Gucci‘s India manager Nader Wassel has quit the company, according to people in the know, exiting his role at the luxury brand at a time when its French parent, Kering, is implementing restructuring measures amid declining sales. Wassel, who also served as managing director of South Asia and the Pacific for Gucci’s watches and jewellery,…
Representative Image Mumbai | New Delhi: Promoters of affordable luxury leather brand Da Milano Italia are looking to sell a significant stake in the company at an enterprise valuation of ₹1,500 crore, multiple people aware of the deals said. “The company is in talks with potential investors to dilute equity stake in the business,” said…
The majority shareholder in luxury brand Mulberry on Sunday said it had no interest in selling any of its stake to sportswear and apparel retailer Frasers Group, in a statement designed to end Frasers’ takeover attempt. On Friday Frasers, Mulberry’s second-largest shareholder, increased its bid after the brand, known for its handbags and belts, rejected…
Marks & Spencer (M&S) smashed forecasts with a 58% rise in annual profit on Wednesday and announced its first yearly dividend since 2019, suggesting the British retailer may finally have found a recipe for revival after two decades of trying. Shares in the 140-year old food and clothing group, one of the biggest names in…
LONDON: Jewellery retailer Pandora raised its growth targets on Thursday, saying investments in the brand and store network were paying off, although it sounded a note of caution on China. Pandora’s shares jumped 5.9% in early trading after the company gave its updated outlook, ahead of a capital markets day in London on Thursday, and…
Ralph Lauren on Thursday forecast current-quarter sales largely below Wall Street expectations, as demand for its pricey sweaters, shirts and outdoor wear tapers amid a broad slowdown in U.S. luxury spending. After a robust spending spree last year, affluent shoppers in the U.S. have now cut back on luxury goods purchases as sticky inflation and…
