Investment group Windsong Brands and the development office of Marvin Traub Associates have formed Falchi Holding, an entity that has taken over the rights for Carlos Falchi handbags, which could soon expand its domain beyond leather goods.
Bulgari shares tumbled 6.2% by the evening of Wednesday 13 May, to €3.8925. The Italian group has been sanctioned by investors for its first quarterly loss in ten years after the announcement at the end of the evening.
Hermes proved again it was resisting the crisis better than many of its rivals by posting a 3.2 percent rise in first-quarter sales on Thursday 7 May, helped by resilient demand for handbags and silk scarves.
Rumours about the influx of new capital from a large group or investment fund have come to an end. De Grisogono will with Fawaz Gruosi, the founder, who will hold 49%, whilst 40% will be ceded to “a pool of investors, composed of friends and family”.
Rena Dumas, the wife of Jean-Louis Dumas – former president of Hermès, passed away as a result of cancer on the 27th of April in Paris. She had notably been responsible for the interior design of more than three hundred luxury stores and leaves unique, modern and sensible handiwork .
At the same time as the deployment of online shopping, Hermès is considering necessary technology adaptations to sell on internet capable “smart phones”. “The technology is developing very quickly. We must take advantage," explained Charles Henri Leroy, director of client relations.
A booming market in counterfeit goods racked up sales of 7.1 billion euros in Italy last year, undermining high-end fashion brands and prized food products that Italy's economy thrives on, a study showed on Wednesday 22 April.
Coach Inc reported a lower quarterly profit on Tuesday 21 April as consumers cut back on discretionary purchases, but the U.S. handbag and accessories maker said sales were stabilizing at its North American stores, and it initiated a quarterly cash dividend.
The European Council has adopted a new plan of action for customs offices fighting counterfeiting - a phenomenon which now effects every industry. The plan aims to “protect the health and security of our citizens, as well as protecting innovation; economic activity, competition and jobs”.