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[1/2] A man looks at a window display outside a Gucci store, part of the Kering group, at Tsim Sha Tsui shopping district in Hong Kong January 17, 2013. But while Gucci, which accounts for the bulk of profits and revenues at Kering, was the only brand to post a fall in sales, analysts said other labels too posted lower-than-forecast results. Kering said sales fell by 15% in North America in the fourth quarter and by 19% in Asia Pacific. But the situation has been more complicated for Kering, since Gucci relies more heavily on China than competitors. LVMH's fashion and leather goods division, home to Louis Vuitton and Dior, grew sales by 10% over the fourth quarter.

☆ Pharrell Williams was just named the new creative director of Louis Vuitton's menswear division
▼ + stars: | 2023-02-14 | by ( Lakshmi Varanasi | ) www.businessinsider.com time to read: +3 min

Louis Vuitton tapped musician and entrepreneur Pharrell Williams as its next "Men's Creative Director." On Tuesday, he added "Men's Creative Director" of Louis Vuitton to that list, according to an announcement on LVMH's site. When Louis Vuitton named Virgil Abloh its artistic director for menswear in 2018, he became the first black American to lead a European luxury fashion house. "I am glad to welcome Pharrell back home, after our collaborations in 2004 and 2008 for Louis Vuitton, as our new Men's Creative Director. Analysts say that at $20 billion, Louis Vuitton is the biggest luxury brand in the world, according to The Wall Street Journal.

☆ The $400 Tiffany & Co. and Nike sneaker collab is just the beginning — the brands are also hawking silver accessories like shoe horns totaling over $1000
▼ + stars: | 2023-02-02 | by ( Danni Santana | ) www.businessinsider.com time to read: +3 min

Nike and Tiffany & Co. are releasing their first sneaker collaboration next month for $400. Accessories are a sterling silver shoe horn, sneaker toothbrush, deubré, and a referee whistle. But the sneaker, dubbed the Nike Air Force 1 Low Tiffany & Co. "1837," is just the beginning. But in classic Tiffany's style, the luxury jeweler is selling a sterling silver shoe horn, sneaker toothbrush, deubré, and a whistle as part of the release. The brand also sells sterling silver photo frames, bowls, and pens, among other items.

☆ The Arnaults are betting big on K-Pop, and it shows the power of South Korea's luxury spending machine
▼ + stars: | 2023-01-31 | by ( Cheryl Teh | ) www.businessinsider.com time to read: +6 min

Experts tell Insider this is a calculated move to tap into the booming South Korean market. A targeted move to win over the South Korean marketBTS member Jimin (left) and BLACKPINK singer Rosé. "Fashion trends tend to be created and adopted in South Korea, before being diffused to other markets in Asia," Dubois said. She also said South Korea is "increasingly known" for its K-Pop stars, movies, and shows in the US — which helps with promotions stateside too. Once the COVID situation settles, it is possible that Chinese tourists, with their spending power, return to Korea," Kim said.

☆ Europe's luxury stocks have room to rise, but becoming costly
▼ + stars: | 2023-01-31 | by ( Lucy Raitano | ) www.reuters.com time to read: +5 min

REUTERS/Sarah Meyssonnier/FilesLONDON, Jan 31 (Reuters) - Europe's glittering luxury companies, the region's top stock-market performers in 2023, may see yet more gains driven by a rebound in Chinese spending, but for some the sector is starting to look expensive. An index of European luxury goods retailers (.dMIEU0TA00PUS) has rallied around 18% so far this year, outperforming the wider pan-European STOXX 600 (.STOXX), which is up 6.2% in the same time frame. But the fact that luxury goods companies are not as cheap as they once were is a "concern/point of attention", said Kasper Elmgreen, Head of Equities at Amundi, Europe's largest asset manager. Jelena Sokolova, senior equity analyst at Morningstar, said that China reopening is the key issue for European luxury stocks this year, and is already at least 50% priced in. These shares have more room to run higher as Chinese consumers hit the shops again and luxury companies flex their pricing power.

