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☆ Hermes eyes big price rises, says no sign of slowdown
▼ + stars: | 2022-10-20 | by ( ) www.reuters.com time to read: +1 min

The logo of Hermes is seen on a store in Paris, France, April 24, 2020. "We will probably have price hikes between 5 and 10 percent," Hermes executive vice president of finance Eric du Halgouet told reporters on Thursday, adding this was due to rising labour costs and currency fluctuations. Register now for FREE unlimited access to Reuters.com RegisterThe company raised prices by around 4% this year and by 1.5-2% on average in previous years. "Sales in Greater China picked up strongly, despite temporary closures due to sanitary measures mainly in Macau, Chengdu and Dalian in July and August," the company said in a statement. ($1 = 1.0222 euros)Register now for FREE unlimited access to Reuters.com RegisterReporting by Mimosa Spencer, editing by Silvia AloisiOur Standards: The Thomson Reuters Trust Principles.

☆ Hermes plans big price rises, says no sign of slowdown
▼ + stars: | 2022-10-20 | by ( Mimosa Spencer | ) www.reuters.com time to read: +2 min

"We will probably have price hikes between 5 and 10 percent," Hermes executive vice president of finance Eric du Halgouet told reporters on Thursday, blaming increased costs and currency movements. Hermes, which has waiting lists for its prized $10,000-plus handbags and limits production to maintain exclusivity, increased prices by around 4% this year and by 1.5-2% on average in previous years. That compares with double-digit price hikes at Chanel. "For the moment, we don't see any sign of slowdown in any of our markets,” said du Halgouet. The Hermes figures suggest that "high-end global luxury goods demand has yet to normalise," said Luca Solca, analyst at Bernstein.

☆ Political uncertainty, rising rates weigh on UK stocks
▼ + stars: | 2022-10-20 | by ( ) www.reuters.com time to read: +1 min

SummarySummary Companies FTSE 100 down 0.2%, FTSE 250 off 0.3%Oct 20 (Reuters) - Worries over a deepening political crisis in the UK and rising interest rates globally kept London's main stock indexes under pressure on Thursday, with shares of homebuilders edging toward a multi-year low hit recently. UK's housing index (.FTNMX402020), which hit a near decade low last week, slipped 1.5% as rising interest rates fuelled concerns about affordability and a sharp slowdown in the sector. The blue-chip FTSE 100 (.FTSE) slipped 0.2% by 0715 GMT, while the midcap FTSE 250 index (.FTMC) dropped 0.3%. read moreA bright spot was luxury goods maker Burberry (BRBY.L), up 1.7%, after French peer Hermes (HRMS.PA) reported a sharp rise in sales growth. Register now for FREE unlimited access to Reuters.com RegisterReporting by Sruthi Shankar in Bengaluru; Editing by Anil D'SilvaOur Standards: The Thomson Reuters Trust Principles.

☆ First on CNN: GM investing in mushroom leather startup
▼ + stars: | 2022-10-18 | by ( Peter Valdes-Dapena | ) edition.cnn.com time to read: +4 min

CNN Business —General Motors’ venture capital arm has invested in a California startup that’s making imitation leather from mushrooms. It could provide an alternative to both traditional leather made from animal skins, usually cattle, and artificial leather made from plastics. The resulting material feels like leather, has similar durability and can be colored using processes that do not involve harmful substances, just as animal-based leather can. Using various processes company representatives declined to discuss, the mycelia are made to interweave as they grow, forming the leather-like material. MycoWorks and GM Ventures both declined to say how much GM Venture is investing.

"It's a catch-up, or catch-down, kind of effect," said Galvin Chia, an emerging markets strategist at NatWest Markets. "There are some exceptional factors, but none of these would provide that kind of panacea for underlying risks that remain." Indonesia's foreign exchange reserves fell by $1.4 billion last month to $130.8 billion, due to debt payments and Bank Indonesia's efforts to stabilise the rupiah. read moreData for September also showed a surge in Indonesia's inflation to a seven-year high, reflecting a jump in fuel prices. "If you look at consumption, look at credit growth, everything is domestic, unlike the other export markets in Asia.

