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Business 26 Apr 2018 | 12:00 AM

Gucci fuels booming sales at luxury firm Kering

PARIS: Booming sales growth at French luxury group Kering got even faster in the first quarter, sending its shares to record highs, as red-hot demand for its Gucci clothing and handbags was joined by other labels such as Balenciaga.

Corporate News 07 Aug 2018 | 12:00 AM

For these billionaires, it’s all about cruise fleets

NEW YORK: It was a cold and cloudy July day in Reykjavik, and French arts patron Maryvonne Pinault was at a pier fulfilling her godmother duties for Le Laperouse, the first of six 184-passenger, upscale expedition yachts from her husband’s Marseilles-based cruise line Compagnie du Ponant.

Corporate News 07 Sep 2018 | 12:20 AM Premium

Why luxury brands burn their own goods

British fashion label Burberry says it is kicking the habit

Forex 09 Sep 2018 | 10:54 PM

If you exchange US$ for Indonesia rupiahs you get a free meal

JAKARTA: As Indonesia's currency trades at its weakest levels since the 1998 Asian financial crisis, a local restaurant chain is offering free meals to clients who can prove they have exchanged holdings of U.S. dollars for the ailing rupiah.

Retail 25 Sep 2018 | 12:06 AM Premium

Michael Kors nears deal to buy Versace for around US$2.4bil

The acquisition would give Michael Kors a sought-after foothold in high fashion

Corporate News 30 Nov 2018 | 7:18 AM

Chinese sneeze could give Europe Inc. a nasty flu

LONDON/MILAN: With sluggish growth translating into the most disappointing earnings in years, European stocks are set for a tough ride if a full blown Sino-U.S. trade war erupts following Presidents Donald Trump and Xi Jinping's G20 dinner on Saturday.

Retail 31 Jan 2019 | 12:00 AM

LVMH eases fears of a luxury slowdown in China

PARIS: Chinese consumers may not be snapping up iPhones, but LVMH sees no let-up in shoppers’ thirst for luxury goods.

Corporate News 04 Feb 2019 | 12:00 AM

Swatch sees weakening demand in Chinese market

GENEVA: Swatch Group AG fell the most in more than two years after Switzerland’s largest watchmaker reported market turbulence in China that contributed to a slowdown in the fourth quarter.

Business 13 Feb 2019 | 12:00 AM

Gucci sales up 28% in Q4 2018

PARIS: Kering’s Gucci label continued to outpace competitors in the fourth quarter, giving another signal that Chinese appetite for luxury goods remains healthy.

Corporate News 18 Mar 2019 | 2:56 AM

Prada loses US$700m in value as China slowdown hits profits

HONG KONG: China’s slowdown has claimed another corporate scalp, with shares of Italian fashion house Prada SpA sliding the most since January after a pullback in the world’s biggest consumer market contributed to an unexpected drop in annual profit.