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 high-end jewelery on Tuesday with a dedicated store in Paris…
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 Friday, giving it a market capitalization of around $2.4 billion…
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 alternatives other than China for producing clothing, electronics and other…
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 would weigh on their results. FILE PHOTO: U.S. and Chinese…
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 on its remodeled stores and the popularity of its Hollister…
‘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 its sales of a slime-filled, poop-shaped toy purse for children,…
Lab-grown diamond prices slide as De Beers fights back
LONDON (Reuters) – Since De Beers abandoned its decades-old policy of refusing to sell lab-grown diamonds as jewelery, the price gap between man-made stones and natural gems has widened –…
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 its workforce, as part of the sportswear maker’s efforts to…
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 shirts, pants or pyjamas. FILE PHOTO: Traffic and people pass…
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 run for luxury goods firms, with some investors already put…