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[1/6] A model presents a creation by designer Nicolas Ghesquiere as part of his Spring/Summer 2024 Women's ready-to-wear collection show for fashion house Louis Vuitton during Paris Fashion Week in Paris, France, October 2, 2023. REUTERS/Stephanie Lecocq Acquire Licensing RightsPARIS, Oct 2 (Reuters) - Louis Vuitton (LVMH.PA) womenswear designer Nicolas Ghesquiere sent out a lineup of tailored styles with a geometric touch for the LVMH-owned label's spring runway show, which was held in a gutted-out building on the famous Champs Elysees in Paris. Shimmery jumpsuits with low necklines and glossy miniskirts added extra shine, while high-waisted trousers were elevated with voluminous sleeves. Paris Fashion Week winds up Tuesday, with labels including Chanel and Miu Miu. Reporting by Mimosa Spencer, Editing by Rosalba O'BrienOur Standards: The Thomson Reuters Trust Principles.
Persons: Nicolas Ghesquiere, Louis Vuitton, Stephanie Lecocq, strode, Zendaya, Louis Vuitton's, Pharrell Williams, Felix, Chanel, Miu Miu, Mimosa Spencer, Rosalba O'Brien Organizations: Paris, REUTERS, Rights, Thomson Locations: Paris, France
PARIS, Oct 1 (Reuters) - Balenciaga designer Demna Gvasalia took a personal turn for the luxury label's runway show in Paris on Sunday, sending out a lineup of reconstructed trench coats, oversize bomber jackets and floor-sweeping floral gowns on an eclectic cast of models plucked from his entourage. His mother opened the show, marching down a long runway set like a stage and lined with draped red velvet curtains, wearing pointy heels and a long, roomy trench coat, navy blue on one side, black on the other, tightly cinched at the waist with a cloth belt. Closing the show was the designer's husband, Loik Gomez, a music artist known as BFRND, in a wedding dress. Worn with a long, white lace veil over his head, the dress was made from seven dresses, “cut, tiered and piled together anew,” according to the show notes. Reporting by Mimosa Spencer; Editing by David HolmesOur Standards: The Thomson Reuters Trust Principles.
Persons: Demna Gvasalia, Isabelle Huppert, Demna, Cathy Horyn, Loik Gomez, Mimosa Spencer, David Holmes Organizations: Thomson Locations: Paris
PARIS, Sept 30 (Reuters) - A financial transaction under investigation in France involving LVMH owner Bernard Arnault was carried out in full respect of the law, his lawyer said on Saturday. The Paris public prosecutor's office confirmed on Friday that it is investigating financial transactions involving Arnault and Russian businessman Nikolai Sarkisov. In France, a prelimary investigation does not necessarily imply wrongdoing by those concerned, for whom the presumption of innocence applies. An unidentified Tracfin official told Le Monde the transactions involving Arnault and Sarkisov, who both acted through a complex web of legal entities, could have been aimed at concealing the origins of the funds used. Reporting by Mimosa Spencer; writing by Leigh Thomas; editing by Christina FincherOur Standards: The Thomson Reuters Trust Principles.
Persons: Bernard Arnault, Nikolai Sarkisov, Sarkisov, Cheval, Jacqueline Laffont, Le, Mimosa Spencer, Leigh Thomas, Christina Fincher Organizations: Reuters, Le Monde, Thomson Locations: France, Paris, Russian, Le, Cheval Blanc, Courcheval
[1/5] Naomi Campbell presents a creation by designers Sebastien Meyer and Arnaud Vaillant as part of their Spring/Summer 2024 Women's ready-to-wear collection show for fashion brand Coperni during Paris Fashion Week in Paris, France, September 29, 2023. REUTERS/Johanna Geron Acquire Licensing RightsPARIS, Sept 30 (Reuters) - Coperni designers Sebastien Meyer and Arnaud Vaillant held their fashion week outing in a vast underground sound research centre in the heart of Paris, showcasing sporty ultra-modern styles with tech devices, the Humane Ai Pin, fastened to lapels. Models, including Naomi Campbell, emerged on the runway, moving swiftly in loose suits, sheer fitted dresses, bra tops and jeans. The label, founded in 2013, is known for generating buzz during Paris Fashion Week, last year spray painting a dress on Bella Hadid, and more recently, sending robot dogs onto the runway. Paris Fashion Week runs until Oct. 3 and features brands including Chanel, Hermes and LVMH-owned Louis Vuitton.
