In an unexpected twist for the luxury sector, LVMH, the world’s largest luxury goods conglomerate, revealed a 5 percent decline in third-quarter sales within its core fashion and leather goods division. This includes iconic brands such as Louis Vuitton, Dior, and rising stars like Loewe and Celine. This downturn arrives after a prolonged period of […]
Luxury Market in Flux: Can Fiscal Stimulus Resurrect Chinese Consumer Confidence?
Investors in the French luxury group LVMH are tuning in closely to the latest economic developments in China, particularly the country’s new fiscal stimulus measures. There’s a palpable hope that these efforts might rejuvenate a once-vibrant consumer base that has cooled significantly in recent months. As one of the largest shopping events—Singles Day—approaches, the stakes […]
This Week: Has Luxury Hit Bottom?
Once considered the epitome of success in the retail sector, luxury brands now face a tumultuous landscape, prompting questions about the future of the industry. Not long ago, luxury brands confidently announced impressive quarterly results characterized by soaring sales figures—often up by 10, 20, or even 30 percent—thanks to a surge in demand post-pandemic and […]
Arnault Poised to Buy Paris FC Football Club With Red Bull
In a substantial move that underscores the intersection of luxury and sports, Bernard Arnault’s family is on the verge of acquiring a majority stake in Paris FC, a second-tier football club in France, in a partnership with the Red Bull brand. This strategic investment reflects the Arnault family’s commitment to diversifying their portfolio and merging […]
LVMH and Formula 1 Announce 10-Year Partnership
In a significant move for both the luxury fashion and motorsport industries, LVMH and Formula 1 recently unveiled a groundbreaking partnership that will commence in 2025. This collaboration marks a strategic union that will align several prestigious LVMH brands—most notably Louis Vuitton, Moët Hennessy, and TAG Heuer—with the high-octane world of Formula 1 racing. This […]
Hedi Slimane Is Exiting LVMH’s Celine
The departure of Hedi Slimane from Celine marks a significant shift in the luxury fashion landscape, particularly within the LVMH conglomerate. After seven years at the helm, Slimane’s exit was confirmed recently, concluding months of complex contract negotiations with LVMH’s chairman, Bernard Arnault. This decision comes on the heels of Slimane’s impressive tenure, during which […]
LVMH Sells Off-White Brand to Bluestar Alliance
In a significant shift within the luxury fashion landscape, LVMH has sold Off-White LLC to Bluestar Alliance LLC, a New York-based brand management company. This deal, announced on September 30, 2024, marks a pivotal moment for the Off-White brand, which has experienced tumultuous changes since the passing of its founder, Virgil Abloh, in 2021. The […]
L Catterton-Backed Beauty Industry Group Appoints CEO
In a significant move for the beauty industry, Robert Schaeffler has been appointed as the new CEO of the Beauty Industry Group (BIG), taking over from Derrick Porter, who has led the company for nearly two decades. Schaeffler’s experience, notably as the former CEO of hair care brand Vegamour, positions him well to steer BIG […]