Luxury jeweler Tiffany & Co, which is being bought by France's LVMH, missed market expectations for quarterly profit and sales on Thursday, hit by lower spending by foreign tourists in the United States and Hong Kong.
The news published by Bloomberg about a possible takeover of the down jacket label by the French luxury group fuelled plenty of speculations. FashionNetwork.com analyses the operation’s potential impact.
As luxury giants continue to snap up the world’s top brands, could the latest move be Kering preparing to buy Moncler? It could be if news reports are to be believed, although neither company has commented.
The U.S. threat of tariffs on French goods from handbags to Champagne proved just a glancing blow to giants like LVMH and Kering this week, as investors refused to give up their decade-long love affair with luxury goods.
The chief executive and top shareholder of Moncler played down speculation around a takeover by Gucci-owner Kering on Thursday, saying the two firms sometimes talked but that there was no deal in the works.
Aquascutum’s Chinese owner is the subject of a potential lawsuit over unpaid invoices, as fears over a liquidity crisis persist. A Portuguese fabrics firm called Calvelex is expected to take it to court this week.
After inaugurating two permanent stores in Mexico last month, the French luxury label has opened two pop-up shops dedicated to its women's collections in the country’s beach resorts of Cancún and Tulum.