Word: lvmh
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Like two women fighting over the last hot bag at a department-store sale, Coach and Louis Vuitton, makers of luxury handbags, are in a tussle--over Japanese shoppers. In early March, Coach complained to the Japanese Fair Trade Commission (JFTC) that LVMH Moet Hennessy Louis Vuitton was, among other things, strong-arming department stores, threatening to pull the Louis Vuitton brand if Coach opened or expanded within shops where Vuitton already sells...
...Total and luxury goods maker LVMH. Nearly everyone feels the pinch; the national statistics institute predicts that household purchasing power will be virtually stagnant in the first half of this year. Meanwhile, it's unclear where the government will find the extra €1.6 billion to fund the public-sector raise - new Finance Minister Thierry Breton last week downgraded official forecasts of economic growth this year, from 2.5% to nearer 2%. A Bad Day At The Bourses Is the boom off in Central Europe's stock markets? After posting record gains in recent months, bourses across the region stumbled last...
Among the ones to watch were those of three brothers from Florida who were attending their first haute-couture parade. Just one day after buying the house of Christian Lacroix from the French luxury group LVMH for an undisclosed sum, Simon, Jerome and Leon Falic took their seats at their new employee's show. It was among the most anticipated events on the week's calendar, not just because of Lacroix's reputation as one of fashion's most intriguing talents but also because talk of the LVMH-Falic deal had been circulating since early January. The Falics...
...Versace have shuttered their couture operations. Last year, according to analysts' estimates, Lacroix generated about $39 million in sales from its couture, ready-to-wear and licensing businesses--with a loss of $13 million. Those in the designer's inner circle say Lacroix is bitter about the way LVMH'S chairman, Bernard Arnault, handled the sale, although Arnault shows little regret. "For 17 years we have worked to transform the company, and we have not been successful," he says. "It's time to focus on our core businesses and those brands like [Louis] Vuitton that have the most potential...
Luxury quotient: The company has become the LVMH of beauty in recent years--acquiring 13 brands, from MAC to La Mer. But its original five still make up the lion's share of sales. "We are brand builders," says Lauder. And he is just getting started. He aims to double the size of the company in five to 10 years...