French luxury goods maker Hermes, one of the biggest beneficiaries of the 2010 luxury rebound, said on Friday it would reorganise its executive committee from May 2 in a bid to boost efficiency and growth.
Cash rich companies will go shopping for mid-cap firms in Europe this year as the early part of an M&A cycle takes hold, the co-head of European equities at Edmond de Rothschild Asset Management said on Wednesday.
Wal-Mart Stores Inc named a longtime grocery executive as the chief merchandising officer for its U.S. discount stores on Friday, filling the post that had been vacant since John Fleming left the role last year.
Aramis and Designer Fragrances, a division of The Estée Lauder Companies Inc., has announced the executive appointment of Stéphane de la Faverie to the newly created position of global senior vice president and general manager of the Aramis brand.
Bernard Arnault, chief executive of the world's No.1 luxury group, LVMH, said he was not seeking control of luxury peer Hermes, in which his group owns more than 20 percent, but was a friendly shareholder.
German drugstore owner Erwin Mueller's move to further raise his stake in Douglas comes as no surprise to the fragrance-to-jewellery retailer, its chief executive said in response to statements by Mueller.
After its exit in 2009, Versace has decided to return to the Japanese market, where F/W 2011 collections will be sold at luxury department stores in Tokyo and Osaka. This re-entry will be led by Hiroshi Saito, the newly appointed CEO of Versace Japan.
François-Henri Pinault, PPR’s Chairman and CEO, has created a new business unit dedicated to e-business development to be headed by Fabien Sfez who will report directly to Mr. Pinault and will join PPR’s executive committee.