Luca Solca News
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For luxury-goods maker Richemont, clothing and bags are going out of fashion.
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PPR SA reported first-quarter revenue that trailed analysts’ estimates as Gucci posted its weakest quarterly growth in more than three years amid a more volatile business climate in Europe.
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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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LVMH Moet Hennessy Louis Vuitton SA fell to the lowest in five months in Paris trading after saying weaker Asian demand contributed to the slowest growth in sales of fashion and leather products in more than three years.
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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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For decades, made-in-Asia luxury has been shorthand for “fake.” Now, companies from South Korean bag maker Couronne to Malaysian dressmaker Farah Khan are making a case for homegrown chic.
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Twenty members of Hermes International SCA ’s founding family opted against putting their shares in a new holding company, potentially offering an inroad for LVMH Moet Hennessy Louis Vuitton SA to build its stake.
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LVMH Moet Hennessy Louis Vuitton SA is poised to pursue a takeover as revenue growth, led by sales of its eponymous handbags, slows the most in four years.
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On the celebrated Place Vendome in Paris, the newest name in jewels is the world’s largest in bags.
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Giorgio Armani SpA struggled to win customers in the past quarter, contrasting with a surge in sales at luxury goods companies Hermes International SCA and Burberry Group Plc.
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