Hyatt to double presence in the Middle East

Hyatt Hotels Corporation announced plans to expand Hyatt’s brand footprint in the Middle East and Gulf Cooperation Council (GCC) with the signing of management agreements by a Hyatt affiliate for 14 Hyatt-branded hotels across the Park Hyatt, Grand Hyatt, Hyatt Regency, Hyatt Centric, Hyatt Place, and Hyatt House brands. There are currently 14 Hyatt-branded hotels open in the Middle East and GCC, and the expected openings of these 14 Hyatt-branded hotels would double Hyatt’s brand presence in the region within the next few years. Park Hyatt Riyadh will be located on [...]

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PUMA first quarter sales jump 15.4 percent

Puma reported that first-quarter sales jumpe a currency-adjusted 15.4 percent to 1 billion euros ($1.09 billion), while net profit almost doubled to 49.6 million. Puma said sales rose a currency-adjusted 17 percent in the Americas and 15.9 percent in Europe, Middle East and Africa, with footwear sales up almost a quarter, outpacing its apparel and accessories business. Puma has been enjoying a revival in the U.S. market, helped by a shift toward retro styles.      

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Jimmy Choo and Bally up for sale

JAB Holding controlled by the Reimann family is putting Jimmy Choo Plc and Bally International AG up for sale to focus on the food and beverage operations it has spent billions expanding in recent years. JAB Holding Co. said it is reviewing strategic options for both companies at a time when it’s snapping up U.S. coffee chains and a China-led revival in demand has boosted luxury valuations. The announcements signal the end of a nearly decade-long involvement in high-end shoemaking for JAB that started when its Labelux unit bought Bally in 2008. More recently, the closely [...]

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Furla buys back its distribution network in Australia

Furla will be buying back its Australian distribution network from Luxury Retail Group. The distribution network will add to its strategy of strengheting its position in Australia and New Zealand. With this, Furla will be opening five new stores between the two countries and will also expand its existing Sydney boutique.

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LVMH to acquire Christian Dior Couture for US$13.0 billion

The world’s largest luxury group LVMH said Tuesday it plans to buy Christian Dior Couture, a wholly-owned unit of Christian Dior SA, for US$13.0 billion. At the same time, the Arnault family who own 74 percent of the parent company, Christian Dior SA, will acquire the remaining 26 percent in a move to streamline the current shareholder structure, LVMH finance chief Jean-Jacques Guiony told a telephone news conference. Christian Dior activities include leatherware, Haute Couture, read-to-wear, jewellery and shoes and has a global network of 198 luxury boutiques and its [...]

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