Persons: Naomi Campbell, Sebastien Meyer, Arnaud Vaillant, Johanna Geron, Ai, Bella Hadid, Chanel, Hermes, Louis, Mimosa Spencer, Sonali Paul Organizations: REUTERS, Rights, Puma, Louis Vuitton, Thomson Locations: Paris, France
[1/5] Models present creations by designer Nadege Vanhee-Cybulski as part of her Spring/Summer 2024 Women's ready-to-wear collection show for fashion house Hermes during Paris Fashion Week in Paris, France, September 30, 2023. REUTERS/Stephanie Lecocq Acquire Licensing RightsPARIS, Sept 30 (Reuters) - Hermes artistic director Nadege Vanhee-Cybulski evoked a country garden for her spring show at Paris Fashion Week on Saturday, seating the audience among wildflowers and grassy borders as she showed sleek coats, silk skirts and slim, skin-baring dresses. Audience member Bryanboy, a digital creator whose real name is Bryan Yambao and who regularly attends runway shows, leapt out of his seat and snatched the banner away from the protester. There have been several incidents involving protesters disrupting catwalk shows this season, including at a Coach show in New York. Paris Fashion Week runs until October 3, featuring dozens of labels including Chanel and LVMH-owned Louis Vuitton.
Persons: Nadege, Hermes, Stephanie Lecocq, Nadege Vanhee, baring, Coats, Bryanboy, Bryan Yambao, gesturing, Chanel, Louis, Mimosa Spencer, Helen Popper Our Organizations: REUTERS, Rights, Paris, Reuters, Louis Vuitton, Thomson Locations: Paris, France, New York
[1/7] Models present creations by designer Dries Van Noten as part of his Spring/Summer 2024 Women's ready-to-wear collection show during Paris Fashion Week in Paris, France, September 27, 2023. REUTERS/Johanna Geron Acquire Licensing RightsPARIS, Sept 27 (Reuters) - Dries Van Noten unveiled a layered collection for spring, mixing patterns and sparkles into a line-up of tailored coats and loosely worn dress shirts at Paris Fashion Week on Wednesday. After the show, Van Noten trotted out for his bow, waving at the crowd, who erupted into applause. Paris Fashion Week runs until Oct. 3, featuring some of the world's biggest brands including Hermes, Chanel, Louis Vuitton and Dior. Reporting by Elizabeth Pineau; Writing by Mimosa Spencer; Editing by Alison WilliamsOur Standards: The Thomson Reuters Trust Principles.
Persons: Van Noten, Johanna Geron, strode, Ami Suzuki, Aya Suzuki, Lea Drucker, Puig, Paco Rabanne, Jean Paul Gaultier, Nina Ricci, Carolina Herrera, Charlotte, Hermes, Chanel, Louis Vuitton, Elizabeth Pineau, Mimosa Spencer, Alison Williams Organizations: Paris, REUTERS, Rights, Antwerp, Royal Academy of Fine Arts, Dior, Thomson Locations: Paris, France, Bermuda, Charlotte Tilbury
[1/7] A model presents a creation by designer Maria Grazia Chiuri as part of her Spring/Summer 2024 Women's ready-to-wear collection show for fashion house Dior during Paris Fashion Week in Paris, France, September 26, 2023. "It's a reflection about image, about the narrative and how we build -- in some way -- a stereotype in our mind," Chiuri told Reuters. Chiuri used knitwear techniques to lighten the weight of a pleated skirt, and took on pointy-toed kitten heels, turning them into gladiator shoes, with rows of straps running up the leg, fastened with pearls. The LVMH-owned (LVMH.PA) fashion label's show saw onlookers angle for photos of celebrities, including Blackpink member Jisoo, Charlize Theron, Elle Macpherson and Rosalia. Paris Fashion Week, which runs until Oct. 3, features dozens of labels including Louis Vuitton, Chanel, Hermes and Saint Laurent.
