A Rolls-Royce Ghost, Hermès handbags and rare paintings were among the luxury items seized from fugitive billionaire jeweller Nirav Modi that raised $7.65 million for India's tax authorities at an auction Thursday.
Buying House of Fraser and ultimately loss-making stakes in firms like Debenhams and MySale may have been a chastening experience for Sports Direct boss Mike Ashley, but it hasn't stopped him from looking for more buys.
Strong demand in mainland China helped Cartier-owner Richemont offset a weaker performance elsewhere in its first quarter, as protests in Hong Kong hit sales, revenues fell in Europe and its watch business faltered.
The YNAP buy lit a rocket under Richemont sales last year, but it dented profitability. Yet the group remains strong with jewellery and watches buoyant while Chloé and Dunhill have seen good reactions to new products.
Billionaire Philip Day is now in control of struggling Bonmarché after buying a 52% stake in the distressed retailer. The Peacocks and Jaeger owner will launch a bid for the remaining 48%, along with a business review.
Another week, another likely UK fashion brand going under. Liam Gallagher's label Pretty Green is expected to appoint administrators in the week starting March 25 as the weak retail environment claims its latest victim.