
The world's top luxury company LVMH said Tuesday it plans to buy Christian Dior Couture, a wholly-owned unit of Christian Dior SA, for 6.5 billion euros ($7.0 billion).
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The world's top luxury company LVMH said Tuesday it plans to buy Christian Dior Couture, a wholly-owned unit of Christian Dior SA, for 6.5 billion euros ($7.0 billion).
According to 2 surveys for the Altagamma Foundation by Exane BNP Paribas and the Boston Consulting Group, omni-channel retailing is the luxury industry's new growth driver.
Outgoing Balenciaga boss Isabelle Guichot, who was expected to remain with parent Kering, has reached an agreement to leave the French luxury and sports group, sources close to the company told Reuters.
The multiplying closures of luxury stores in Hong Kong are indicative of the city losing its strategic role as gateway to the Asian market for the luxury goods industry, analysts suggest.
The strategies always pursued by the luxury market are now outmoded and the industry needs to find new growth drivers, especially through the web, according to a survey by Exane BNP Paribas.
Britain's Burberry and U.S. firm Coach are not in active merger talks, sources familiar with the matter said on Friday, in reaction to a report that suggested a merger was being explored.
Luxury goods giant LVMH posted a forecast-beating acceleration in third-quarter sales on Monday, helped by improved trading in major markets such as China and resilient demand in the United States.
French luxury goods maker Hermes on Wednesday said it would no longer provide an annual sales growth forecast starting next year due to the increasingly uncertain trading environment.
The United States overtook Hong Kong as the No.1 market for Swiss watch exports in July as cash-strapped watch retailers in Hong Kong held back from ordering new timepieces.
Italian fashion designer Giorgio Armani said on Friday he would create a foundation in his name, for the first time shedding some light on succession plans for his fashion business.