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The Latest Breaking News from LVMH

LVMH will reduce its electricity consumption by 10 percent

Employees better get used to taking the stairs.

Input

Louis Vuitton reduces thermostat and light use in shops to save energy

LVMH announced measures after Emmanuel Macron urged France to reduce power consumption

The Guardian - UK

Gucci’s Sales Growth Eases in Q2 as China Lockdowns Weigh

Gucci's sales growth eases in Q2 as China lockdowns weigh Sales at French luxury group Kering's top brand Gucci rose by just 4% in the second quarter, the group said on Wednesday, as a new round of lockdowns weighed on revenues in the key Chinese market. Overall sales for Kering,…

Asharq Al-Awsat

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Glossier is coming to Sephora stores in 2023

The brand is best known for its Cloud Paint blush and Boy Brow eyebrow gel

The Independent UK

Luxury Bags Are Selling Really Well

LVMH revenue for the period between June and January rose by 27%.

The Street

LVMH Q2 Sales Climb 19%, Offsetting Slower China

Sales at LVMH, the world's largest luxury group, rose by 19% in the three months to June, as robust growth in the US and China helped it offset a new round of lockdowns in China. LVMH, which owns dozens of high-end labels such as Tiffany, said sales came to 18.73…

Asharq Al-Awsat

American tourists splurge in Paris boutiques as euro slides

American tourist Shawna Wilson says she has splashed out on four dresses at the high-end LVMH-owned department store La Samaritaine in Paris, tempted by the prices as the euro reached parity with the U.S. dollar.

Reuters

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Dior Withdraws Valentino Compensation Demand over Glitzy Rome Show, Source Says

LVMH-owned Dior has withdrawn a request for 100,000 euros in compensation from rival fashion label Valentino for allegedly blocking access to its Rome store with a celebrity-packed runway show on the city's Spanish Steps, a source told Reuters. Citing a letter from Dior, the source familiar with the matter said…

Asharq Al-Awsat

Sephora is permanently leaving Russia

News of the exit comes as Russia’s war on Ukraine approaches its sixth month

The Independent UK

LVMH’s Sephora to Sell its Russian Subsidiary

LVMH's retail beauty brand Sephora is selling its Russian subsidiary to the local general manager of the chain, the French company said on Monday, joining a flood of Western businesses leaving the country. Sephora, which has 88 stores in Russia with 1,200 employees, will now operate under the "Ile de…

Asharq Al-Awsat

Uber offered shares to media barons for political help, leak reveals

Tech firm wooed owners of publications in Europe and India as it sought favourable treatment from governments, documents show

The Guardian - UK

Kenzo channels preppy, Celine goes for razzmatazz in Paris

Kenzo’s designer, Nigo, found his groove for his sophomore collection at the LVMH-owned house, drawing vibrant parallels with house founder Kenzo Takada

The Independent UK

Kenzo Designer Dazzles Paris with Color, Preppy Styles

Kenzo’s designer, Nigo, found his groove for his sophomore collection at the LVMH-owned house, drawing vibrant parallels with house founder Kenzo Takada. Nigo has made history as the first Japanese designer to front the house since Takada, who died in 2020. But beyond the fashion, Nigo — who has made…

Asharq Al-Awsat

BofA Picks Top Luxury Stocks

The pandemic has created a new billionaire every 30 hours, and the inequality of income distribution is increasing.

The Street

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Evening Standard

S.S. Daley: ‘The Harry Styles effect put our brand in a different lane’

He won the €300,000 LVMH Prize for young fashion designers last week. Now Steven Stokey-Daley is ready to invest in his future

The Street

Chanel Mulls Not Letting People Buy More Than Two Bags A Year

"We have sometimes to limit the number of items a single client can buy,” Chanel CFO Philippe Blondiaux told Reuters.

Benzinga

How The Tables Have Turned: Could Elon Musk Be 'Forced' To Buy Twitter?

The uncertainty around the Twitter, Inc. (NYSE: TWTR) deal has intensified ever since Elon Musk announced on the company's namesake platform that the deal had been put on hold.

Financial Times

Lex in depth: why the luxury market needs to hedge against China

A shift in spending habits in Asia and a crackdown on wealth by Beijing threaten a profit squeeze for high-end brands

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Evening Standard

The world’s top 10 billionaires: Who are they, what is their net worths and how did they build their fortunes?

The rate of billionaires increases year on year, with the current number at 2,755 billionaires worldwide, according to Forbes magazine.

Radio France Internationale

Luxury goods market on a high, despite conflict, pandemic

Global luxury brands have posted strong results for the first quarter of this year despite global hardships including the conflict in Ukraine, inflation and Covid restrictions in Asia. This comes on the back of an exceptional year in 2021.

The Street

Despite It All, People Are Buying A Lot Of Dior And Louis Vuitton

"What is true today may be wrong tomorrow," LVMH CFO Jean Jacques Guiony said during the analyst call.

The Hindu

Jean-Christophe Babin: watch CEO and a social media star

Jean-Christophe Babin is rewriting the future of the watch fair, gave the world its thinnest mechanical watch this year and gets what the digital age is all about

The Guardian - UK

Birkenstock and Manolo Blahnik: is this the most unlikely fashion pairing ever?

The maker of comfy sandals has hired Blahnik – famed for its luxury stilettos – to jazz up its women’s range. Stand by for a £415 fuchsia version with a sparkly buckle

ABC News

The multi-trillion-dollar fashion industry is halting sales in Russia, including Australian brands

With the war in Ukraine rapidly deteriorating, superannuation funds and mining companies have been withdrawing assets from Russia. But another multi-trillion-dollar global industry is facing public pressure too.

Radio France Internationale

Top French designers 'temporarily' stop business in Russia over Ukraine war

French luxury giants LVMH, Hermes and Chanel have announced that they will temporarily close their shops in Russia starting this weekend. The move comes as a reaction to Moscow's decision to invade Ukraine on 24 February.

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