Prada SpA, the Italian owner of the Miu Miu and Church’s luxury brands, said the euro’s strength will weigh more heavily on full-year earnings than some analysts anticipate after first-half profit missed estimates.
LVMH Moet Hennessy Louis Vuitton SA agreed to pay 2 billion euros ($2.57 billion) for 80 percent of Italian cashmere clothier Loro Piana SpA, adding a high-quality textile producer to its burgeoning portfolio of luxury brands.
China agreed to cut import tariffs on Swiss watches by 60 percent in 10 years as the two nations seek to expand trade, a move that may boost sales by retailers such as Hong Kong-based Hengdeli Holdings Ltd.
LVMH Moet Hennessy Louis Vuitton SA, the maker of Celine handbags and TAG Heuer watches, sees no sign of a slowdown in demand for luxury goods after reporting first- half profit that beat analysts’ estimates.
LVMH Moet Hennessy Louis Vuitton SA said it’s not seeking a takeover of Hermes International SCA after agreeing to buy a 17.1 percent stake for 1.45 billion euros ($2 billion). Analysts aren’t convinced.
Burberry Group Plc , the U.K.’s largest luxury retailer, surged in London trading after reporting that three-month sales rose 27 percent and saying that adjusted full-year profit will exceed its previous estimate.