Thomas Chauvet

China to Cut Swiss Watch Import Duties in Free Trade Pact

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.

Richemont Says Full-Year Profit Rose 30% on Currencies

Cie. Financiere Richemont SA, the maker of Cartier jewelry and IWC watches, said full-year net income rose about 30 percent, more than analysts expected, as the dollar’s strength against the euro boosted sales growth.

LVMH `Playing a Waiting Game' for Hermes Takeover, Analysts Say

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.

LVMH Sees No Sign of Slowdown in Luxury After Profit Surpasses Estimates

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.

Burberry Surges as Retailer Forecasts Higher Profit After Revenue Advances

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.

LVMH Analysts Say Buy Shares on Cheap in Run-Up to Record Earnings Report

While Louis Vuitton bags never go on sale, investors may still have a chance to snap up LVMH Moet Hennessy Louis Vuitton SA ’s shares at a discount before the company reports earnings tomorrow.

PPR Third-Quarter Sales Beat Estimates on Asian Demand for Luxury Goods

PPR SA , the French owner of the Bottega Veneta luxury brand, said third-quarter sales rose 13 percent, beating analysts’ estimates, on increased demand for fashion and leather goods in Asia.

Cavalli CEO Says Europe’s Luxury Goods Market Is in Difficulty

Luxury goods makers may struggle this year in Europe as retailers reduce orders and local demand wilts, according to Gianluca Brozzetti, chief executive officer of fashion company Cavalli Group.

PPR Profit Beats Estimates on Luxury Sales

PPR SA, the French owner of the Gucci luxury brand and online fashion retailer Redcats, reported first-half profit that beat analysts’ estimates and said it expects to achieve better results this year than last.

Burberry Fiscal Fourth-Quarter Sales Beat Estimates on China

Burberry Group Plc , the U.K.’s largest luxury retailer, reported fiscal fourth-quarter sales that beat analysts’ estimates and confirmed that adjusted full- year profit will be near the top end of market expectations.

"Europe, Hong Kong and Macau are likely to remain Chinese consumers' preferred places of purchase for Swiss watches in our view due to lower retail prices, even after the cut in Chinese duties."

- Thomas Chauvet on May 28, 2013

London

China

Europe

France

Asian Futures Pace U.S. Lower as Kiwi Drops After Rates

Sony Outduels Microsoft in First PS4-Xbox One Skirmish

Metacapital in Worst Slide as Bloodbath Roils Funds

IBM Said to Start U.S. Job Cuts Today Amid Global Reduction

Obamacare Shows Hospital Savings as Patients Make Gains