ZURICH: Richemont confirmed the slowdown in the luxury sector when the Cartier jewellery owner reported a drop of 1% in its fourth quarter sales on Friday. The company, which also owns high-end Swiss watch brands, such as Piaget and Jaeger-LeCoultre, said sales fell to 4.80 billion euros ($5.21 billion) in the three months to the…
Representative Image Mumbai: Malabar Gold & Diamonds and four other jewellery firms along with fashion accessory maker Titan have joined the global rank of top-100 luxury brands. Malabar Gold led the domestic contingent, claiming 19th rank as the top Indian international jewellery brand, followed by Tata group entity Titan Company which secured the 24th position….
PARIS: Luxury goods group LVMH posted a 10% rise in fourth-quarter sales on Thursday, as growth edged up from the previous quarter, driven by resilient demand – including from Chinese buyers – for its high-end fashion over the all-important end-of-year period. Sales at the world’s biggest luxury group, which owns labels, including Louis Vuitton, Dior…
Richemont ZURICH: Richemont has restarted its attempt to offload its online fashion and accessories retailer Yoox Net-A-Porter (YNAP), Chief Financial Officer Burkhart Grund said on Thursday after the Cartier owner posted its Q3 results. “We’re preparing the process to identify a future majority shareholder or a majority that can go up to 100% for YNAP,”…
ZURICH: Cartier owner Richemont enjoyed a surge in sales in China in its latest quarter, signalling on Thursday the resilience of the high end of the luxury market and sending shares of the Swiss watch and jewellery maker sharply higher. China’s cooling economy and ongoing property crisis have been a worry for the sector which…
ZURICH: Richemont, owner of jeweller Cartier, said on Wednesday it would not inject any cash into online luxury retailer Farfetch, following a report that the latter was exploring going private. Farfetch founder Jose Neves is considering the move after a troubled New York Stock Exchange listing for the loss-making British company, and is working with…
Representative image Global luxury brands such as Gucci, Cartier, and Louis Vuitton, among others, have signed leases for retail spaces in a new Mumbai mall developed by Asia’s richest Mukesh Ambani, as the brands and Reliance Industries look to tap lucrative prospects presented by India’s robust economic growth and the swift increase in the number…
Representative image US President Joe Biden’s attendance at the G20 Summit has raised hopes of the Indian diamond trade for a better deal as the US has slashed imports of cut and polished diamonds from India by almost 50% amid apprehensions that many of these stones might have indirectly come from Russia. The US has…
