LVMH’s Louis Vuitton has acquired Balenciaga’s creative director Nicolas Ghesquière Nov. 4 as artistic director of its women’s collections to fill the gap left by Marc Jacobs.
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The Americas are expected to surpass China in terms of luxury goods spending growth, while global revenue will climb an estimated two percent to $299 billion, according to a new study by Bain & Co.
NEW YORK – The CEO of The Luxury Institute at the Luxury Interactive 2013 conference said that luxury brands should focus on building a culture of relationship building and sales will follow.
The Neiman Marcus Group Inc. was purchased for $6 billion by investment firm Ares Management and the Canada Pension Plan Investment Board Sept. 9, which makes this the second United States-based department store after Saks Fifth Avenue that has new Canadian owners.
Many luxury brands have branched out into new product categories, but the products must be well designed and well made to convince consumers that the purchase is worthwhile, experts say.
Swatch Group’s recent distribution limitation of certain mechanical movements and assortments by the Swiss Federal Competition Commission, or Comco, allows rival watchmakers to continue operations largely unimpeded and without any urgent reason to research and develop their own production techniques.
LVMH Moët Hennessy Louis Vuitton’s $2.6 billion deal for 80 percent control of Italian cashmere giant Loro Piana will give the French luxury conglomerate an iron lock on the entire supply chain.
Family-owned Hermès filed a lawsuit against luxury conglomerate LVMH Moët Hennessy Louis Vuitton in an attempt to cancel complex derivatives that allowed Dior’s parent to build up its ownership of Hermès.
If Saks Inc. goes through with the leveraged buyout of its company, the result could either spur international growth of the retailer or hollow out the company depending on the buyer’s intentions.
Richemont is attributing its full-year sales increase to demand in China and Asia-Pacific, contributions from currencies and exchange rates and the broad growth from its brands across all regions.