Inditex, owner of global fashion chain Zara, reported a 15 percent drop in first-quarter net profit on Wednesday 10 June due to the difficult economic environment, despite a rise in sales.
The world's second-largest sports goods maker Adidas plans to keep marketing spending stable despite the global downturn, contrasting moves at bigger rival Nike.
Luxury groups are turning to films, the Internet and private dinners to attract customers as they search for more cost-effective ways to advertise to fight falling sales.
Upscale jeweler Tiffany & Co would have to see at least a five percentage point improvement in U.S. same-store sales in order to call business better, as jewelry remains one of the trickiest things to sell in the recession.
Bahrain's Investcorp said on Tuesday 9 June it planned to buy stakes in homegrown Middle Eastern luxury goods companies as part of a wider plan to invest $650 million in the region in the next two years.
Independent watch and jewelry maker Chopard saw a slight pickup in demand in May and is hoping to end the year with sales down just a tenth.
Leather goods specialist ‘Le Tanneur’ plans to increases its capital by €2.8 million through the sale of new shares at €1 apiece. These shares will be on sale between the 10th and the 24th of June.
The board of Safilo Group, one of the world's biggest eyewear makers, will meet in coming days to review two offers from private equity firms for a stake in the company.
For the 2008/2009 financial year, which finished on the 31st of March 2009, Tommy Hilfiger has seen encouraging results. Net sales at the group reached €1.6 billion, an increase of some 21% year-on-year. This performance is in part due to the development strategy of the group.
Dubai's Rivoli Group is looking to enter India and Saudi Arabia this year to help mitigate a drop in luxury sales, but will maintain a "prudent" expansion plan amid the financial crisis.
Hublot sees flat to slightly negative sales in 2009 and plans to expand its foothold in Europe and China, the Swiss watchmaker owned by luxury goods giant LVMH said.
Sales of luxury goods in Dubai have dropped about 45 percent since the global economic crisis prompted local shoppers to tighten their purse strings and tourists to rethink spending sprees, a top retailer said.
Global sales of luxury goods will likely fall again in 2010 but return to growth in 2011, an industry expert said on Monday 8 June.
Shares of G-III Apparel Group Ltd rose as much as 16 percent on Thursday 4 June, a day after the clothing maker posted better-than-expected first-quarter results on strength at its dress and sportswear businesses.
Ulta Salon, Cosmetics & Fragrance Inc posted better-than-expected quarterly results as traffic rose, and forecast second-quarter results in line with market estimates.
