The royal wedding underlines the economic potential of a sector that needs to embrace digital technologies and look for new markets and formats to face a fragmented landscape where millennials will reign supreme.
Online luxury retailer Yoox Net-a-Porter (YNAP) will be delisted from the Milan Stock Exchange on June 20 after Cartier owner Richemont reached nearly 95 percent of YNAP’s ordinary shares after a takeover.
CVAs are ‘the new black’ in the UK this year but it seems that while House of Fraser is-on trend in this respect, it might struggle to get its CVA through as landlords prove uniquely resistant to its plans.
Macy’s raised its full-year profit forecast on Wednesday and reported better-than-expected quarterly and same-store sales, helped by strong international tourism, a new loyalty program and a greater product assortment.
Richemont has launched a new watch brand, Baume, offering trendy time pieces priced in the hundreds rather than the thousands of dollars to lure young people away from using their smartphones to tell the time.
Japanese intimates giant Wacoal reported a mixed set of results with sales broadly flat but operating profit up, although net profit fell. Yet investors seemed pleased as the shares rose after the announcement.
Burberry seems to be on track with its transformation plan with sales and profits not suffering as it enters a period of fast change. But tough comparisons and regional variations also had an impact on its latest year.