Furla SpA, the closely held Italian handbag maker, predicts its China sales will outpace the company’s this year as a rising middle class and government austerity drive benefit entry-level luxury goods.
Michael Kors Holdings Ltd., the luxury-goods company founded by the designer of the same name, surged the most in almost two years after posting profit that topped analysts’ estimates and raising its forecast.
Miky Lee, vice chairman of CJ Group, beams as she greets a visitor in the executive lounge of South Korea’s biggest purveyor of food, home-shopping services, TV programs and movies. Wearing a black top, charcoal leggings and midcalf Michael Kors sneakers, the 55-year-old granddaughter of Samsung Group’s founder shows no sign it’s been a traumatic few months.
U.S. stocks rose for the week, halting three straight drops for the Standard & Poor’s 500 Index, amid better-than-forecast earnings and optimism that economic growth is strong enough to weather stimulus cuts.
U.S. stocks advanced, with the Standard & Poor’s 500 Index rebounding from its biggest drop since June, as investors assessed corporate earnings and data showing factory orders fell less than estimated in December.
Linda Wells, founding editor-in- chief of Conde Nast’s Allure Magazine discusses New York Fashion Week hit shows and how a thriving beauty business has kept Allure magazine reaping advertising revenue even as other magazines failed to weather economic downturns. Wells also discusses the divergent performances of Michael Kors and Coach stocks and the incipient Marc Jacobs initial public offering. Wells speaks with Bloomberg’s Vonnie Quinn on Bloomberg Radio’s "The Hays Advantage."