A Gucci store, operated by Kering SA, in the Sanlitun area of Beijing, China, on Saturday, Oct. 12, 2024. Bloomberg | Bloomberg | Getty ImagesFrench luxury goods firm Kering on Tuesday reported better-than-expected fourth-quarter sales that were nevertheless down year-on-year amid lagging demand for its main Gucci label.The high-end fashion group,...
Category: Wealth
LVMH watch and jewelry CEOs see luxury sales picking up in 2025
After a year of declines, sales of watches and jewelry at luxury giant LVMH rebounded in the latest quarter and continued to shine into January, according to several of the company's brand CEOs.In its earnings call this week, LVMH reported that sales for its watches and jewelry group increased 3%,...
World’s largest luxury group LVMH posts better than feared full-year sales
A Louis Vuitton storefront in San Diego, California.Kevin Carter | Getty Images News | Getty ImagesThe world's largest luxury company LVMH on Tuesday reported better-than-expected full-year sales, in the strongest sign yet of a potential turnaround in the high-end sector.The owner of brands including Louis Vuitton, Moët & Chandon and...
Mystery around top-ranked Rockefeller book grows as university publisher denies involvement
A print copy of "The 38 Letters from J.D. Rockefeller to his son: Perspective, Ideology and Wisdom" purchased on Amazon.CNBCThe mystery around a top-selling Amazon book attributed to John D. Rockefeller has grown to include a university publisher, which denies any involvement in the book despite being listed as its...
Shares of Cartier owner Richemont jump 16% as sales rise in December quarter
Shoppers pass a Cartier luxury store, operated by Cie. Financiere Richemont SA, in the Galeries Lafayette SA luxury department store in Paris, France.Bloomberg | Bloomberg | Getty ImagesShares of Cartier owner Richemont jumped on Thursday after the luxury group reported a 10% increase in fiscal third-quarter sales even as China...