Representative image Investors in French luxury group LVMH are eager for signs that China’s new fiscal stimulus measures can finally pull wealthy and middle-class Chinese shoppers out of their funk, inspiring them to splash out on $4,300 designer leather handbags ahead of Singles Day, China’s largest annual shopping spree. Global luxury bellwether LVMH, whose portfolio…
Representative image French luxury goods company Kering has named Stefano Cantino as CEO of its star label Gucci, firming up management of the Italian fashion house it has been seeking to revive, and adding he would succeed Jean-Francois Palus in January. “I am confident that, building on what has been set up over the past…
Representative image The Japanese owner of casual wear giant Uniqlo is projected to beat its own forecast in what would be a third straight year of record profits as its brand makes inroads in western markets and its business in China recovers. Fast Retailing‘s operating profit in the 12 months through August likely rose 24%…
Representative image New Delhi: Salman Khan‘s apparel brand, Being Human Clothing has launched its second store in the UAE at City Centre Sharjah, the company said in a media release. The second store comes after the successful launch of the brand’s flagship store in City Centre Deira, Dubai. “We are delighted to open our second…
Representative Image The Biden administration said on Friday it was moving to curb low-value shipments entering the U.S. duty-free under the $800 “de minimis” threshold that has been exploited by Chinese e-commerce firms such as Shein and PDD Holdings’ Temu. White House officials said they will propose a new rule to deny the exemption to…
Representative Image Two leaders of the U.S. Consumer Products Safety Commission are calling for the agency to investigate e-commerce retailers Shein and Temu after “deadly baby and toddler products” were sold on both websites, according to a letter posted on the agency’s website on Tuesday. CPSC Commissioners Peter Feldman and Douglas Dziak want the agency…
Dolce & Gabbana Holding posted a wider operating loss of 13 million euros ($14.4 million) in the fiscal year through March after stepping up investments in its shop network and its beauty division which it brought in house, a filing showed. The operating loss was 1 million euros in the previous fiscal year, according to…
Representative Image Lululemon Athletica cut its annual sales and profit forecasts on Thursday, as demand for its pricey leggings and tank tops slowed in North America amid selective consumer spending. Its shares swung between heavy losses and gains to settle 5% higher after the bell as the athleisure wear maker’s profit beat estimates and it…
Representative Image Gap on Thursday surpassed Wall Street expectations for the second quarter, as a surprise early announcement of its results showed shoppers turned to its Old Navy and namesake brands to snap up trendy and fashionable clothing. Shares of Gap closed up nearly 2% at $22.8. The stock was halted during the day following…
Representative Image Chanel has bought a 25% stake in high-end Swiss watchmaker MB&F, known for its quirky watch designs, the French luxury house said on Thursday, adding it was part of strategy to increase its presence in watch-making. MB&F has built a reputation as a maker of small series of watches inspired by retro futuristic…
