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...A neighbouring location was also purchased by the family’s holding company....
...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...
...Will Lina Khan be left holding the bag? On Monday, the US Federal Trade Commission sued to block Tapestry’s $8.5bn acquisition of rival Capri Holdings. The pair are best known for their handbag brands....
...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 LVMH and Kering....
...At Kering, stripping out Gucci’s performance suggests that smaller brands such as Bottega Veneta and Saint Laurent are holding up better....
...In addition to housing the controlling stake in luxury group Kering and the family’s art collection, Artémis also has investments in sports apparel brand Puma, vineyards, luxury fashion brands Courrèges...
...At the end of last year, the Pinault family’s holding company, Artémis, which has a controlling stake in luxury group Kering, acquired 53 per cent of Creative Artists Agency, one of the world’s biggest entertainment...
...That triggered the holding company’s default. The more than £16bn worth of Thames Water bonds sitting below the holding company are part of a so-called whole business securitisation....
...Accor is also launching luxury hotels and trains under the Orient Express brand....
...South Korea has become one of the most important markets for European carmakers, ranking among the top three Asia markets for global luxury brands with about 34,000 cars priced at more than Won150mn ($108,000...
...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....
...French luxury group LVMH is venturing into the world of Hollywood entertainment as it seeks to market the group’s 75 brands through movies and television....
...It is holding on to its ambition of becoming a £4bn revenue company, up from last year’s £3bn. But its troubles do not bode well for other brands seeking to reposition themselves....
...Three of the five children have been appointed to new roles within the group and its holding companies since the start of 2023, including Delphine’s appointment to head Dior, the group’s second-biggest brand...
...The share prices of Geely units Volvo, EV brand Polestar, Lotus Technology and ECARX are down an average 60 per cent since their listings....
...“No diversified luxury brand has this distinctive connection to the culture of writing and has played such an important part in its evolution over the past 115 years.”...
...Blackstone has also recently moved to add to its own luxury retail holdings. It is in talks to buy a £230mn property on London’s New Bond Street....
...While athleisure wear is seen as more resilient than luxury wear, it is not immune to economic headwinds....
...Unilever on Tuesday announced it was divesting its ice cream business that includes brands such as Magnum, Wall’s — and the controversial Ben & Jerry’s....
...— has restructuring experience and specialises in consumer brands....
...Almost all leading brands that Macy’s carries want to sell directly to consumers these days....
...Jefferies chief executive Rich Handler has sold $65mn of his stock in the Wall Street investment bank to buy a luxury yacht from longtime client Tilman Fertitta....
...“The large PBMs make money every step of the way when they stick with the brand and it will take a lot to shake them from that mindset.”...
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