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Retail Asia26/02/2018

After a 17-year partnership, French luxury group Kering is selling its 50 percent share of Stella McCartney back to the namesake designer. The public announcement, originally slated for early January 2018, is imminent, according to a source with first-hand knowledge of the discussions. According to the source, the Stella McCartney HR team is preparing a […]

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Retail Asia15/02/2018

In a “phenomenal” result, global luxury group Kering had record operating revenue last year, driven in large part by the popularity of Gucci. Kering’s income totalled €15.4 billion (US$19 billion), up 25 per cent as reported or 27.2 per cent on a comparable basis. Revenue from luxury activities was up 27.5 per cent as reported, […]

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Retail Asia15/01/2018

Luxury fashion brand owner Kering says it will sell off the majority of its Puma stake. Under the plan, Kering will reduce its 86 per cent holding in the German athletics-wear label to 16 per cent, the remaining 70 per cent of stock distributed proportionally to Kering shareholders. While Puma has proven successful under Kering’s […]

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Retail Asia31/10/2017

Jewellery retailer Cartier has teamed with Kering Eyewear for its latest eyewear collection. Presented at the Silmo International Optics and Eyewear Exhibition in Paris, it marks the official start of the companies’ licensing agreement. Described as “timeless”, the collection has three main components, Santos de Cartier, C de Cartier and Panthere de Cartier, and introduces […]

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Retail Asia02/08/2017

Luxury brand and sportswear retailer Kering has reported first-half consolidated revenue up 28.2 per cent to €7.296 billion. Kering revenues in Asia-Pacific, (excluding Japan), soared 34.4 per cent and that market now accounts for 28 per cent of the group’s total sales. Japanese sales rose 20.7 per cent. Sales in its luxury division rose 29.7 […]

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Retail Asia24/03/2017

French luxury goods brand Hermes made a record net profit last year of €1.1 billion (US$1.19 billion), doing “better than we expected”, according to CEO Axel Dumas. “We are entering this year on a solid base, but remain cautious in view of an uncertain environment.” Known for its $10,000 Birkin bags and $400 printed silk […]

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Retail Asia07/11/2016

Rebounding luxury goods sales in Mainland China and improvements in Hong Kong have boosted third-quarter Hermes results. Analysts are pointing to these and last week’s strong Kering numbers in tipping the worst may now be over for both luxury markets. Hermes reported overnight that sales climbed to 1.26 billion euros (US$1.4 billion) in the last […]

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Retail Asia31/10/2016

Luxury goods and apparel giant Kering has reported a 10.5 per cent global rise in revenues in the latest quarter, with luxury sales up 11.3 per cent and sports and lifestyle brands up 9.3 per cent. Most significantly, at a time its peers are battling falling sales in Hong Kong, Macau and some brands even […]

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Retail Asia18/05/2016

Alibaba is tightening the rules for traders selling luxury goods on its popular online platform Taobao. It’s one of several measures in the ramping up of the Alibaba fake fight, which is being conducted in conjunction with Washington, DC-based International AntiCounterfeiting Coalition (IACC). From May 20, vendors selling luxury products on taobao will have to […]

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Retail Asia05/05/2016

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French leather goods maker Hermès Group’s revenue was up 6 percent in the first quarter of 2016, despite a challenging luxury landscape. Consolidated revenues for the house were 1.19 billion euro, or about $1.35 billion at current exchange rates. Even with the negative effects of the Paris terrorist attacks, Hermès’ European sales grew 9 percent […]

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Retail Asia29/04/2016

French luxury-goods maker Kering SA reported first-quarter revenue that trailed analysts’ estimates as slowing tourism and the strong dollar weighed on demand for Gucci loafers and Bottega Veneta handbags. Sales climbed 2.7 percent to 2.72 billion euros ($3.07 billion), Paris-based Kering said in a statement after European markets closed Thursday. Analysts predicted 2.78 billion euros, […]

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Retail Asia14/03/2016

Swiss luxury watch and jewellery retailer Kirchhofer is up for sale, Reuters reports. The family owned company, with annual sales of about US$302 million, is thought to produce a net profit of around $60 million annually. Reuters reported that three independent sources confirmed Credit Suisse has been engaged to sell the business. Kirchhofer sells most […]

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Retail Asia19/02/2016

Italian luxury menswear brand Brioni has opened its first boutique in Cambodia, at the luxury Vattanac Capital Mall in the heart of Phnom Penh’s emerging business and financial district. It was launched with a private cocktail event featuring evening jackets from the Brioni archive and representing seven decades of the brand’s history. Covering 100 sqm, […]

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Retail Asia27/01/2016

With sales slipping in the industry’s largest market, the annual Watches & Wonders exhibition in Hong Kong may be cut back to every two years. High-end watchmakers are looking at a shift in strategy in Hong Kong in the face of the most severe downturn the industry has faced since the 2008-09 financial crisis, reports […]

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Retail Asia16/01/2016

Luxury retailer Louis Vuitton is suing three individuals in China for selling counterfeit items on Alibaba’s online shopping outlet Taobao. Damages of 250,000 RMB ($37,900) are being sought by the LVMH-owned company, says a statement on a Beijing court’s website uploaded yesterday. It says the suits are against a person surnamed Liang and two with […]

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Retail Asia27/11/2015

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China’s number 2 eCommerce player JD.com has axed its consumer to consumer online storePaipai.com in a bid, it says, to cut sales of counterfeit goods. The store will be closed by December 31 and after a transitional period of three months, the company will completely close down the website of Paipai.com. “The shutdown of the […]

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Retail Asia24/11/2015

Louis Vuitton is about to get smaller in China, and other luxury goods makers might follow as the heady days of expansion in that market are over. The French maker of monogrammed luggage is reviewing eight stores in second-tier cities, or about a fifth of the total in China, according to a source familiar with […]

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Retail Asia23/11/2015

French-headquartered luxury brand owner Kering has unsuccessfully sought to fast track its legal suit against Alibaba after what it considered “greatly troubling” comments by Jack Ma. Kering, which owns Gucci and Yves Saint Laurent among others, filed suit against the Chinese eCommerce giant in May after it considered more passive efforts to get Alibaba to […]

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Retail Asia07/08/2015

Retail rents in Hong Kong have long been among the most expensive in the world, but for years the high operating costs have been worthwhile. Luxury brands could capture not only the highly sophisticated local shoppers, but also mainland Chinese and other foreign tourists. That was, until recently. Sales have slowed markedly for luxury brands […]

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Retail Asia01/08/2015

Luxury international retail group Kering says it expects to be paying less rent in Hong Kong by the end of the year. Kering is the owner of a raft of luxury fashion brands, including Yves Saint Laurent, Bottega Veneta and Gucci, the latter of which comprises a third of its turnover. Kering says its global […]

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