Online luxury retailer Yoox Net-a-Porter (YNAP) will be delisted from the Milan Stock Exchange on June 20 after Cartier owner Richemont reached nearly 95 percent of YNAP’s ordinary shares after a takeover.
Richemont has launched a new watch brand, Baume, offering trendy time pieces priced in the hundreds rather than the thousands of dollars to lure young people away from using their smartphones to tell the time.
The Global Brand Counterfeiting Report 2018 was published on Monday, revealing a growing problem in the luxury industry, where online sales of fake goods accounted for 31% of total counterfeiting-related losses in 2017.
Q1 wasn't an undiluted triumph for Yoox Net-A-Porter as the off-price business proved a little slow. But full-price Net-A-Porter and designer e-stores powered ahead, even though exchange rates had a negative effect.
Italian luxury group Tod’s like-for-like sales should improve in the second quarter of the year and turn positive starting from the second half, its Chief Financial Officer Emilio Macellari said on Wednesday.
London’s historic luxury destination Burlington Arcade is being sold to the Reuben brothers for £300m. The arcade has been on the market since last year with estimates at one point that it could fetch over £400m.
Swiss group Richemont, owner of the Cartier, Piaget and Chloé brands, among others, and the third largest luxury group in the world, has reworked the management of its watch brands Jaeger-LeCoultre and Baume & Mercier.
China's top court has ruled in favour of the French fashion house, overturning rulings by lower courts and rapping the local trademark office for rejecting Dior's application to register a perfume bottle trademark.