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The Latest Breaking News from LVMH

Hermès Billionaire Decides To Leave His Fortune To Former Gardener

Nicolas Puech has already initiated legal proceedings for the same.

International Business Times UK

Hermès heir plans to adopt 51-year-old gardener to pass on $11 billion fortune

Nicolas Puech, who is unmarried and childless, is a fifth-generation heir of Thierry Hermès, who founded the luxury fashion house in 1837.

Fortune

Fashion Power 100 revealed: the hottest industry style players ranked

From designer heavyweights to industry titans and trending ingenues, the Standard has ranked the style world’s most significant figures of 2023 from one to 100

Evening Standard

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Luxury property billionaire might have seen his fortune become completely worthless overnight after his firm filed for insolvency

Billionaire real estate mogul Benko has reportedly been trying to sell his yacht amid the collapse of his property empire.

Fortune

Twelve billionaires’ climate emissions outpollute 2.1m homes, analysis finds

Research shows impact from lifestyles and investments of likes of Jeff Bezos, Bill Gates and Elon Musk

The Guardian - UK

Burberry joins LVMH and Gucci in the luxury slump as brand says it may miss its revenue target for the year

Burberry's half-year sales inched up just a little, pointing to a luxury downturn that its rivals like LVMH and Kering have been experiencing.

Fortune

Sephora UK's Pauline Dolle-Labbe on the new Stratford store and how the beauty giant is doing in London

Sephora in March launched its first UK physical store since exiting its last ones here by 2005, and now a second London shop will open

Evening Standard

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Prices of high-end Rolex and Patek Philippe watches hit a 2-year low as luxury slump spreads beyond LVMH and Gucci

Pre-owned luxury watches saw a surge in demand during COVID-19—but there's been a sharp reversal since.

Fortune

Phoebe Philo's fashion frenzy: why her much-anticipated collection sold out within hours

British luxury fashion designer Phoebe Philo OBE, debuted her long-anticipated eponymous label to critical acclaim at the end of October. Despite the eye-watering price tags, the small range of clothing, accessories, jewellery and footwear – only available on the Phoebe Philo website – virtually sold out within hours.

The Conversation

Cartier owner Richemont sales disappoint as economic pressures start to pinch even the rich

Luxury giants including Richemont and LVMH are seeing a slump in sales after a high-end spending boom during the COVID-19 pandemic.

Fortune

LVMH strikes sunglasses deal targeting entry-level shoppers as luxury spending slows down

LVMH plans to expand eyewear brand Barton Perreira beyond the U.S.—starting with Europe.

Fortune

The perfect fit: how sport and fashion became a dream team

Gucci tennis bags at Wimbledon, Arsenal stars on Burberry’s front row … the link between the stadium and the catwalk is closer than ever

The Guardian - UK

Luxury shoppers are buying less Balenciaga and Gucci, in latest signs of an end to the ‘roaring 20s’

Economic pressures have added to the list of challenges faced by the luxury giant behind Gucci and Yves Saint Laurent.

Fortune

‘Hallelujah!’ the wait for Phoebe Philo’s comeback is almost over

The wait for her latest creations has only added to the mysteries of the woman who made Céline a talismanic name

The Guardian - UK

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Fortune

LVMH boss Bernard Arnault has just lost his spot as the world’s second-richest person to Amazon founder Jeff Bezos

LVMH CEO Bernard Arnault has seen his wealth overtaken by that of Amazon founder Jeff Bezos.

Fortune

Birkenstock tripped over its own sandals trying to take a step in the IPO world

Over its 250-year history, Birkenstocks have endured wars, fashion revolutions and more—but can they endure the IPO market?

Barchart

LVMH Stock: Is the Luxury Retailer a Value Play After Earnings?

LVMH stock looks like a cheap option as the firm comes off a muted second quarter.

The Times of India

'Birkenstock IPO leaves no room for wardrobe malfunction'

In the end, Birkenstock Holding Plc couldn’t quite put its best foot forward.

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news in one place.

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The Guardian - UK

The AI revolution is coming. Invest in $10,000 handbags

Analysis shows LVMH, Dior, Hermès and Gucci owner Kering have consistently outperformed Amazon, Google and Apple

Fortune

Bernard Arnault, the world's second richest man, may be seeing the end of his winning streak as luxury shoppers bolt for the first time in years

LVMH boss Bernard Arnault's wealth topped $200 billion in April surpassing Elon Musk as luxury industry made big gains—but the tide may now be turning.

Evening Standard

Luxury goods giant LVMH’s shares fall on slower sales growth update

Shares in LVMH fell this morning after investors reacted to the Paris-listed luxury goods powerhouse recording slower sales.

The Guardian - UK

LVMH hit by growth slowdown amid fall in demand for high-end drinks

Rising inflation and global instability also blamed for fall in revenue growth in third quarter

The Guardian - UK

Flights begin taking off from Luton airport again after fire, as officials suggest blaze accidental – as it happened

Birkenstock to float in New York with market value of $8.6bn (£7bn), as IMF/World Bank hold annual meetings in MarrakechLuton airport closed and flights suspended after huge fire in car park

Fortune

European luxury stocks may not have shaken off the impact of economic pressures just yet as a key index that tracks the top 10 luxury stocks declined the most in a quarter since 2020

The luxury stock index, which includes LVMH, Ferrari and Richemont, is under pressure due to tighter consumer spending globally—especially in China.

Fortune

World’s second richest man LVMH's Bernard Arnault under investigation in Paris over connections to Russian oligarch

French prosecutors said the investigation has been underway since 2022. Bernard Arnault's lawyers said money-laundering allegations linking to Nikolai Sarkisov were "absurd and groundless."

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