24/7 News Daily
Burberry Group Plc shares surged after a pickup in US demand boosted the trench-coat maker’s results, raising investor hopes for a luxury-market recovery. Retail sales fell 4 percent on a comparable basis, Burberry said in a statement Friday, better than the drop of almost 13 percent forecast by analysts. Sales in the Americas unexpectedly climbed,…
Swiss fragrance and flavour maker Givaudan on Friday reported annual results above market expectations, buoyed by strong sales growth across its markets, and said it would most likely exceed the growth target for 2021-2025. Strong sales growth has boosted Givaudan’s profitability over the past year, with an exceptionally strong fragrance business leading the way. Its…
Join us for a BoF Professional Masterclass that explores the topic in our latest Case Study, “How to Create the Perfect E-Commerce Site.”
The author has shared a Podcast.You will need to accept and consent to the use of cookies and similar technologies by our third-party partners (including: YouTube, Instagram or Twitter), in order to view embedded content in this article and others you may visit in future.Accept Subscribe to the BoF Podcast here. Background: In a slowing…
Opens in new window Now that the post-pandemic flurry of customers returning to stores has begun to cool, in-store sales growth is forecast to be around 1 to 2 percent on average across key markets in 2025, compared to the last few years of high single-digit to double-digit growth. This normalisation comes as store foot…
In early January, e-commerce tech firm Rokt brought its more than 600 employees to Austin, Texas for its annual retreat — a tradition with a hefty price tag (past host cities have included Phuket, Thailand and Sydney). But there’s a crucial reason the New York-based company is doubling down on the investment. “When there’s a…
Italy is the epicentre of luxury’s supply chain: many of the world’s biggest luxury brands rely on thousands of workshops across the country to make their best-selling products, which arrive in glittering stores emblazoned with the prestigious “Made in Italy” stamp. But across Italy’s manufacturing sector, a crisis is playing out that threatens this critical…
As the global luxury industry flounders amid tepid consumer demand this year, Mytheresa continues to buck the trend. The luxury e-tailer finished its fiscal year, which ended in June, with sales up 10 percent to €841 million ($927 million) and €26 million in adjusted earnings before interests, taxes, depreciation and amortisation, it announced in its…
Hindustan Unilever, the India unit of the global personal care conglomerate, announced on Wednesday that it will acquire a majority stake in Minimalist, the Indian premium beauty brand. Financial terms of the deal were not disclosed. Hindustan Unilever has taken a 90.5 percent stake in the company and will progress to full ownership within two…
Swiss luxury conglomerate Richemont’s stock market value surpassed 100 billion Swiss francs ($110 billion) for the first time, bolstered by the appeal of its blockbuster jewellery label Cartier. Shares of the company controlled by billionaire Johann Rupert have risen for six straight days since the company last week reported better-than-expected sales for the most recent…