The global luxury goods market is recovering much faster than most expected a year ago, bolstered by China, strong tourist spending in Europe, resurgent growth in Russia and the U.S. economic recovery.
Safilo Group, worldwide leader in the premium eyewear sector, has appointed Luca Fuso Global Head of the Licensed Brands Division, reporting directly to Roberto Vedovotto, Chief Executive Officer of Safilo Group.
Italian luxury goods maker Ferragamo, whose shoes have been worn by stars including Marilyn Monroe and Al Pacino, is not considering a share listing in Hong Kong like its fashion peer Prada, its CEO has said.
Prada kicked off a possible Hong Kong IPO on Thursday which could value the Italian fashion company at more than 6 billion euros ($8.2 billion) and allow it to cash in on high market ratings for luxury goods stocks.
The board of Prada, one of the world's best-known fashion names, decides on Thursday on a long-awaited initial public offering in Hong Kong, which would make it a trailblazer for the European fashion industry.
The head of Cerruti, the Italian fashion house known for its smart suits for men and 1881 perfume, said he was concerned discretionary spending could take a hit with the current budget crisis in Europe.