Armani Group turnover drops 5% in 2016

Armani Group Chairman and Founder reported a 5% decline in the turnover of the company in 2016, reaching a total of 2,65 billion euros. After a period of stagnation, Armani estimates that growth will spring from the retail, marking an end of the large size stores. For 2017, he confirmed a positive performance outlook.

Read More

Hugo Boss Q4 sales decline by 3%

Hugo Boss said 2016 operating profit would fall less feared following a fourth-quarter sales recovery in China and Britain, sending its shares as much as 10 percent higher on Monday. Revenue in Asia, where Hugo Boss makes almost a fifth of sales, rose a currency-adjusted 5 percent in the fourth quarter, recovering from a 3 percent fall in the third after it cut prices in China closer to European and U.S. levels. The firm said like-for-like sales had risen almost 20 percent in mainland China, adjusted for currency effects. It [...]

Read More

Luxxotica to merge with Essilor creating 46 billion euro eyewear giant

Italy’s Luxottica and France’s Essilor have agreed a 46-billion euro ($49 billion) merger deal to create a global powerhouse in the eyewear industry, two sources with knowledge of the matter said. The deal, one of Europe’s largest cross-border tie-ups, is expected to be announced before the market opens on Monday. It brings together Luxottica, the world’s top spectacles maker with brands such as Oakley and Ray Ban, with Essilor, the world’s leading manufacturer of ophthalmic lenses. The deal will see Luxottica’s 81-year old founder, Leonardo Del Vecchio, take a 31 [...]

Read More

Moncler CEO expects positive performance in 2017

“We closed 2016 well,” Moncler CEO Remo Ruffini told reporters on Sunday, without elaborating.Christmas sales for the company, best known for its down-filled skiwear coats, took off after a difficult autumn for the luxury sector as a whole. “After a hard situation, the skies have brightened up … we have had an excellent start to the year,” Ruffini added, speaking on the sidelines of the brand’s menswear show for its Gamme Bleu line. Ruffini did not give further details with regards to the group’s revenue, which was previously expected to [...]

Read More

Acqua di Parma opens in Miami first store in the U.S.

Italian luxury beauty brand, Acqua di Parma, have announced its first boutique in the USA. The store opened in December 2016 in Miami’s Brickell City Centre. The 1,000 square-foot boutique evokes a sense of an elegant Italian home. At the centre of the boutique is the design hallmark of a giant leather-covered pyramid displaying bottles of the brand’s most famous scent, Colonia.

Read More

Printemps and Galeries Lafayette 2016 revenues decline by 10%

In 2016 France was badly hit by terrorist attacks in Paris, Nice and elsewhere, by strikes and by a general feeling of insecurity, which chased away foreign tourism, severely impacting Paris’ luxury goods and hotel trade. Last year the latter suffered an earnings loss of €650 million, rising to €900 million if figures for the catering sector are included. Sales at Printemps Haussman, the department store chain’s flagship branch, fell by 10% in the calendar year 2016, as indicated on Monday by its General Manager Pierre Pelarrey on French business [...]

Read More

CPP-LUXURY iOS App