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Showing results for LVMH Swiss Manufactures SA
...Spare a thought for 29-year-old Frédéric Arnault, chief executive of Swiss sports watch brand TAG Heuer and fourth child of LVMH’s Bernard Arnault; he can’t even go to a party without rumours circulating...
...At LVMH, two more of French billionaire Bernard Arnault’s children joined the board this month while a grandson of François Pinault, another French billionaire and patriarch of the family behind luxury group...
...Although Kering has sought acquisitions in the past, including failed talks with Swiss group Richemont, there are few suitable targets in luxury fashion or leather goods....
...German perfume retailer Douglas’ March listing flopped, while Swiss skincare company Galderma’s shares surged following its market debut that same month. Additional reporting by Adrienne Klasa...
...The company continues to manufacture products for the L’Occitane brand at its home base in Manosque, in France’s Provence region, but has been listed in Hong Kong since 2010....
...Luxury executives gathered in Miami in January for LVMH’s annual watch fair, to inspect timepieces from Hublot’s bright green Big Bang model to TAG Heuer’s new creation encrusted with lab-grown diamonds....
...He joins the LVMH-owned brand from Richemont’s Panerai, where he was chief commercial officer....
...The contrasting outlooks for different segments of the luxury industry were on display in early results reported in recent weeks by Swiss luxury group Richemont, owner of jeweller Cartier; high-end Italian...
...Rival luxury groups were also under pressure, with Paris-listed LVMH and Kering both falling around 4 per cent....
...The company, which manufactures materials like glass for skyscrapers and soundproofing materials, has been making dozens of disposals in less profitable divisions or countries....
...Richemont chair Johann Rupert, who controls the Swiss group, reiterated that the company was not for sale, after a Swiss news outlet reported “whispers” that France’s LVMH had set its sights on acquiring...
...French rival LVMH has supported culture and the arts for more than 25 years....
...Many brands would like to take Cartier’s crown, LVMH’s Tiffany among them....
...Shares in Richemont have risen about 11 per cent since early December, while sector leader LVMH is up 10 per cent and Hermes 6 per cent....
...Shares in the group were down about 0.5 per cent in mid-day trading, largely in line with the Swiss market....
...We are a manufacture, with a very high level of craftsmanship. We can’t just press a button and produce more.”...
...The LVMH-owned brand Zenith has a similar commitment to preserving the past, despite a blip during the early 1970s when its then owner — Chicago’s Zenith Radio Company — attempted to dump much of the manufacture...
...They contend that Richemont, whose biggest brands are Cartier and Van Cleef & Arpels, has underperformed peers such as LVMH and Hermès and has been hurt by poor governance and strategic choices, such as...
...Richemont argued he was too closely associated with LVMH....
...“There is no need to change our board, neither legally nor morally,” Rupert told a Swiss business paper. “I am not going to give in to coercion.”...
...Rabe challenges traditional antitrust rules ITA’s takeover meets political headwinds Bluebell vs Richemont’s ‘padre-padrone’ Annual shareholder meetings are often dull affairs, but the upcoming one at Swiss...
...Rupert slammed the proposal in a letter to shareholders earlier this month, calling Trapani an “inappropriate candidate” given his close ties to Richemont’s key rival LVMH....
...Biver subsequently took a 20 per cent stake in the ailing firm, assumed full control over its restructuring and, at the Swiss Baselworld trade show in 2005, pulled the wraps of the all-new Big Bang, a large...
...Morgan Stanley’s data placed Breitling 11th among Swiss watch brands, up two places from 2019 and above rivals such as Tudor, which is owned by Rolex, and LVMH-owned Hublot....
...“The Full Strike and now the Full Strike Sapphire put us in a league of very few manufactures able to produce and design such a movement,” he says....
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