Persons: Maria Grazia Chiuri, Dior, Stephanie Lecocq, baring, Chiuri, Elena Bellantoni, ” Bellantoni, jean, Queen Camilla, King, Jisoo, Charlize Theron, Elle Macpherson, Rosalia, Louis Vuitton, Chanel, Hermes, Saint Laurent, Mimosa Spencer, Alexandra Hudson Organizations: Paris, REUTERS, Rights, Reuters, Alexandra Hudson Our, Thomson Locations: Paris, France, Versailles, King Charles's
[1/5] Models present creations by designer Anthony Vaccarello as part of his Spring/Summer 2024 Women's ready-to-wear collection show for fashion house Saint Laurent during Paris Fashion Week in Paris, France, September 26, 2023. Sunglasses, aviation hats and natural leather belts completed the looks, which came mostly in autumn tones of beige, olive, purple and a rusty brown. The show closed the second day of Paris Fashion Week, which has drawn fashion crowds and celebrity fans to the French capital. The catwalk shows run until Oct. 3, and feature dozens of luxury labels including Hermes, Chanel and Louis Vuitton. Reporting by Mimosa Spencer; Editing by Aurora EllisOur Standards: The Thomson Reuters Trust Principles.
Persons: Anthony Vaccarello, Saint, Johanna Geron, Saint Laurent, Hermes, Chanel, Louis Vuitton, Mimosa Spencer, Aurora Ellis Organizations: Paris, REUTERS, Rights, Paris Fashion, Thomson Locations: Paris, France, Seine
But I was recently persuaded to book a cruise vacation — and I was surprised by how much I enjoyed it. Haley TenoreThe ship had several dining options, including a buffet, a dining room, room service, and a Ben and Jerry's kiosk that also served Starbucks coffee. I wouldn't write off going on another cruise, but I think I prefer planning my own trips. If I'm going to a new city, state, or country, I like to be able to plan where I'm gonna go, how long I'm going to spend there, how much money I will spend, and when I'm going to need downtime. AdvertisementAdvertisementDo you cruise, or work on a cruise ship, and have a story to share?
Persons: I've, Christopher Biggs, CocoCay, Haley Tenore, Ben, , I'm Organizations: Caribbean's, Service, Royal Caribbean's, Royal Caribbean, Admiral Cruises, Royal, New Locations: Bahamas, Baltimore, Nassau, CocoCay, Royal Caribbean, mealtimes
"Gucci is the opportunity to fall in love with fashion, ancora," De Sarno said in a post on Instagram in the run-up to the show, using the Italian word for "again." Debut collections can generate mixed reactions, and even positive press reviews are not always a proxy for their future commercial success. Kering shares closed 1.5% higher after the show. At their current price, Kering shares are trading at the equivalent of around 14 times expected earnings over the next 12 months, according to LSEG data. Reporting by Mimosa Spencer and Elisa Anzolin, editing by Silvia AloisiOur Standards: The Thomson Reuters Trust Principles.
Persons: Sabato De Sarno, Kering, De Sabato, Kenneth Richard, Federico Giglio, Giglio.com, Gucci, De Sarno, De, Antoine Belge, Francois, Henri Pinault, Julia Roberts, Ryan Gosling, Louis, Dior, Alessandro Michele, Marco Bizzarri, Jean, Hermes, Mimosa Spencer, Elisa Anzolin, Silvia Aloisi Organizations: luxe, Reuters, Exane BNP, fashion's, Louis Vuitton, Moncler, Thomson Locations: Milan, Italy, New York, Chengdu, Bangkok, London, Brera
MILAN/PARIS, Sept 19 (Reuters) - Gucci creative director Sabato De Sarno takes to the runway in Milan on Friday, in a high-stakes designer debut for the Italian label’s owner, French luxury group Kering (PRTP.PA). De Sarno’s Gucci catwalk presentation – one of the industry’s most highly-anticipated shows this year – will serve as an aesthetic reset for the brand, aimed at reigniting sales, but it is also the first major test of a sweeping overhaul at Kering. The group has also taken steps to broaden its revenue sources, announcing plans to buy high end perfumer Creed in June and a 30% stake in fashion label Valentino in July. “We don’t think that a margin reset would be badly received by the market,” said Carole Madjo, analyst with Barclays. Reporting by Mimosa Spencer and Elisa Anzolin Editing by Tomasz JanowskiOur Standards: The Thomson Reuters Trust Principles.
