LONDON — European markets closed lower on Friday as investors assessed the global IT outage linked to issues at cybersecurity firm CrowdStrike persisted. The pan-European Stoxx 600 index closed 0.77% lower as travel — one of the sectors most affected — tumbled 2.07%. European markets have retreated throughout the week, with the Stoxx 600 closing … Read more
In the world of luxury, Hermès is arguably the gold standard. Its sales are growing double digits even as other luxury companies post declines or dramatically slower growth. Wealthy customers lucky enough to be anointed as Birkin-bag worthy can purchase a Birkin 25 for about $11,000 and flip it the same day for more than $23,000. … Read more
A Gucci store at Harbour City shopping mall, operated by Wharf Holdings Ltd., in Hong Kong, China, on Friday, June 2, 2023. Bloomberg | Getty Images Shares of French luxury group Kering plunged 14% on Tuesday after the company warned that Gucci sales look set to fall 20% year-on-year in the first quarter, amid declining … Read more
Balint Porneczi/Bloomberg | Getty Images LONDON — L’Oreal shares fell more than 7.3% in early deals Friday, before slightly paring losses, as the company reported lower-than-expected sales and pointed to a slowdown in demand in Asia. Shares of the stock had recovered slightly to trade down by 5% at 10:40 a.m. London time. The world’s … Read more
VIENNA, AUSTRIA – NOVEMBER 25, 2022: Karin Teigl is seen wearing Hermès yellow leather mini Kelly, Baum & Pferdgarten green leather jacket, Lumina beige cropped turtleneck sweater and vintage checked green yellow pants. Jeremy Moeller | Getty Images Quiet luxury was one of last year’s biggest viral fashion trends on social media — but unlike … Read more