☆ LVMH's resilience gives luxury shares a boost amid economic gloom
▼ + stars: | 2022-10-12 | by ( ) www.reuters.com time to read: +2 min

"LVMH's 3Q22 print will likely reassure on the health of the high-end consumer in the run-up to the festive season," said Thomas Chauvet of Citi. He said he had seen no signs that lower product categories were underperforming -- a category that has been closely eyed for signs of weakness. Analysts have been on the look out for signs of weakness in more aspirational products as younger shoppers face rising living costs. Guiony flagged a strong performance in watches -- luxury products that tend to do well in an inflationary environment because they hold their value. Hermes and Kering (PRTP.PA) report third quarter sales on Oct. 20.

☆ European shares fall for sixth day on earnings jitters
▼ + stars: | 2022-10-12 | by ( ) www.reuters.com time to read: +3 min

Weak results from Barratt Developments (BDEV.L), Britain's largest housebuilder, sparked a selloff in the sector. read more"Although depressed sentiment and cheapened valuations are tailwinds for European stocks, the region's macroeconomic outlook remains a potent headwind that could lead to further downside for European earnings," analysts at BCA Research wrote in a note. Overall, European companies are expected to report a 29.4% increase in third-quarter profit, slightly below the 33.2% rise forecast at the start of October, as per Refintiv IBES data. read moreOther luxury stocks such as Hermes (HRMS.PA), L'Oreal (OREP.PA) and Christian Dior (DIOR.PA) gained between 0.9% and 2.7%. Register now for FREE unlimited access to Reuters.com RegisterReporting by Sruthi Shankar in Bengaluru; Editing by Savio D'Souza and Dhanya Ann ThoppilOur Standards: The Thomson Reuters Trust Principles.

☆ Sales at the world's largest luxury brand jump on strong demand
▼ + stars: | 2022-10-11 | by ( ) www.nbcnews.com time to read: +2 min

French luxury goods giant LVMH beat market forecasts in the third quarter, posting a sharp rise in sales as wealthy shoppers splashed out on fashion and Americans in Europe made the most of the strong dollar. The world’s biggest luxury group, home to fashion brands such as Louis Vuitton and Dior, got an added boost from improved business in China as COVID-19 curbs eased. The group’s fashion and leather goods division led the jump in sales with a 22% increase on the same period a year ago. The third-quarter results for LVMH, which also owns Sephora and Bulgari, kicks off earnings season for the industry. Rivals Hermes and Gucci owner Kering will both report sales for the three months on Oct. 20.

☆ BoE quantitative tightening likely to be delayed until later this year -fund manager
▼ + stars: | 2022-10-11 | by ( ) www.reuters.com time to read: +1 min

LONDON, Oct 11 (Reuters) - The Bank of England should consider giving markets "some comfort" around its quantitative tightening timetable, and will likely push back the long-anticipated policy change until later this year, a portfolio manager at U.S.-based investment manager Federated Hermes said on Tuesday. Orla Garvey, senior fixed income portfolio manager at Federated Hermes, said the central bank's quantitative tightening (QT), which is set to start on Oct. 31, was likely to be delayed until later this year. QT is a monetary policy used to shrink central bank balance sheets. "There are a lot of risk events coming that could impact market stability in the next few weeks, with the OBR report scheduled at the end of the month, and multiple central bank meetings," Garvey, referring to the Office for Budget Responsibility report due Nov. 23, said in a statement supplied to Reuters. Register now for FREE unlimited access to Reuters.com RegisterReporting by Sinead Cruise and Muvija M; editing by Jonathan OatisOur Standards: The Thomson Reuters Trust Principles.

☆ LVMH sales jump by 19% in third quarter, beating forecasts
▼ + stars: | 2022-10-11 | by ( ) www.reuters.com time to read: +1 min

PARIS, Oct 11 (Reuters) - French luxury goods giant LVMH (LVMH.PA) beat market forecasts in the third quarter, posting a brisk rise in sales as wealthy shoppers continued to splash out on fashion, with an added boost from improved business in China as COVID-19 curbs eased up. Sales at the world's biggest luxury group came to 19.8 billion euros ($19.2 billion), up 19% on a comparable basis from a year earlier, beating analyst expectations for 13% growth according to a Visible Alpha consensus. The third quarter results for LVMH, which also owns Sephora, Bulgari and Tiffany & Co., kicks off earnings season for the industry. Rivals Hermes (HRMS.PA) and Gucci owner Kering (PRTP.PA) will report sales for the three months on Oct. 20. ($1 = 1.0277 euros)Register now for FREE unlimited access to Reuters.com RegisterReporting by Mimosa Spencer, editing by Silvia AloisiOur Standards: The Thomson Reuters Trust Principles.

