Deckers Outdoor Corp said its chief financial officer resigned to pursue other opportunities. The footwear maker's shares fell about 7 percent to $45, before recovering most of their losses to trade down 5 cents at $48.
The directors of Mariella Burani Fashion Group Plc and Antichi Pellettieri Plc met on the 13th of March to finalise talks on the two companies merging with the objective of simplifying the group’s structure.
Staff learnt on Wednesday March 18 that the crystal glassworks Lalique, taken over a year ago by the Swiss group Art & Fragrance, is closing its site in Combs-la-Ville (Seine-et-Marne) and focusing on its activities in Wingen-Sur-Moder in the Rhine basin.
Whilst the rumours concerning the replacement of Kris Van Assche by Gareth Pugh at Dior Homme have been flying around, the ones surrounding the departure of Olivier Theyskens have been officially ended.
Swatch Group, the world's largest watchmaker, said on March 18th that Chief Financial Officer Edgar Geiser would step down from his role during 2009 for personal reasons and will be replaced by Thierry Kenel.
Italian clothing retailer Benetton will cut its dividend by 30 percent to 0.28 euros per share for 2008, it said on March 18th, joining many companies trying to save cash in the current market turmoil.
Nicolas Boulanger, department manager for Eurostaf, believes that the devolpment of the luxury market in 2009 must be at a constant level between zero and 5%, a decrease of 8 points compared to 2003 – an historically tough year for the sector.