Antoine Belge News
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Louis Vuitton, which last month raised prices by an average 12 percent in Japan, has imposed similar increases on non-leather handbags in most of its main markets since the start of the year, according to HSBC.
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For decades, fashionistas have known that a Birkin bag is a safe style bet -- if you can get your hands on one. That demand makes its producer, Hermes International SCA, the surest bet in the luxury industry when it comes to sales growth.
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PPR SA plans to sell Redcats in pieces after failing to secure a buyer for all of the online retailer, according to two people with knowledge of the matter.
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Hermes International SCA stock is just like its $7,000 Birkin bags: expensive.
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European luxury-goods makers won’t be going out of fashion this year.
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Chinese tourists traveling to Europe to take advantage of savings as much as 50 percent on designer clothes and accessories are finding fewer bargains.
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The following companies’ shares may have unusual moves in European trading. Stock symbols are in parentheses and prices are from the last close.
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Hermes International SCA , the French maker of Birkin handbags and silk scarves, reported first- quarter sales that beat analysts’ estimates as wealthy consumers purchased more luxury watches and fragrances.
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Luxury-goods companies should brace for weaker growth in 2012 as Europe’s sovereign debt crisis leads to a slowdown in spending, according to Gianluca Brozzetti, chief executive officer for designer Roberto Cavalli.
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Tumi Holdings Inc., the luggage maker owned by Doughty Hanson & Co., surged more than 50 percent after raising $338 million in its initial public offering, pricing higher than the proposed range.
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