Richemont, the owner of Cartier and Chloé, gave details of its proposed shareholders' loyalty scheme on Friday, where it will give warrants to investors which later can be converted into newly created stock.
Hugo Boss said on Tuesday it had returned to strong growth in China in June and online sales jumped 74% in the second quarter even as it reported an overall 59% fall in sales for the period due to lockdowns.
Sales at Maybelline maker L’Oréal fell more sharply than expected in the second quarter, though the French beauty giant managed to contain any major profit erosion as the COVID-19 pandemic forced stores to close.
French luxury group Kering's Q2 comp sales plunged by 43.7% due to the coronavirus. Gucci comp sales fell 45% and Saint Laurent 48%, but recovering Bottega Veneta contained the drop in revenue to only 24.4%
LVMH, the world’s biggest luxury goods group, said sales momentum picked up in June and had especially improved in China, after store closures sparked by the pandemic tore a hole in the Louis Vuitton owner’s Q2 sales.
Fragrance and flavour maker Givaudan said it was on track to meet its 2020 guidance after net profit rose 9% and like-for-like sales grew 4% in the first half as consumers kept buying soap during the Covid-19 pandemic.
Harvey Nichols is the third big name in just a couple of days to be mulling job cuts in the near future. The company is looking at removing roles from all of its stores, although it's trying to minimise the impact.
The United States on Friday unveiled heavy import duties on France in retaliation for the country's tax on American tech giants, but will hold off on collecting the fees to allow time for the dispute to be resolved.