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Louis Vuitton manager Ledru, Arnault son to lead Tiffany & Co
PARIS: A top executive at Louis Vuitton and one of Bernard Arnault’s sons are set to take over management of Tiffany & Co after the biggest acquisition in the luxury industry by LVMH.
Paris high-end hotels face gloomy future on travel restrictions
PARIS: As the capital of the world’s No. 1 tourist destination, Paris has no shortage of hotels for all tastes and wallets, from the dumpy dive to the pillared palace, where a single night can set you back as much as 30,000 euros (US$35,000).
Manufacturers want to quit China for Vietnam. They’re finding It impossible.
Global companies are rushing to seek alternative bases, only to find even promising countries like Vietnam don’t match up
Standard Chartered to pay US$1.1b for sanctions violations
WASHINGTON: Standard Chartered Plc has agreed to pay US$1.1 billion to U.S. and British authorities for conducting illegal financial transactions that violated sanctions against Iran and other countries, government authorities announced on Tuesday.
Samsonite innovation, lightness and durability offer travellers superiority
Business, leisure and frequent flyers seeking luxury and quality while travelling and exploring need only look to Samsonite suitcases for comfort and confidence.
LVMH to gain control of Dior after US$13bil Arnault deal
PARIS: French billionaire Bernard Arnault moved to consolidate control over Christian Dior for about 12.1 billion euros (US$13.2bil), folding the fashion house’s operations into the LVMH luxury empire in one of his biggest transactions.
Billionaire Taizo Son ditches Japan to start afresh in S’pore
He plans to invest US$100mil in South-East Asia within five years
LVMH buys 80% of German luggage group Rimowa
PARIS: French luxury group LVMH, owner of the Louis Vuitton brand, has agreed to buy an 80% stake in high-tech luggage maker Rimowa for 640 million euros (US$716mil), its first acquisition in Germany.
Hong Kong’s expat consumer brands fall on hard times
FIVE years ago, foreign consumer brands listing in Hong Kong carried the cachet of a Ian Fleming hero: Stylish, international, and with an unmistakable scent of victory about them. Nowadays, they’re starting to resemble the broken dead-enders of a Graham Greene novel.
How British firms built a pyramid scheme in China that lost millions
SHANGHAI: As David Byrne ate breakfast at the Tongli Lakeview Hotel outside Shanghai one Sunday in April, an angry customer was waiting for him.
