The world's top diamond producer De Beers announced an "exceptional" year in 2011, with profits up 72 percent to $939 million on surging consumer demand, in a results statement on Friday.Total sales rose 26 percent to 7.
From culture-jamming youths wired into a networked world, to neo-dandies or take-it-slow types, what tomorrow's man will look like -- and what he might want to buy -- is a capital issue for big brands.
At December 31, for its first three quarters, the Japanese group reported increases in sales of nearly 6%, reaching a figure of over 1.8 billion Euros. However, its operating profit also declined by 11%.
Estee Lauder Cos Inc forecast quarterly earnings far below Wall Street estimates as the cosmetics company said it suffered because of foreign exchange rates and would increase investments in advertising, sending its shares down nearly 7 percent.
Italian cashmere goods maker Brunello Cucinelli said on Friday it had filed with Italian regulators for an initial public offering (IPO) of its shares on the Milan bourse , as signs emerged recently of steadier market conditions.
Elizabeth Arden Inc forecast a weaker current quarter than analysts had anticipated as it feels pressure from volatile foreign exchange rates and spends on speeding up the rollout of its updated namesake brand.
LVMH, the world's biggest luxury group, posted a forecast-beating 22 percent rise in 2011 operating profit, helped by rapid growth in Asia and at its Louis Vuitton brand, and said the outlook for this year was "excellent".
Finnish sporting goods group Amer Sports reported lower-than-expected fourth quarter operating profit and sales, but forecast sales growth in 2012 on strong apparel and footwear orders. October-December operating profit decreased 4 percent to 46.
Procter & Gamble Co cut its full-year profit forecast because of the strong dollar, and its quarterly profit plunged 49 percent as the world's largest household products maker wrote down the value of its appliance and salon professional products businesses.
Sonia Rykiel, one of the last family-controlled French fashion houses, is in exclusive talks with privately held Fung Brands which could lead to the investment firm taking an 80 percent stake in the company to help it expand internationally.