☆ Gucci's challenge: reigniting heat while boosting timeless appeal
▼ + stars: | 2023-01-30 | by ( Mimosa Spencer | ) www.reuters.com time to read: +4 min

PARIS, Jan 30 (Reuters) - Sabato De Sarno, newly appointed by Kering (PRTP.PA) to reinvigorate its prized Gucci brand, needs to spark heat with a new direction, analysts say - a delicate task, given the emphasis executives have also put on the label's timeless appeal. De Sarno, a senior fashion designer from Valentino, is tasked as creative director with reviving the fortunes of the brand that accounted for two-thirds of Kering's profits in 2021. Analysts welcomed Kering's choice of a seasoned but relatively unknown designer, noting that previous creative director Michele did not have a public profile when he was appointed in 2002. His experience at Valentino suggests a "less eccentric aesthetic" than Gucci's previous designer, noted Carole Madjo of Barclays. The designer rose through Valentino's ranks after his arrival in 2009 to become fashion director overseeing both the men's and women's collections, working closely with chief designer Pierpaolo Piccioli.

PARIS, Jan 28 (Reuters) - French luxury goods group Kering (PRTP.PA) has appointed Sabato De Sarno, a senior fashion designer at Valentino, as creative director of its top brand Gucci, it said on Saturday. "I am touched and excited to contribute my creative vision for the brand.”He will present his debut Gucci runway collection at Milan Women's Fashion Week in September 2023. Gucci CEO Marco Bizzarri said that having worked with a number of Italy's most renowned luxury fashion houses, De Sarno "brings with him a vast and relevant experience." "Gucci - and the Kering shareholders - need courage and an original point of view." "The eyes of the world will be on him to see if he also has the required creative genius."

☆ Kering appoints De Sarno as Gucci creative director
▼ + stars: | 2023-01-28 | by ( ) www.reuters.com time to read: +2 min

[1/2] A Gucci sign is seen outside a shop in Paris, France, January 27, 2023. REUTERS/Sarah Meyssonnier/FilesPARIS, Jan 28 (Reuters) - French luxury giant Kering (PRTP.PA) has appointed Sabato De Sarno, a senior fashion designer at Valentino, as creative director of its top brand Gucci, it said on Saturday. I am touched and excited to contribute my creative vision for the brand,” De Sarno said in Kering's statement. He will present his debut Gucci runway collection at Milan Women's Fashion Week in September 2023. Former creative director Alessandro Michele, known for his flamboyant and gender-fluid styles, left Gucci abruptly in November after seven years in the job, following tensions between with Kering's top management, sources told Reuters.

☆ H&M highlights fast-fashion gloom as luxury takes hit in China
▼ + stars: | 2023-01-27 | by ( ) www.reuters.com time to read: +4 min

Shares in H&M, the world's No. 2 fashion retailer, fell as much as 6% in early trade after quarterly operating profit sank to 821 million Swedish crowns ($79.7 million) from 6.26 billion a year earlier. Zara has outperformed rivals after selling higher-priced garments and enticing shoppers who might have otherwise spent money at luxury stores. Disappointment over the impact of the China disruptions on its margins caused a record-breaking run in LVMH shares to briefly halt on Friday. The luxury industry is nevertheless expected to be one of the biggest winners from the loosening of restrictions that kept shoppers out of stores in China for months.

☆ LVMH shares lose recent lustre as China takes margin toll
▼ + stars: | 2023-01-27 | by ( ) www.reuters.com time to read: +1 min

PARIS, Jan 27 (Reuters) - LVMH (LVMH.PA) shares, which hit a record high earlier this month, fell on Friday as some analysts aired disappointment at the company's margins, taking some of the shine off a fourth-quarter sales rise. However, some analysts focused on its flat margins. "The slight wrinkle is on the margin, where the group delivered a flat operating margin year-on-year (versus consensus of +90 bps) – largely a reflection of maintaining/raising H2 marketing spend despite disrupted revenue growth," Credit Suisse analysts wrote in a note. The division's profit from recurring operations came to 660 million euros for the year, a fall of 3%. Reporting by Mimosa Spencer; Editing by Silvia Aloisi, Benoit Van Overstraeten and Alexander SmithOur Standards: The Thomson Reuters Trust Principles.

