‘All my dreams are shattered’: coronavirus crushes Asia’s garment industry
YANGON/DHAKA/BANGKOK (Reuters) – Zarchi Lwin pawned her only two gold bangles for $140 when the owner of the Myanmar factory…
Spectacles group EssilorLuxottica to scrap dividend, cut costs
FILE PHOTO: Sunglasses from Ray Ban, a Luxottica owned brand, are on display at an optician shop in Hanau, Germany,…
Earnings volatility set to kick in as coronavirus worries mount
NEW YORK (Reuters) – Concerns over the outbreak of coronavirus from China have largely overshadowed corporate results, but the back…
China virus scare sends shudder through European luxury goods sector
MILAN (Reuters) – European luxury stocks slumped across the board on Tuesday on fears that the coronavirus virus outbreak in…
France’s LVMH close to buying Tiffany after sweetening offer: sources
(Reuters) – LVMH (LVMH.PA) is close to buying U.S. jewelry chain Tiffany & Co (TIF.N) for about $16.3 billion after…
Under Armour cuts revenue forecast; federal probe weighs on shares
(Reuters) – Under Armour Inc (UA.N) (UAA.N) on Monday cut its forecast for annual revenue for a second time this…
Nike’s first quarter shines as direct-to-consumer push gains momentum
(Reuters) – Nike Inc’s (NKE.N) quarterly revenue and profit beat market expectations on Tuesday as a push to sell sneakers…
Factbox: Tariffs in place or planned for nearly all goods traded by U.S. and China
(Reuters) – U.S. and Chinese trade negotiators are meeting in Washington this week to find ways to defuse a trade…
Vuitton to hire more French handbag makers as Chinese sales boom
BEAULIEU-SUR-LAYON, France (Reuters) – LVMH’s (LVMH.PA) Louis Vuitton brand will hire another 1,500 manufacturing staff in France by 2022, as…
Factbox: Next rounds of Trump’s tariffs on Chinese goods to hit consumers
(Reuters) – U.S. President Donald Trump’s next round of tariffs on Chinese imports is scheduled to take effect starting on…
Kering crown jewel Gucci banks on high-end gems for growth
PARIS (Reuters) – Gucci, the luxury brand that powers most of parent Kering’s (PRTP.PA) profits, made its first steps in…
Luxury online reseller The RealReal closes up more than 40% in debut
(Reuters) – Shares of U.S. online luxury reseller The RealReal Inc (REAL.O) closed up more 40% in their debut on…
U.S. firms say China tariffs will raise costs, see few sourcing alternatives
WASHINGTON (Reuters) – A wide range of U.S. companies told a hearing in Washington on Monday that they have few…
Factbox: U.S. companies warn Trump’s tariffs could hit results
(Reuters) – A host of U.S. consumer companies have warned that costs related to tariffs on goods imported from China…
Abercrombie expects redesigned stores to boost 2019 sales, shares surge
(Reuters) – Abercrombie & Fitch’s shares surged 20 percent after the apparel retailer forecast better-than-expected annual sales on Wednesday, betting…
‘Pooey Puitton’ purse said to irk Louis Vuitton, prompts lawsuit
(Reuters) – A California toy company has sued Louis Vuitton to stop the French luxury goods maker from interfering with…
Under Armour cuts 400 more jobs in turnaround push
(Reuters) – Under Armour Inc (UA.N) (UAA.N) said on Thursday it was cutting about 400 jobs, or 3 percent of…
Unilever confronts the ‘chairdrobe’ as consumers rethink laundry
LONDON (Reuters) – On any given day, the chair in Raven Rose’s Ewing, New Jersey, bedroom might be draped with…
Trade war threatens reign of luxury stocks
LONDON/PARIS (Reuters) – An escalating trade war between the United States and China could abruptly end a glittering stock market…
International fund managers turn to financials, tech as trade worries rise
NEW YORK (Reuters) – The rising tensions over global trade policy are prompting some top-performing international fund managers to look…