Persons: Gucci, Sabato De Sarno, De Sarno’s Gucci, Valentino, Louis, Jean, Francois Palus, Marco Bizzarri, De Sarno’s, Bizzarri, Alessandro Michele, De Sarno's, Sabato De Sarno's, , Carole Madjo, Daria Werbowy, Luca Solca, Bernstein, Mimosa Spencer, Elisa Anzolin, Tomasz Janowski Organizations: MILAN, Louis Vuitton, Dior . Group, Gucci, RBC, Barclays, De, Thomson Locations: PARIS, Milan, Kering
Models present creations by designer Olivier Rousteing as part of his Spring-Summer 2023 ready-to-wear collection show for fashion house Balmain during Paris Fashion Week in Paris, France, September 28, 2022. Balmain is due to present its 2024 spring-summer collection on Sept. 27 during the Paris fashion week, which features high end labels including Louis Vuitton, Dior, Chanel and Hermes. A spokesperson for Balmain confirmed that the Paris show would go ahead, declining to comment about the robbery pending an investigation. Balmain is controlled by Mayhoola, an investment vehicle backed by Qatar's royal family. Reporting by Gus Trompiz and Mimosa Spencer Editing by Tomasz JanowskiOur Standards: The Thomson Reuters Trust Principles.
Persons: Olivier Rousteing, Johanna Geron, Rousteing, Louis Vuitton, Chanel, Hermes, Gus Trompiz, Mimosa, Tomasz Janowski Organizations: Balmain, Paris, REUTERS, Rights, Dior, Thomson Locations: Paris, France, Balmain
PARIS (Reuters) - French fashion house Balmain has lost dozens of pieces due to be unveiled at a Paris show later this month after a lorry carrying the clothing was hijacked, its creative director Olivier Rousteing said. Rousteing said in an Instagram post that thieves seized the vehicle carrying some 50 items from Balmain's new collection between a Paris airport and the label's headquarters in the French capital. Balmain is due to present its 2024 spring-summer collection on Sept. 27 during the Paris fashion week, which features high end labels including Louis Vuitton, Dior, Chanel and Hermes. A spokesperson for Balmain confirmed that the Paris show would go ahead, declining to comment about the robbery pending an investigation. Balmain is controlled by Mayhoola, an investment vehicle backed by Qatar's royal family.
Persons: Olivier Rousteing, Rousteing, Louis Vuitton, Chanel, Hermes, Gus Trompiz, Mimosa Spencer, Tomasz Janowski Organizations: PARIS, Balmain, Dior Locations: Paris, Balmain
I didn't want to have to sacrifice to the point of deprivation to live my ideal life. Then I learned about Slow FIRE — living your ideal life now while saving to reach your FIRE number. The idea that if you understood your numbers, you could aggressively invest, save, and reach retirement over a short period of time and begin living your best life when you hit your ideal retirement number. In retrospect, I'm surprised I felt so strongly about the FIRE movement, because nothing about my financial life would indicate that FIRE would ever be right for me. You don't have to be an entrepreneur to design your best life now.
Persons: I'm, weren't, hasn't, Read, It's, COVID, I've, doesn't, Get Organizations: Service, FIRE Locations: Wall, Silicon, Colorado
[1/2] Cars are shown lined up at the valet parking area outside the Creative Artists Agency building in Los Angeles, California, September 24, 2012. REUTERS/Jonathan Alcorn Acquire Licensing RightsPARIS, Sept 7 (Reuters) - French luxury goods billionaire Francois-Henri Pinault has reached an agreement for a majority stake in Creative Artists Agency (CAA), adding Hollywood's premiere talent agency to his family empire which spans fashion, wine and contemporary art, parties involved said on Tuesday. The presence of stars like Beyonce, Zendaya and Rihanna have become key to drawing the spotlight to fashion shows, and Kering's larger rival LVMH(LVMH.PA) recruited Pharrell Williams to head menswear designs for Louis Vuitton. TPG first invested in CAA in 2010 and, in 2014, increased its stake to 53% in a deal valuing the agency at $1.1 billion. Global investment firm Temasek will remain a minority investor in the agency while CMC Capital will remain a "strategic partner", according to a statement.
