Representative image The wealth of France’s luxury and cosmetics titans swelled to unprecedented heights during the pandemic era, when consumers snapped up pricey handbags, gowns and grooming products. Now, three of the country’s biggest billionaires – Bernard Arnault, Francoise Bettencourt Meyers and Francois Pinault – are seeing their fortunes dwindle as restraint replaces indulgence. The…
Representative image Shares in Gucci-owner Kering rose on Thursday, shrugging off the French luxury goods company’s warning that 2024 operating income would almost halve to its lowest in years due to weak demand in China. Kering shares were up 0.5% at 0729 GMT, after positive results from rival Hermes helped lift the broader luxury sector….
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…
French luxury group Kering expects a 40% to 45% plunge in first-half operating profit, it said on Tuesday, after first-quarter sales declined as wealthy shoppers curbed spending on products from its star label Gucci. Sales for the three months ending in March were down 10% on a comparable basis at 4.5 billion euros ($4.8 billion)….
Representative image India matters, and all over the world, luxury brands are looking at India, says Bénédicte Epinay, CEO of Comité Colbert, the official luxury association of France that represents 93 luxury brands and behemoths such as LVMH, Chanel and Kering. “Is India the next promising market? There are obstacles such as custom duties and…