☆ French luxury groups to highlight sector's resilience as demand holds up for now
▼ + stars: | 2022-10-10 | by ( Mimosa Spencer | ) www.reuters.com time to read: +2 min

PARIS, Oct 10 (Reuters) - French luxury groups LVMH (LVMH.PA), Gucci-owner Kering (PRTP.PA) and Hermes (HRMS.PA) are expected to post double-digit third-quarter sales growth as demand for high-end fashion from tourists and shoppers revamping post-pandemic wardrobes remains strong. Without citing a corresponding inflation figure, UBS estimates prices for the sector increased by 4.6% on average this year, through July. A Visible Alpha consensus cited by the bank points to 13% organic sales growth. Pusz expects 13% organic sales growth for Kering and 15% growth at constant rates from Hermes, over the period. LVMH posts third-quarter revenue on Oct. 11, while Kering and Hermes announce results on Oct. 20.

Volkswagen priced Porsche AG shares at the top end of the indicated range and raised 19.5 billion euros from the flotation to fund the group's electrification drive. Porsche AG stock was trading up 3% from the issue price of 82.50 euros at 1035 GMT. That lifted Porsche AG's valuation to 77.4 billion euros, close to the market capitalisation of Volkswagen as a whole, which is worth around 80.1 billion euros, and puts it ahead of rivals like Ferrari (RACE.MI). Shares in Volkswagen and holding firm Porsche SE (PSHG_p.DE), which owns a blocking minority in Porsche AG, were down 4.6% and 8%, respectively, as investors switched across. Up to 113,875,000 preferred Porsche AG shares, carrying no voting rights, were sold in the initial public offering.

☆ Chinese snap up used Rolexes, Birkins to satisfy luxury cravings amid slowdown
▼ + stars: | 2022-09-28 | by ( Casey Hall | ) www.reuters.com time to read: +4 min

"More and more people are now aware they can sell luxury goods for some money and the buyer side is noticing that they can get a great deal," said Zhu, 33. China's second-hand luxury market is tipped to grow to $30 billion in 2025 from $8 billion in 2020, consultancy iResearch said late last year. HANDBAGS, JEWELLERYOffice worker Wang Jianing is exploring buying second-hand luxury products, given the economic climate. China's luxury resale marketplace is expected by analysts to remain dominated by local players for now. Though handbags remain the top-selling category on luxury platforms like ZZER, Zhu said sales of watches and jewellery are also growing fast.

Insider asked 12 top VCs what ad and marketing tech companies excited them the most this year. Check out the 19 most promising adtech startups, and what they do that makes them unique. It hopes to raise a Series A funding round in the coming months. Emperia is currently raising its next funding round. Why it's on the list: Tech companies are being scrutinized for their wasting energy consumption, and the digital advertising industry is no exception.

☆ Investors should not be selling bonds right now, says Federated Hermes' R.J. Gallo
▼ + stars: | 2022-09-23 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailInvestors should not be selling bonds right now, says Federated Hermes' R.J. GalloGreg Branch, founder and managing partner at Veritas Financial, and R.J. Gallo, senior portfolio manager and head of the municipal bond investment group at Federated Hermes, join CNBC's 'Squawk Box' to break down how investors should navigate markets amid higher interest rates.

As the Apple Watch family gets bigger, the picking the best Apple Watch for you gets harder and harder. Over the last few years, we've gotten three different models of Apple Watch to choose from: The Apple Watch Series 8, the Apple Watch SE (2nd generation), and the Apple Watch Ultra. Apple Watch SE vs Series 8: Emergency safety featuresBoth the Apple Watch Series 8 and SE (2nd generation) have the same emergency safety features. Apple Watch SE (2nd generation)GPS GPS + Cellular 40mm $249 $299 44mm $279 $329Insider's takeawayTo sum it all up, the Apple Watch Series 8 and Apple Watch SE are remarkably similar. Great Price Apple Watch Series 8 (41mm, GPS) The Apple Watch Series 8 features a temperature sensor, car crash detection, and low-power mode.