Persons: Jonathan Alcorn, Francois, Henri Pinault, Pinault, Gucci, Beyonce, Zendaya, Rihanna, Pharrell Williams, Louis Vuitton, Pinault's, Salma Hayek, Valentino, perfumer, Bryan Lourd, Kevin Huvane, Richard Lovett, Lourd, Sudip Kar, Mimosa Spencer, Dawn Chmielewski, Jonathan Oatis, Tomasz Janowski, Timothy Gardner Organizations: Creative Artists Agency, REUTERS, Rights, CAA, Artemis, TPG, Global, CMC Capital, Thomson Locations: Los Angeles , California, Los Angeles, Hollywood, Temasek, Paris
[1/2] Employees work on a the access stairs to an underground urban cooling network power station developed by Fraicheur de Paris, using water from the Seine river to generate air conditioning used by an increasing number of buildings and public spaces, in Paris, France, August 24, 2023. Acquire Licensing Rights Read moreCompanies Engie SA FollowPARIS, Sept 4 (Reuters) - The city of Paris plans to expand an urban cooling system that draws on water from the Seine river as it seeks to meet rising demand for air conditioning while curbing carbon emissions, its secretary general Raphaelle Nayral said. Europe's largest cooling network serves sites across the city, including buildings that will be used for the Paris Olympics next summer, like the Grand Palais, a sprawling glass and steel exhibit hall in central Paris. Ghislain Tezenas Du Montcel, owner of an office building that uses the underground cooling system, said the new system was more sustainable, and also beneficial financially. "Given the fact that the price of electricity has increased, we think (air conditioning via this network) is now cheaper," said Tezenas du Montcel.
Persons: Fraicheur de, Raphaelle Nayral, Nayral, Paris Fraicheur, Ghislain, Du Montcel, Antonia Cimini, Mimosa Spencer, Peter Graff Organizations: PARIS, Paris Olympics, Paris, Thomson Locations: Fraicheur de Paris, Paris, France, Europe
France to ban disposable e-cigarettes, PM says
  + stars: | 2023-09-03 | by ( ) www.reuters.com   time to read: +1 min
French Prime Minister Elisabeth Borne speaks during the MEDEF union summer forum "La Rencontre des Entrepreneurs de France, LaREF" at the Paris Longchamp Racecourse in Paris, France, August 28, 2023. REUTERS/Benoit Tessier/File Photo Acquire Licensing RightsPARIS, Sept 3 (Reuters) - France plans to ban disposable electronic cigarettes, French Prime Minister Elisabeth Borne said on radio station RTL on Sunday. So-called "puff" devices generate habits among young people that can lead to tobacco addiction, she added. However, the government does not plan to raise taxes on tobacco next year after an increase this year, the prime minister said. Reporting by Claude Chendjou Writing by Mimosa Spencer Editing by David GoodmanOur Standards: The Thomson Reuters Trust Principles.
Persons: Elisabeth Borne, Benoit Tessier, , , Borne, Emmanuel Macron, Claude Chendjou, Mimosa Spencer, David Goodman Organizations: French, Entrepreneurs de France, Paris, Paris Longchamp Racecourse, REUTERS, Rights, RTL, Thomson Locations: Paris Longchamp, Paris, France
BREAKING VASES IS an occupational hazard for florists, but for Wagner Kreusch it’s also a source of inspiration. The Brazilian-born, London-based botanical artist collects ceramics from makers around the world and when one of them accidentally slips through his fingers, he saves the fragments, reconfiguring the shards on the floor of his studio to look like the vessel has just toppled over, and arranges flowers (he prefers wild flora such as amaranth and mimosa) amid the chaos. Most recently, Kreusch, a certified ikebana instructor, transplanted a cluster of foraged roadside marigolds, root systems intact, and placed them amid a half-smashed terra-cotta garden pot he found at a market in Porto, Portugal. “They looked like they broke the vase to free themselves,” he says of the unruly cluster of yellow blooms. The gravitational pull is both literal and metaphorical; by building on the floor, they’re at once returning flowers to the earth (if only symbolically) and repositioning a flower arrangement’s hierarchy in a given room — these are designs that demand space, that shift the balance of focus from the mantel or dining room table, that make life a little inconvenient for the occupants.
