German fashion house Escada lowered its full-year outlook for the third time this year and reported on Tuesday, September 23th a steep drop in third-quarter core profit, citing difficult market conditions.
Luxury goods group Richemont said it was well positioned to cope with the economic downturn as the rich still spent lavishly, but a softening in the United States weighed on its stock. By 0826 GMT (9:26 a.m.
French luxury group LVMH said Thursday September 4th it had appointed British designer Phoebe Philo creative director at the Celine luxury women's ready-to-wear label and Marco Gobbetti as its president and managing director.
Japanese apparel maker Onward Holdings Co said on Monday it bought unlisted Violine, a holding firm that has Jil Sander luxury brand under its wing, for 167 million euros ($244 million) to boost its overseas presence.
French retail and luxury group PPR confirmed its full-year outlook as it posted a first-half current operating profit slightly above forecasts, helped by the sparkling performance of its luxury arm Gucci.
The private art collection of French fashion designer Yves Saint Laurent and his partner, Pierre Berge, has been put up for auction and will be sold in February 2009, auction house Christie's said on Wednesday.