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...Strong demand for its exclusive handbags drove revenues at French luxury group Hermès up by 17 per cent in the first three months of 2024, defying a wider slowdown in luxury sales....
...One fewer handbag maker will be negative for everyone other than shareholders of the acquirer. But to make its case, the FTC defines a specific market of “accessible luxury.”...
...The group has more customers for its £10,000 handbags than it actually produces....
...MainFT, last night: The Federal Trade Commission has sued to block US luxury goods group Tapestry’s $8.5bn acquisition of Capri Holdings, a move that threatens a bid to create a US rival to European giants...
...A tie-up would give Tapestry a dominant slice of what the company has identified as the “accessible luxury” handbag market, the FTC said....
...French luxury company Hermès showed resilience amid a slowdown in the luxury sector, carried by high demand for its handbags and strong growth in ready-to-wear fashion....
...LVMH, the world’s biggest luxury company with a complex business spanning fashion house Christian Dior to hotels and vineyards, ticked up 3 per cent as demand for its fashion and handbags softened and champagne...
...French luxury group Hermès defied slowing sales in the luxury sector to deliver 17 per cent growth in the first three months of 2024 carried by strong demand for its exclusive handbags....
...Luxury handbags are not just for Christmas. They can be something of an investment piece, too. Some hold much of their value in the second-hand market. A few even exceed it....
...FTC tries to prevent ‘accessible luxury’ dominance The US Federal Trade Commission is cracking down on Big Purse....
...French luxury group Hermès showed resilience amid a slowdown in the luxury sector, carried by high demand for its coveted handbags and strong growth in ready-to-wear fashion....
...Global sales of handbags and perfumes made by LVMH account for a larger share of France’s exports than all of the Camembert and wine produced by the country’s famed agricultural sector....
...Hermès, the maker of Birkin handbags, has said it will raise prices by 8-9 per cent this year globally, up from 7 per cent in 2023....
...Belloni, who has worked at Arnault’s side for 23 years as he built LVMH into the world’s biggest luxury conglomerate spanning handbags to hotels, will in April relinquish his positions of group managing...
...Luxury’s biggest groups, such as Richemont, LVMH and Hermès, are expected to widen their lead on weaker competitors as the world’s wealthiest splash out on the highest priced handbags and jewellery....
...A political furore over a luxury handbag gifted to South Korea’s first lady caused a rupture at the top of the country’s ruling party this week, drawing accusations of abuse of power less than three months...
...Overlaying these issues is a sector-wide slowdown in luxury after the end of a pandemic-era boom when shoppers armed with stimulus checks indulged in designer handbags and clothing....
...It caters to a more middle-market customer than the uber-wealthy queueing for a Hermes handbag. That makes it more vulnerable in a squeeze....
...Police also seized assets including luxury properties, cars, designer handbags, gold bars, cash and cryptocurrency in raids across the city....
...My colleague Adrienne Klasa has written on the diverging fortunes in the luxury market. The mega brands with their €800 sneakers and €8,000 handbags will endure....
...Luca Solca, a luxury analyst at Bernstein, said that Burberry was also struggling with its attempts to “price up” with offerings such as its new handbag collection at a time when consumers have less of an...
...Authorities also seized luxury cars, designer watches, handbags and expensive wine as well as cash and gold bars....
...In the 10 years from 2013 to 2022, watches outperformed other collectible assets such as jewellery, handbags, wine, art and furniture, growing in value at an average annual rate of 7 per cent — and by 27...
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