Moncler hopes to limit financial damage from the coronavirus crisis with a strong rebound in the final part of the year, a crucial season for its trademark puffer jackets, after sales fell 18% in the first quarter.
The news published by Bloomberg about a possible takeover of the down jacket label by the French luxury group fuelled plenty of speculations. FashionNetwork.com analyses the operation’s potential impact.
Luxury jeweler Tiffany & Co, which is being bought by France's LVMH, missed market expectations for quarterly profit and sales on Thursday, hit by lower spending by foreign tourists in the United States and Hong Kong.
The chief executive and top shareholder of Moncler played down speculation around a takeover by Gucci-owner Kering on Thursday, saying the two firms sometimes talked but that there was no deal in the works.
Luxury brands from Prada to Cartier are counting the cost to their businesses of four months of unrest in Hong Kong that has kept tourists away and forced shops to shut, with upcoming results set to show the damage.
Digital transformation, changing consumer behaviour and fierce competition for the best retail locations are driving up costs in the luxury industry according to a study published by the American analytics firm.
The day after the luxury group announced that it will pay a record fine of 1.25 billion euros to Italian tax authorities, shares in the company rose 1%, reflecting a certain confidence as this chapter draws to a close.