Persons: Wagner Kreusch it’s, , , you’re Locations: Brazilian, London, Porto, Portugal, they’re
Aug 2 (Reuters) - From consumer goods giant Unilever (ULVR.L) to automaker Nissan (7201.T) and machinery maker Caterpillar (CAT.N), global firms have warned of slowing earnings in China as the world's second-largest economy loses its post-pandemic bounce. A continued rebound has been limited to a handful of sectors such as dining and luxury goods, driving double-digit China sales growth for the likes of Starbucks (SBUX.O) and LVMH (LVMH.PA). Volkswagen (VOWG_p.DE) cut its full-year sales target last week due to a sales dip in China, its top market. "Unfortunately, our (China) sales outlook is now falling far below our production capacity," Nissan CEO Makoto Uchida said last week. "We mentioned during our last earnings call that we expected sales in China to be below the typical 5% to 10% of our enterprise sales.
Persons: Graeme Pitkethly, we're, Makoto Uchida, Jim Umpleby, Jacob Stausholm, Louis Vuitton, Tiffany, Jean, Jacques Guiony, Mimosa Spencer, Sophie Yu, Brenda Goh, Richa Naidu, Melanie Burton, Daniel Leussink, Victoria Waldersee, Miranda Murray, Rishav Chatterjee, Deborah Sophia, Ananya Mariam Rajesh, Yuvraj Malik, Miyoung Kim, Christopher Cushing Organizations: Unilever, Nissan, Caterpillar, Starbucks, Procter, Gamble, L'Oreal, Global, Volkswagen, Samsung, SK Hynix, Apple, Rio Tinto, Tinto, Yum, HK, KFC, Kailyn, Thomson Locations: China, KS, Rio, Yum China, Kailyn Rhone, New York, Paris, Beijing, Shanghai, London, Melbourne, Tokyo, Victoria, Berlin, Bengaluru
Hermes defies luxury slowdown with strong sales
  + stars: | 2023-07-28 | by ( Mimosa Spencer | ) www.reuters.com   time to read: +2 min
Hermes' results come as luxury stocks have come under pressure due to uncertainty over the pace of China's post-pandemic recovery, while a months-long spending frenzy in the U.S. market cools amid rising inflation. "We've seen no interruption in (growth) trends," Hermes Executive Chairman Axel Dumas told journalists. "Strong print across the board," said Exane BNP Paribas, citing fast sales growth and consensus-beating margins. Analysts said the results showed the strength of Hermes' business model, which entails careful management of production and stocks. Hermes shares traded up 3.3% in early morning trading, while rival Kering was up 1% and LVMH was down 0.5%.
Persons: Veronique Nichanian, Gonzalo Fuentes, Birkin, Hermes, Richemont, We've, Axel Dumas, Dumas, Bernstein, Kering, LVMH, Mimosa Spencer, Silvia Aloisi, Sharon Singleton Organizations: REUTERS, BNP, Thomson Locations: Paris, France, U.S, China
Kering takes 30% stake in Italian luxury brand Valentino
  + stars: | 2023-07-27 | by ( ) www.reuters.com   time to read: +1 min
PARIS, July 27 (Reuters) - French luxury group Kering, which is struggling to revive sales at its star brand Gucci, said on Thursday it was buying a 30% stake in Italian fashion label Valentino from Qatari investment fund Mayhoola for 1.7 billion euros ($1.87 billion) in cash. The agreement includes an option for Kering to purchase the whole of Valentino's share capital no later than 2028. "The transaction is part of a broader strategic partnership between Kering and Mayhoola, which could lead to Mayhoola becoming a shareholder in Kering," Kering said in a statement. Kering will have board representation at the Italian brand, the French group said. Mayhoola, which bought Valentino in 2012, "will remain the majority shareholder with 70% of the share capital and will continue to execute on the successful brand elevation strategy."
Persons: Gucci, Valentino, Kering, Mimosa Spencer, Silvia Aloisi Organizations: Thomson Locations: Kering
PARIS, July 25 (Reuters) - Sales at the world's top luxury group LVMH (LVMH.PA) rose by 17% in the second quarter, with a sharp rebound in China helping to offset a decline in the United States, where inflation and economic turbulence have dented demand for high-end goods. The 17% increase at constant exchange rates was a touch better than analyst expectations for 16% growth, according to a Visible Alpha consensus. Finance chief Jean-Jacques Guiony told reporters he was "very satisfied" with the rebound in China, which makes up the bulk of Asian sales. The region - excluding Japan - posted 34% growth compared to last year, when strict COVID-19 restrictions hit sales and emptied stores in China. In the United States, we see it's not as good as it was," he added.
