Established in 2001, L Capital, the investment fund of the LVMH and Arnault groups, have acquired holdings in some 25 companies and announced that, for the entire business, profits are up $1.5 billion over the past 18 months. Daniel Piette comments...
British luxury handbag maker Mulberry posted surging Christmas sales and raised its annual profits forecast Thursday, in a further sign that the high-end fashion sector is bypassing the economic gloom.
British luxury brand Burberry posted a 22 percent rise in third-quarter revenue as wealthy shoppers and tourists, particularly in Asia, showed their resilience to shaky economies in Europe and the United States.
Sales growth at Richemont held up in the company's third quarter, easing fears the sector might be in for a marked slowdown this year and allowing the Swiss luxury goods group to confirm its profit goal for the year.
British retailer JD Sports Fashion said its acquisition of loss-making Blacks Leisure's assets would lead to a small reduction in earnings but it expected its full year results to be within the current range of forecasts.
Tiffany & Co sales over the holiday season weakened markedly in the United States and Europe, prompting the upscale jeweler to lower its full-year profit forecast and sending its shares down more than 10 percent in early trading.
Shareholders in Anglo American voted to approve the global miner's $5.1 billion acquisition of an additional 40 percent stake in De Beers, bringing the company closer to sealing control of one of the world's biggest diamond firms.
British outdoor goods retailer Blacks Leisure is to go into administration and then be sold within days to one of four bidders including entrepreneur and Dragons' Den TV star Peter Jones, JD Sports Fashion and Sports Direct.