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Angelina Rascouet

Angelina Rascouet

Fortune

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Burberry follows Gucci-owner Kering on downward sales trend as consumers snub mid-market luxury fashion

The Asia Pacific and Americas regions performed the worst for Burberry last quarter, with sales sliding by 17% and 12% respectively.

15.05.2024 60

Fortune

Angelina Rascouet

Hermes emerges as the outlier with strong China sales, while the rest of luxury bleeds from the lack of shoppers

Sales jumped to $4.1 billion in the first quarter, and shares rose as much as 1.3%, beating LVMH Moet Hennessy Louis Vuitton SE and Gucci owner Kering...

25.04.2024 10

Fortune

Angelina Rascouet

Gucci owner Kering struggles to revive the luxury fashion house, shares slip after it issued its second profit warning for 2024

Kering warned that recurring operating income will drop between 40% and 45% in the first six months of this year.

24.04.2024 30

Fortune

Angelina Rascouet

Gucci owner Kering splurges $1.4 billion on new Milan store, making it Italy's most expensive building

The deal represents “the single largest asset sale in the Italian real estate market”.

04.04.2024 40

Fortune

Angelina Rascouet

LVMH's Belloni signs off after 23 years as second-in-command

Stephane Bianchi, the current head of LVMH’s watches and jewelry unit, will succeed him.

22.03.2024 10

Fortune

Angelina Rascouet

French 'Succession' intrigue deepens as source says Bernard Arnault plans to nominate 2 more millennial sons to LVMH board

Arnault, the world's third wealthiest person, owns about 48% of LVMH shares along with his family, and nearly 64% of voting rights.

23.01.2024 30

Fortune

Angelina Rascouet

LVMH family succession drama heats up

The announcement will likely renew speculation over succession at the luxury company, which is currently headed by 74-year-old Bernard Arnault, the...

22.11.2023 30

Fortune

Angelina Rascouet

Rich yanks cancel Paris trip plans amid 'worry that many people abroad are not just anti-Jewish but also anti-American'

Premium airfares from New York to Paris were up 44% over 2019 in the three weeks prior to Oct. 7, then just 4% afterward, according to ForwardKeys.

18.11.2023 10

Fortune

Angelina Rascouet

Champagne producers helped by ‘revenge pleasure’ now hurt by ‘a lot of inflation in all countries’

Demand for LVMH’s Champagne brands is moderating this year after the boom that followed the pandemic.

17.09.2023 4

Fortune

Angelina Rascouet

Balmain, which counts Beyoncé among its fans, just had more than 50 pieces stolen in a delivery truck hijacking 

The attack comes ahead of the brand’s Paris Fashion Week show.

17.09.2023 60

Fortune

Angelina Rascouet

Bernard Arnault spent $230 million on LVMH shares after disappointing earnings hit stock

The French luxury tycoon took the opportunity to buy the dip.

08.09.2023 2

Fortune

Angelina Rascouet

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