Persons: Louis Vuitton, Hennessy, Tiffany, Jean, Jacques Guiony, Cartier, Richemont, Guiony, Mimosa Spencer, Silvia Aloisi Organizations: Dior, Finance, Vuitton, Thomson Locations: China, United States, Japan
LVMH strikes Paris Olympic Games sponsorship deal
  + stars: | 2023-07-24 | by ( ) www.reuters.com   time to read: +2 min
PARIS, July 24 (Reuters) - Luxury giant LVMH (LVMH.PA) unveiled on Monday a deal to sponsor next year's Olympic Games in Paris with top fashion brands Louis Vuitton and Dior, Moet Hennessy champagne and spirits labels and jeweller Chaumet, which will design medals for the event. The group will also sponsor athletes, including French swimmer Leon Marchand, and its beauty retailer Sephora will sponsor the Olympic torch relay, LVMH said. Terms of the deal, which was negotiated by Antoine Arnault, one of the five children and heirs of LVMH Chairman and CEO Bernard Arnault, were not revealed. "The Games are an opportunity to make France shine," Antoine Arnault said as he made the official announcement. The run-up to an Olympic Games can become mired in global geo-politics and controversies over domestic matters can attract scrutiny, such as China's rights record ahead of the Beijing Games.
Persons: Louis Vuitton, Dior, Moet Hennessy, Chaumet, Leon Marchand, LVMH, Antoine Arnault, Bernard Arnault, Mimosa Spencer, Silvia Aloisi, Tomasz Janowski, Richard Lough Organizations: Louis, Olympic, Beijing Games, HK, Toyota, Thomson Locations: Paris, France, Belarus
July 20 (Reuters) - China's frail growth could weigh on companies with exposure to the world's second-largest economy, including Apple (AAPL.O), big chipmakers and luxury retailers as they report quarterly results in the next few weeks. China accounted for 36% of NXP's revenue last year and half of Texas Instruments' revenue. Analysts estimate NXP reporting a 3.2% drop in quarterly revenue, with Texas Instruments' revenue tumbling 16%, which would be its steepest drop since 2009, according to Refinitiv. The specialty glass maker blamed "anticipated recession-level demand" for weak results in its previous quarterly report last April. Coffee maker Starbucks (SBUX.O) in May reported quarterly results that beat estimates, powered by recovering demand in China.
Persons: Ross Mayfield, Baird, Cartier, Richemont, Bernstein, Tesla, Jonathan Golub, hobble, David Klink, Noel Randewich, Chavi Mehta, Caroline Valetkovitch, Mimosa Spencer, David Gaffen, Nick Zieminski Organizations: Apple, U.S, Shanghai, ABB, HK, NXP Semiconductors, Texas, Texas Instruments, . Credit Suisse Chief, Equity, Corning Inc, Samsung Electronics, Huntington Private Bank, Reuters, Thomson Locations: China, U.S, Swiss, Asia, ., China . U.S, Washington, Beijing, Oakland , California, Bangalore, New York, Paris
"The luxury industry seems to be outperforming the consumer market as a whole in China, but you know, really, almost everyone you speak to, there's a level of uncertainty," said Agility's managing director Amrita Banta. "There's a level of not feeling entirely comfortable with their future economic position that is really affecting almost everybody in China." Those factors disproportionately affect "aspirational" luxury customers who can easily live without another Gucci bag or $900 pair of sneakers. In China, luxury consumers are younger than in the rest of the world with an average age of 28, according to BCG - something companies had seen as positive for future growth. "In the trends that I'm seeing in the U.S. and also in China, more aspirational younger consumers are feeling more of a pain," Morningstar senior equity analyst Jelena Sokolova said.
Persons: Richemont, splurge, Morgan Stanley, Hermes, Chanel, Amrita Banta, Dior, Balenciaga, Gucci, Jelena Sokolova, HSBC's Erwan, Rambourg, Casey Hall, Mimosa Spencer, Catherine Evans Organizations: Cartier, Citigroup, Richemont, Citi, LVMH, Bain, Morningstar, Thomson Locations: SHANGHAI, PARIS, China, North America, Wuhan, Zhengzhou, Charlotte, Nashville, Swiss, Americas, Asia, United States, luxury's, U.S, Japan
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