☆ LVMH's Arnault brushes off succession question
▼ + stars: | 2023-01-26 | by ( ) www.reuters.com time to read: 1 min

PARIS, Jan 26 (Reuters) - Bernard Arnault, the boss of luxury giant LVMH (LVMH.PA) and the world's richest man, brushed away questions about his succession with a joke on Thursday. The 73-year old earlier this month reshuffled top management at his luxury goods empire, tightening his family's grip with the appointment of his daughter Delphine to lead Christian Dior, and naming a new boss for Louis Vuitton. Asked by an analyst about succession plans at a post-results conference where his children featured prominently in the front row, Arnault said: "You will have noticed that the retirement age is being raised." France is in the middle of a pension reform that would increase the age for retiring to 64 from 62 currently, and is being fiercely opposed by unions. Reporting by Mimosa Spencer and Silvia AloisiOur Standards: The Thomson Reuters Trust Principles.

☆ Luxury group LVMH's sales defy downturn as shoppers splurge
▼ + stars: | 2023-01-26 | by ( Mimosa Spencer | ) www.reuters.com time to read: +3 min

REUTERS/Marco BelloPARIS, Jan 26 (Reuters) - Luxury goods group LVMH's (LVMH.PA) sales rose 9% in the fourth quarter as shoppers in Europe and the United States splurged over the crucial holiday season, helping partly to offset COVID disruptions in China. Sales at the world's biggest luxury group reached 22.7 billion euros ($24.65 billion) in the final three months of the year, with the 9% increase on an organic basis a touch above analyst expectations for 7% growth, based on a consensus cited by UBS. LVMH has gained market share every year since 2019, its boss Bernard Arnault, the world's richest man, said. The group proposed a dividend of 12 euros per share, up from 10 euros a year ago. LVMH's shares have hit new highs this month, giving the luxury goods group a market capitalisation of 400 billion euros for the first time and cementing its lead as Europe's most valuable company.

☆ Luxury retailer LVMH is optimistic as it sees Chinese shoppers and tourists returning
▼ + stars: | 2023-01-26 | by ( Robert Frank | ) www.cnbc.com time to read: +3 min

Luxury giant LVMH said China's wealthy consumers have started returning to stores after the country's reopening and it remains optimistic about the year ahead. "We have every reason to be confident, indeed optimistic on China," LVMH CEO Bernard Arnault said during the company's earnings presentation. Bain & Co estimates that global luxury sales grew 22% in 2022, to over $380 billion, with the U.S. replacing China as the top market. Even if China rebounds, growth in luxury sales is likely to be slower this year. Bain estimates global sales could grow between 3% and 8% in 2023, depending on China's reopening and the U.S.

But retailers in popular Asian destinations are desperate to take advantage of the return of a first wave of Chinese tourists as the country reopens borders after three long years of COVID-19 curbs. And robust demand for destinations like Macau, Hong Kong, Taiwan and Thailand has boosted prospects for the battered travel industry, Ctrip booking data shows. Still, destinations elsewhere show that the return of Chinese tourists remains at a very early stage. Fresh COVID testing requirements for Chinese tourists in some locations may be acting as a barrier, while some countries also require visas that take time to process. Retailers in South Korea are also not seeing a huge influx in Chinese tourists yet, citing the suspension of short-term visas for travellers between both countries.

☆ 2023 is set to be tough — but this 'exceptional' stock is rock solid, fund manager says
▼ + stars: | 2023-01-19 | by ( Weizhen Tan | ) www.cnbc.com time to read: +2 min

Masters highlighted a core stock in his portfolio that he described as having "quite exceptional performance": luxury powerhouse LVMH . "LVMH — very, very powerful business, very strong house of brands, the performance has been quite exceptional. LVMH owns companies ranging from luxury brands Louis Vuitton and Givenchy, to cosmetics names such as Fenty Beauty by Rihanna. "What we have seen post Covid is a real bifurcation between consumers, and this has flowed through to stronger performance among luxury brands. "Today, the performance of their business and the execution has been rock solid.

