November 6, 2012
Today in luxury marketing:
Nicolas Ghesquière to leave Balenciaga
In a surprise move, Nicolas Ghesquière is parting ways with Balenciaga, the Paris house he transformed into a modern luxury brand with a following for its clothing and accessories, per The New York Times.
Tiffany to open on Champs-Elysées
Tiffany & Co. said it plans to open a European flagship store on the Avenue des Champs-Elysées in Paris in 2014, according to WWD.
Investcorp buys Danish luxury retailer
Bahrain's Investcorp has signed a $140 million deal to buy Danish luxury retailer Georg Jensen, despite signs that the luxury market boom may be coming to an end, The Wall Street Journal reports.
L'Oreal says luxury trading "brutal" in South Korea, Taiwan
L'Oreal, the world's biggest cosmetics group, is feeling the effects of the slowdown in China and "brutal" trading conditions in South Korea and Taiwan, the company said, per Reuters.