLennan said the weaker euro in part supported the outlook for European equities. "There's some possibility that European equities, by both their valuation and their currency valuation, could do better than U.S. equities over a period of time".

Persons: Jefferies, Mohit Kumar, LSEG, Matthew McLennan, Goldman Sachs, Oliver Collin, Europe's, Collin, LVMH, Ayesha Akbar, Eagle's McLennan, Joice Alves, Mark Potter Organizations: Silicon Valley Bank, Credit Suisse, Deutsche Bank, U.S, drugmaker Novo Nordisk, Fidelity, Thomson Locations: Frankfurt, Silicon, Germany, U.S

☆ Shares of luxury brands are tumbling in a sign consumers' high-end spending spree is over
▼ + stars: | 2023-10-14 | by ( Jennifer Sor | ) www.businessinsider.com time to read: +4 min

The boom in luxury goods is over as consumers pull back on their multiyear high-end spending spree. AdvertisementAdvertisementIn the US, card spending for luxury fashion has been on the decline for six quarters in a row, with luxury fashion spending down 16% year-over-year over the past quarter, Bank of America card data shows. Card spending on luxury fashion has declined for six quarters in a row. Bank of AmericaUS card spending on luxury fashion declined 16% year-per-year the past quarter, Bank of America forecasts. That's because European investors often say tech stocks are a competitor to luxury stocks in their portfolios, Colas said.

Persons: —, LVMH, DataTrek, Nicholas Colas, Ralph Lauren, Colas, Kelly Organizations: Service, Bloomberg, Bank of America, Bank of America US, Industry, Consumers, San Francisco Fed, Tech Locations: LVMH, Paris

☆ Fashion brands want you to be able to identify fake designer merchandise
▼ + stars: | 2023-10-13 | by ( Jacqui Palumbo | ) edition.cnn.com time to read: +13 min

‘It’s almost seen as a hack’These tactics are all part of the industry’s hope to neutralize the booming counterfeit market, with some estimates asserting that fake fashion and luxury items account for 60% or more of the multi-trillion-dollar trade in fake goods. Sympathy for brands “can be hard for consumers in general, particularly those who are deeply steeped in TikTok culture,” Scafidi said. According to Business of Fashion, the average price for a women’s designer handbag in the US spiked 27% from 2019 to 2022. Last year saw record-breaking profits for the luxury sector, with around 95% of brands seeing growth, according to an estimate by consulting firm Bain & Company. “Right now, vintage is on trend, and we actually see new replicas of vintage items — items that were made in the ’80s or ’90s,” Thompson said.

Persons: Louis Vuitton, Cartier, Birkin, Miu Miu, Chanel, ”, Simon Lock, LVMH, Maison, OTB, ‘ It’s, dupes, Counterfeiters, Sarah Davis, “ it’s, what’s, Susan Scafidi, “, Leah Abucayan, ” Scafidi, Fashionphile, Davis, Hunter Thompson, “ It’s, ” Thompson, ” Davis, Scafidi, Romain Carrere, “ We’re, ” Carrere, it’s Organizations: CNN, luxe, Ordre Group, Burberry, Prada Group, Dior, Prada, YouTube, Social, Fashion Law, Business of Fashion, Bain & Company, Technology, Blockchain Locations: Fashionphile, Europe, —

☆ Birkenstock's IPO is set to boost another footwear stock by 65%, analyst says
▼ + stars: | 2023-10-13 | by ( Ganesh Rao | ) www.cnbc.com time to read: +3 min

Birkenstock 's recent initial public offering (IPO) is expected to help boost shares of British footwear brand Dr. Martens , according to Investec analysts. The analysts pointed out that Birkenstock's sales last year were slightly higher than Dr. Martens' projected sales this year. However, the German company sells over twice the volume of footwear as Dr. Martens, which has a higher average selling price. DOCS-GB YTD line Similarities and differences Birkenstock's business model and brand ethos have many similarities to Dr. Martens, according to the analysts. RBC said it has a "Sector Perform" rating, equivalent to "hold" at other investment banks, on Dr. Martens.

Persons: Birkenstock, Martens, Kate Calvert, Ben Hunt, Dr Martens Organizations: New York Stock Exchange, RBC Capital Markets, RBC Locations: London, British, Germany, U.S, Europe, Asia, Pacific

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