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The Latest Breaking News from Luca Solca

Chanel might hold off dividend payment for 2024 as profits tumble by 30%

The French tweed suit maker saw revenues and operating profits fall 4.3% and 30%, respectively, in 2024.

Fortune

LVMH sales slip 3% as luxury shoppers come face-to-face with tariff uncertainty

LVMH CFO Cécile Cabanis said, “Aspirational clientele is always more vulnerable in less positive economic cycles.”

Fortune

Kering's shares tumble 10% as investors mull over Gucci's new artistic director. But the 'iconoclast' might be what the brand needs

“Demna has a strong viewpoint ... which is the secret sauce for a brand like Gucci,” Bernstein SG analyst Luca Solca said.

Fortune

From analysis to the latest developments in health,
read the most diverse news in one place.

Prada posts double-digit growth in 2024 as it eyes Versace acquisition

The Prada Group has posted double-digit growth for the fourth consecutive year, bucking the luxury sector slide amid talk of a possible Versace acquisition

The Independent UK

Kering hoped a big turnaround would save its flagship brands. With Gucci’s creative director gone, is the revival already unraveling?

Turning Gucci around is crucial to Kering as it “can no longer afford to get it wrong,” an expert told Fortune.

Fortune

Can Burberry fix its tattered image after chequered patch?

The fashion brand is set to leave the FTSE 100 after a rapid fall in value and status, but some think it can rise again

The Guardian - UK

Bernard Arnault has been dubbed the Olympics' godfather. Here's how he built LVMH's fortune

These may be the most luxurious Olympics ever

The Independent UK

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Watches of Switzerland shares dive by a third after revenues warning

UK’s biggest Rolex and Omega seller becomes latest luxury retailer to be hit by switch in spending by aspirational shoppers

The Guardian - UK

Luxury London: Various sectors and companies concerned about tourist tax

Helen Brocklebank has no doubts about the capital’s status on the global luxury stage. “London is unbeatable,” she says simply.

Evening Standard

Gucci Hits Runway as Fashion World Awaits New Designer

Gucci kicked off Milan fashion week on Friday with a lineup of slouchy, androgynous menswear styles, forging ahead with its latest collection while the industry waits for owner Kering to name a new designer for the label. French luxury group Kering faces pressure to quickly find a replacement following the…

Asharq Al-Awsat

Hermes Q1 Sales Rise 27% at Constant Exchange Rate

Sales at Birkin bag maker Hermes beat estimates in the first quarter, lifted by strong appetite for its luxury accessories, particularly in the United States and Europe, as the sector powers through turbulence from the war in Ukraine and COVID lockdowns in China. The French luxury group said revenues at…

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