Persons: we've, Here's, you'll, It'll, you've Organizations: Apple Watch, Apple, Apple Apple, Price Apple, Amazon Apple

Apple AirTag and Tile trackers are both compact Bluetooth trackers that help you find lost items. In addition to Bluetooth, AirTag also uses Ultra Wideband technology to enable an Apple-exclusive feature called "Precision Finding." AirTag and Tile trackers also have features designed to locate items when they're outside of Bluetooth range. AirTags integrate directly with Apple's anonymous Find My network, which uses other people's Apple devices to help locate your item. Meanwhile, Tile trackers are designed to be stuck on to objects with an adhesive.

Persons: Apple's, AirTag, Slim, Belkin, It's Organizations: Apple, Service, Bluetooth Locations: Wall, Silicon

HermèsHermès was hit with a proposed class-action antitrust lawsuit on Tuesday over what litigants allege is an illegal requirement for Birkin hopefuls to purchase ancillary products from the brand. Susan Scafidi, the director at Fordham University's Fashion Law Institute, told BI it would be difficult for plaintiffs to prove that Hermès' has a "lockstep policy" on how much a customer should purchase to access a Birkin or how sales associates determine who gets a bag. Melissa K. Dagodag, an attorney specializing in business law, also told BI that the lawsuit would be difficult to prove. "Maybe Birkin bags will become less of a status symbol and more of an 'I'm a sucker' symbol, casting buyers in some kind of unintended dark light," Dagodag told BI. "In other words, there may never be a better time for an ordinary customer with thousands to spend on a bag to go shopping," Scafidi told BI.

Persons: Hermès, Birkin, Gross, he's, Susan Scafidi, Melissa K, Dagodag, Scafidi Organizations: Fordham University's Fashion Law, Lawyers

☆ Insider Life: Airbnb for pools — Ritzy summer camp drama — Exclusive NY club
▼ + stars: | 2021-07-23 | by ( Jordan Parker Erb | ) www.businessinsider.com time to read: +3 min

We spent a day at the exclusive members-only club, where the wealthy escape to homes starting at $2.7 million. Raquette Lake Camp; Tyler Hill Camp; Timber Lake Camp; Camp Modin; Samantha Lee/InsiderStressed-out parents at some of the country's fanciest summer camps are driving staff nuts over their kids' photos. Maximilian BüsserSwitzerland-born Maximilian Büsser left corporate jobs at large watch companies to start his own brand, MB&F. The luxury watch designer, who travels between Dubai and Geneva, is known for producing futuristic-looking timepieces inspired by characters like Captain Kirk, and that sell for up to $500,000. Inside the daily routine of a luxury watch brand founder.

☆ VIOPark – место, в котором выращиваются абсолютно чистые растения
▼ + stars: | 2021-07-09 | by ( Mld Media Srl | ) noi.md time to read: +1 min

Мы нашли ответ на этот вопрос в Новоаненском районе, где познакомились с уникальной экологической плантации VIOPark, созданная холдингом Daac-Hermes и компанией Viorica. В VIOPark-е выращиваются десятки разных культур, которые крупнейший производитель парфюмерно-косметической продукции Молдовы «Viorica Cosmetic» использует в качестве сырья для производства своей косметики. Проект был разработан и реализован при поддержке Зеппа Хольцера (Sepp Holzer) – международного эксперта по экологическому земледелию, признанного мировым лидеров в области пермакультуры. Практически дикие условия и полное отсутствие химикатов позволяют достигнуть невероятный результат – высокое содержание в травах активных веществ и полезных фитокомпонентов. VIOPark находится примерно 60 км к западу от Кишинева, в экологически чистом регионе Республики Молдова рядом с селом Варница района Анений Ной.

