With its classic trench coats and traditional totes, Burberry Group Plc isn’t often credited with setting fashion trends. Yet as the British luxury brand pushes into fragrances and cosmetics, it’s doing something few have done before: going it alone.
Bloomberg Markets’ inaugural list of the world’s richest people showcases the billionaires who pull the levers on the global economy. Their net worth totals $2.7 trillion, about the size of the gross domestic product of France, the fifth-biggest economy on the planet.
Giorgio Armani SpA , the Italian fashion company whose clothes are worn by celebrities including Angelina Jolie and Leonardo DiCaprio , said it opened its first stores in Mongolia and Vietnam as it seeks to tap Asian demand.
For years, fashion and luxury-goods companies have resisted putting creative and commercial control in one pair of hands. With the appointment of Christopher Bailey as chief executive officer, Burberry Group Plc aims to prove it can make the formula work.
Giorgio Armani SpA and other co- investors plan to spend $150 million on the construction of a luxury hotel in the Stavropol region of the Russian Caucasus mountains, Kommersant said today, citing real estate officials.
Giorgio Armani SpA, the Italian fashion company whose clothes are worn by celebrities including Gemma Arterton and Ricky Martin, said profit fell 28 percent last year because of the recession in North America and Japan.