Fashion designer Giorgio Armani is taking direct control of his sales business in Britain to improve efficiency in the retail sector, which has become a revenue-spinner for luxury makers amid economic turmoil.
The French markets watchdog AMF's sanctions committee will examine whether to impose sanctions on luxury company LVMH for its stake-building in rival Hermes in early 2013, the AMF's head told BFM Business radio on Monday.
Swatch Group will have to work hard to achieve its goal of increasing sales this year to 8 billion Swiss francs ($8.50 billion) from last year's record high of 7 billion, its chief executive told Reuters on Thursday.
Luxury brands banking on a China rebound to boost sales may be in for an unpleasant surprise: weak demand in the world's second largest luxury market may last longer than the economic slowdown as Beijing cracks down on conspicuous consumption.
Adidas slashed its 2015 sales target for its struggling Reebok brand to 2 billion euros ($2.6 billion) from 3 billion euros after losing a major American football contract and fraud was discovered at its Indian operation.
Britain's JD Sports Fashion reported an expected 82 percent drop in first half pretax profit as operating losses from its Blacks Leisure acquisition weighed on the group, but said it remained well positioned to hit full-year targets.