Persons: Зепп Хольцер, Анений Ной Locations: Новоаненский район, Молдова, Кишинев, Республика Молдова, Варница район, Днестр

☆ Заявление: "Из-за непрофессионального управления государством в Молдове очень много бедных людей"
▼ + stars: | 2021-07-06 | by ( Mld Media Srl | ) noi.md time to read: +1 min

В Молдове, к сожалению, вследствие не очень профессионального управления государством за последние 30 лет намного выросло количество бедных людей. Об этом заявил муниципальный советник столицы, глава Комиссии по строительству, архитектуре и земельным отношениям, президент компании DAAC-Hermes Василий Киртока, выступая в программе "Вечерний разговор", передает Noi.md. Бизнесмен признался, что для него это вещь очень неприятная и грустная, и он старается по возможности помогать нуждающимся. И поэтому много людей обращаются за помощью и очень трудно им отказать, потому что у нас люди, в большинстве своем, просто так не придут просить. Всем помочь не можем, но мы стараемся...", - подчеркнул Василий Киртока.

Persons: Василий Киртока, Вечерний Organizations: Комиссия по строительству Locations: Молдова

☆ Киртока: "Некоторые деятели скрывают свою никчемность заявлениями о борьбе с "интересами"
▼ + stars: | 2021-07-06 | by ( Mld Media Srl | ) noi.md time to read: +2 min

Об этом заявил муниципальный советник столицы, глава Комиссии по строительству, архитектуре и земельным отношениям, президент компании DAAC-Hermes Василий Киртока , выступая в программе "Вечерний Разговор", передает Noi.md. А вот у него там киоски, а вот у него там автоцентры, а у него там супермаркеты, у него там интересы!"... Научитесь отличать шкурные интересы от интересов, которые совпадают с интересами страны и города. Это важнейший вопрос, о котором я начал говорить", - отметил Василий Киртока. Есть ли у него шкурные интересы?

Persons: Василий Киртока, Вечерний Разговор Organizations: Комиссия по строительству, Муниципальный совет

☆ Заявление: "В Молдове очень ограничен доступ к качественному финансированию для развития"
▼ + stars: | 2021-07-05 | by ( Mld Media Srl | ) noi.md time to read: +1 min

"В Молдове очень ограничен доступ к качественному финансированию для развития, и это - ключевой вопрос для развития любого государства". Об этом заявил муниципальный советник столицы, глава Комиссии по строительству, архитектуре и земельным отношениям, президент компании DAAC-Hermes Василий Киртока, выступая в программе "Вечерний разговор", передает Noi.md. По его словам, если есть люди с идеями, люди, которые способны генерировать проекты развития, то государство обязано обеспечить этим людям качественный доступ к качественному финасированию. Сегодня мы не можем получить кредиты в леях, на которые мы можем что-то развивать. Потому что кредиты в валюте годятся только для того, чтобы купить что-то за рубежом", - подчеркнул Василий Киртока.

Persons: Василий Киртока, Вечерний Organizations: Комиссия по строительству, Нацбанк Locations: Молдова, Запад

☆ Мараховский: "Обвинения в адрес Piscicola Ivancea и DAAC Hermes – грязные инсинуации"
▼ + stars: | 2021-07-05 | by ( Mld Media Srl | ) noi.md time to read: +3 min

В последнее время участились агрессивные нападки в адрес предприятия Piscicola Ivancea и компании DAAC Hermes, а также обвинения их в якобы незаконной аренде леса, "прихватизации" озер, незаконных постройках в лесу, вырубке леса и так далее. Об этом Noi.md заявил директор АО Piscicola Ivancea Виктор Мараховский. Могу с уверенностью сказать, что на наших участках, за которые мы отвечаем, никакой незаконной вырубки не проводится в принципе. "Нас обвиняют в незаконной вырубке леса и тому подобное. - отметил Виктор Мараховский.

Persons: Piscicola, Hermes, Noi.md, Василий Афанасьевич Киртоки, Виктор Мараховский, Шор, Машкауцами Organizations: АО, Молдсилва Locations: Бранештами

☆ Мараховский: "Обвинения в адрес Piscicola Ivancea т DAAC Hermes – грязные инсинуации"
▼ + stars: | 2021-07-05 | by ( Mld Media Srl | ) noi.md time to read: +3 min

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