Hints and tips:
...In 2021, the buyout group moved its holding in CAA into a new fund backed by three large investors as an alternative to a listing or a full sale....
...Luxury group Tapestry cut its full-year sales outlook on weak demand, just months after it agreed an $8.5bn deal for the owner of Versace and Michael Kors....
...US groups have long trailed the two fashion conglomerates, which through deft marketing and acquisitions of brands such as Christian Dior, Balenciaga and Saint Laurent, have come to dominate sales of luxury...
...They make up a huge proportion of global luxury sales....
...TPG had been willing to hold CAA for longer and had not hired advisers to lead a sale process, according to people familiar with the details....
...“A project that would take six months will now take 12,” said Brett Harris, executive director of luxury sales at real estate firm Douglas Elliman....
...Smart reads China exit Wealthy Chinese are moving billions of dollars out of the country by buying everything from overseas luxury apartments to insurance policies and gold bars amid growing concerns about...
...Lourd was a key intermediary in bringing Pinault’s interest in the agency to TPG, which hadn’t been actively pursuing a sale....
...Administrators AlixPartners noted that while sales had recovered along the retail rebound in 2021 following pandemic lockdowns, the group’s liquidity had been hit by investments to improve its supply chain...
...The latest sale, advised by Rothschild on Mayhoola’s side and Centerview on Kering’s, gives Pinault’s growing empire a slice of a heritage brand lauded as the fastest-growing luxury company from 2013 to...
...Alongside Arm, they’re handling the potential sale of the English football club Manchester United....
...The US luxury market is still recovering, with the latest sales at conglomerates including LVMH, Kering and Tapestry yet to improve or growing at a clipped pace....
...Sales across the luxury market have softened, as consumer spending normalised following the pandemic. That’s meant sales have slowed for many brands, including Michael Kors....
...There should also be clues on the health of higher-end spenders, with quarterly results from luxury apparel retailer Ralph Lauren out before the opening bell....
...Luxury goods companies are a notable exception. Tapestry, owner of the Coach and Kate Spade brands, reported a quarterly 20 per cent jump in China sales on Thursday....
...Rising inflation, geopolitical ructions and a squeeze on the cost of living has done little to dent the rise of luxury’s top players, though some companies more reliant on mid-market consumers such as Coach...
...Like other accessible luxury brands with a US focus such as Coach, the pace of growth slowed in the first quarter at the purveyor of luxe Americana....
...Companies including RH have pointed to a luxury housing market that has been weakened by rising interest rates....
...Inner Circle is also running the sale process for the Chicago Red Stars, a team whose previous ownership was forced out amid the 2021 systemic abuse scandal....
...Tapestry, the parent company of luxury brands Coach and Kate Spade, cut its full year sales forecast because of the strong dollar and softer consumer demand in China and North America....
...After she did so, that party dropped out of the sale process, according to the JPM complaint....
...Retail sales fell by 1.1 per cent in December. The 3-month/10-year yield curve remains very much inverted. Etc etc, ad nauseam....
...Meta yesterday reported a return to sales growth after three quarters of decline, sending its shares 12 per cent higher in after-market trading....
...Salesforce spent much of the past decade as one of the best-performing stocks in the valley as sales of its software soared....
...Marfa Stance, Métier, Coccinelle, Aspinal and Coach all have clever, spacious bags. Your very last layer is a fine cashmere scarf — one that will roll up nicely....
International Edition