PARIS/MILAN, Jan 13 (Reuters) - Gucci kicked off Milan fashion week on Friday with a lineup of slouchy, androgynous menswear styles, forging ahead with its latest collection while the industry waits for owner Kering (PRTP.PA) to name a new designer for the label. The question of who will steer Gucci's creative direction loomed over the megabrand's first men's show in the Italian fashion capital in three years. Events run through Jan. 17, drawing an audience that includes major retail buyers sizing up which styles might be future top sellers. Gucci held back on marketing investments during the pandemic, while larger rival LVMH's two biggest labels Louis Vuitton and Dior pushed ahead, a move that analysts say helped them gain ground on rivals. Despite the current turbulence at Kering, however, expectations are high given the group's strong track record nurturing brands, analysts say.

☆ The world's richest person has made his daughter the CEO of Dior. All 4 of his sons have top roles at his companies, too.
▼ + stars: | 2023-01-12 | by ( Grace Dean | ) www.businessinsider.com time to read: +1 min

Luxury-goods mogul Bernard Arnault is the world's richest personEric Piermont/Getty ImagesBernard Arnault is the world's richest person with a net worth of about $182 billion, putting him $50 billion ahead of Elon Musk. Arnault cofounded LVMH in the 1980s, and is its CEO and chair. All four of Bernard's sons work at LVMH and its brands, too. "Succession planning in strategic roles has been instrumental to the success of LVMH's key brands over the past 20 years," Citi analyst Thomas Chauvet said, per Reuters. Last year LVMH raised the age limit of its CEO from 75 to 80, extending Arnault's possible tenure.

☆ LVMH names new Louis Vuitton CEO, puts Arnault daughter in charge of Dior
▼ + stars: | 2023-01-11 | by ( Mimosa Spencer | ) www.reuters.com time to read: +5 min

Pietro Beccari, who has been the head of Dior since 2018, is moving to replace long-time Louis Vuitton CEO Michael Burke, 65. Delphine Arnault, 47, has worked at Louis Vuitton for the past decade alongside Burke and previously spent a dozen years at Dior. [1/2] Bernard Arnault, CEO of LVMH Moet Hennessy Louis Vuitton SE, and Delphine Arnault, Executive Vice President of Louis Vuitton, leave after the Spring/Summer 2020 collection show for fashion house Louis Vuitton during Men's Fashion Week in Paris, France, June 20, 2019. Alexandre Arnault, 30, is in charge of products and communication at Tiffany, while Frederic Arnault, 28, is CEO of another group brand, TAG Heuer. The youngest child, Jean Arnault, 24, heads marketing and product development for Louis Vuitton's watches division.

☆ LVMH's Arnault tightens family grip as daughter becomes Dior CEO
▼ + stars: | 2023-01-11 | by ( Mimosa Spencer | ) www.reuters.com time to read: +2 min

The world's largest luxury group also replaced long-time Louis Vuitton CEO Michael Burke with Pietro Beccari, head of Dior since 2018. Delphine Arnault, 47, has worked at Louis Vuitton for the past decade alongside Burke and previously spent a dozen years at Dior. Burke will continue to work with Bernard Arnault, the company said in a statement. The move follows the recent appointment of Antoine Arnault, Bernard Arnault's eldest son, to head the family holding company, replacing veteran executive Sidney Toledano. Alexandre Arnault, 30, is an executive at Tiffany & Co. while Frederic Arnault, 28, is CEO of TAG Heuer - both LVMH brands.

☆ LVMH CEO Bernard Arnault: World's richest person admires Buffett, Jobs
▼ + stars: | 2023-01-05 | by ( Tom Huddleston Jr. | ) www.cnbc.com time to read: +3 min

That would be France's Bernard Arnault, the 73-year-old co-founder and CEO of LVMH, the luxury goods conglomerate known for operating iconic brands like Louis Vuitton, Tiffany and Christian Dior. He still holds a 97.5% stake in the iconic French luxury fashion house. How did he become the world's wealthiest person? Amid global market turmoil, Arnault's wealth has held fairly steady in recent months. The vast majority of Arnault's wealth is tied to LVMH's stock, and since 2020, the company's stock price has grown by nearly 65% overall.

