LONDON — Despite slowing sales growth, Richemont is weathering luxury’s challenges better than some of its peers, with chairman Johann Rupert focusing on the long-term management of the business and looking forward to an eventual rebound in consumer confidence, especially in China. “The Chinese will return — I have full confidence. There’s nothing wrong with … Read more
LONDON – Slowing demand for luxury goods hampered Compagnie Financière’s Richemont’s growth in the fiscal fourth quarter and full year. In the fourth quarter, the watches and jewelry giant posted a 1 percent decline in sales at actual rates, and a 3 percent rise in full-year sales to 20.62 billion euros. At constant exchange, fourth-quarter sales … Read more
Updated 4:46 p.m. ET May 10. Mytheresa is working with investment bankers on two fronts, sources told WWD — pitching investors on a buyout that would take the company private, and looking at acquiring Net-a-porter. A buyout would let the Munich-based Mytheresa rev up its operations away from the glare of Wall Street. And acquiring … Read more
LONDON — Luxury is getting a little louder, but it’s the accessories, not the clothes, doing the talking. In their fall 2024 seasonal report, Net-a-porter’s buying director Kate Benson and market director Libby Page offered an update on what’s been selling so far this year, and where they put their money for fall. With the … Read more
LONDON – Richemont has added another jeweler to its burgeoning portfolio with the acquisition of the Italian brand Vhernier. The luxury giant, parent of brands including Cartier and Van Cleef & Arpels, said Tuesday that it has acquired 100 percent of Vhernier in a private transaction. Vhernier was founded in Valenza, Italy as a goldsmith’s … Read more
Don’t be surprised if you step inside the new Montblanc pop-up store in Beverly Hills and feel like you’ve entered a Wes Anderson film set in a remote mountain chalet. The Wes Anderson vibe is intentional. The quirky Hollywood director and writer was tapped to help Montblanc celebrate the 100th anniversary of its Meisterstück, the … Read more
THE WRITE STUFF: Celebrating the centenary of its emblematic Meisterstück pen, Montblanc has tapped Wes Anderson, a filmmaker gifted in conveying a pleasing retro aesthetic via his studied use of symmetry, corduroy and saturated colors. The new campaign film, written and directed by the famous American auteur, breaks Wednesday on Montblanc’s digital channels and via … Read more
José Neves was always astute as a dealmaker — making one fashion connection after another as he built Farfetch up from a Great Recession start-up to a luxury platform. Along the way, Neves, who leads the company as founder, chairman and chief executive officer, cut deals with Compagnie Financière Richemont, Alibaba, Neiman Marcus Group, the … Read more