☆ As travel resumes, China's luxury shoppers ask: Paris or Hainan?
▼ + stars: | 2023-01-05 | by ( Casey Hall | ) www.reuters.com time to read: +5 min

"When I would go to Paris, I couldn't ask the Paris sales people to keep a bag for me, but now here we can," she said. Under pandemic travel curbs, China's domestic luxury sales boomed, doubling to 471 billion yuan ($68.25 billion) from 2019 to 2021, according to Bain & Co. Even so, Chinese consumers' share of the global market fell to 21% in 2021 from 25% in 2019. "It will be interesting to see how new luxury consumers will perceive the difference between domestic and overseas luxury shopping," he said. ALTERNATIVESInternational travel restrictions and local policies to spur spending also drove many consumers to China's tax-free island of Hainan as a luxury shopping destination.

☆ Elon Musk, Jeff Bezos, and the 6 other richest Americans have suffered a nearly $400 billion wealth wipeout this year
▼ + stars: | 2022-12-28 | by ( Theron Mohamed | ) www.businessinsider.com time to read: +4 min

The eight richest Americans have seen close to $400 billion erased from their fortunes this year. Elon Musk's net worth has shrunk by $140 billion, while Jeff Bezos' wealth has slid by $86 billion. Meanwhile, Amazon founder Jeff Bezos' wealth has fallen by $86 billion, while Alphabet cofounders Larry Page and Sergey Brin have seen their fortunes shrink by a combined $91 billion. The upshot is that the eight richest Americans have seen an estimated $386 billion erased from their combined fortunes. That figure rivals JPMorgan's market capitalization, and comfortably exceeds the market value of Tesla ($345 billion), Nvidia ($352 billion), and all but a handful of America's biggest companies.

News of the loosening lifted stock markets worldwide, with luxury shares in particular benefiting. Shares in LVMH (LVMH.PA), the world's biggest luxury group and Europe's number 1 company by market capitalisation, were up 2.7% while Cartier-owner Richemont (CFR.S) rose almost 4%. Before the current slowdown, it had for years been the fastest growing region, with young, urban, middle class professionals powering the luxury market by splashing out on Hermes' 10,000 euro-plus ($10,633) Birkin handbags and Gucci's 1,000 euro fur-lined loafers. According to a recent report by the McKinsey consultancy, while non-luxury fashion sales are expected to rise between 2% and 7% in 2023, luxury sales should climb 9% to 14% over the same period. ($1 = 0.9405 euros)Reporting by Silvia Aloisi; Editing by Louise Heavens Editing by Robert BirselOur Standards: The Thomson Reuters Trust Principles.

☆ Elon Musk briefly loses title as world's richest person to LVMH's Arnault - Forbes
▼ + stars: | 2022-12-07 | by ( ) www.reuters.com time to read: +1 min

Bernard Arnault, the chief executive of luxury brand Louis Vuitton's parent company LVMH (LVMH.PA), and his family briefly took the title as the world's richest, but were back at No. Musk, who has held the top spot on the Forbes list since September 2021, has a net worth of $185.7 billion. Musk took over the title from Amazon.com (AMZN.O) founder Jeff Bezos. Tesla has lost nearly half its market value and Musk's net worth has dropped by about $70 billion since he bid for Twitter in April. Musk closed the deal for Twitter in October with $13 billion in loans and a $33.5 billion equity commitment.

☆ Elon Musk loses title of world's richest man to LVMH's Arnault - Forbes
▼ + stars: | 2022-12-07 | by ( ) www.reuters.com time to read: 1 min

Dec 7 - Twitter owner and Tesla Inc (TSLA.O) boss Elon Musk lost his title as the world's richest person on Wednesday, according to Forbes, following his expensive bets to buy the social media firm and selling stocks of his electric-car company to fund the $44 billion deal. Bernard Arnault, the chief executive of luxury brand Louis Vuitton's parent company LVMH (LVMH.PA), and his family took the title with a personal wealth of $185.4 billion, according to Forbes. Musk, who has had held the top spot on the Forbes list for world's richest since September 2021, has a net worth of $185.3 billion. Tesla's shares fell about 4%. Reporting by Akriti Sharma and Chavi Mehta in Bengaluru; Editing by Shounak DasguptaOur Standards: The Thomson Reuters Trust Principles.

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