The chairman, controlling shareholder — and lodestar — of the world’s second-largest luxury goods group, Compagnie Financière Richemont SA is taking a yearlong break beginning in September. Rupert revealed his decision as the company posted a 30.2 percent increase in net profits to 2.01 billion euros, or $2.59 billion, in the 12 months to March 31.
Kering, the French group previously known as PPR, has acquired France Croco, an elite producer of tanned skins. François-Henri Pinault confirmed the transaction in an interview published in Sunday’s Journal du Dimanche. France Coco is located in the Normandy region of France, the tannery is believed to be the third largest in the world and a supplier to the top fleet of luxury firms in Italy and France, including brands owned by Kering and its luxury rivals.
PPR will change its name to Kering from June 18, it has been confirmed. The news comes as the luxury conglomerate rebrands itself as a fashion and accessories specialist, moving away from its retail assets. The change in name and visual identity comes as the publicly traded French group, controlled by the Pinault family, nears the completion of its transformation to a fashion and accessories specialist in the luxury and sport/lifestyle segments.
Chief executive officer Francois-Henri Pinault said the name has its roots in the Brittany region of France, and connotes a house or foyer. Pinault also unveiled a new logo – a stylized owl with a heart-shaped face – and tagline, “Empowering Imagination.”
Hermès International said net profits shot up 24.6 percent last year thanks to robust demand for its leather goods, silk scarves and perfumes. The luxury firm said net income totaled 740 million euros, or $951.5 million, versus 594 million euros, or $827.1 million, in the year-ago period.
PPR SA, the luxury conglomerate wishes to be known as a luxury and sporting goods specialist and is currently in the process of selling two of its home-shopping brands, following the sale of online retailer La Redoute last month, as it moves away from its retail assets. CEO François-Henri Pinault aims to increase the firm’s sales to €24 billion (£20.9 billion), by 2020 from €9.7 billion (£8.4 billion) in 2012.
In the fourth quarter, the maker of Birkin bags and silk scarves said sales totaled 1.04 billion euros, or $1.35 billion, up 22.5 percent versus 2011. This represented a rise of 18.5 percent at constant exchange rates.
“What we do is perfectly in sync with the aspirations of consumers, first in europe and the United states, now also in china, since more and more chinese consumers are looking for discretion and quality objects for pleasurable living, rather than the ostentatious luxury that symbolized the early days of luxury,” chief executive officer Patrick Thomas said.
Bernard Arnault, LVMH CEO confirmed that the group will pursue expansion of its menswear French luxury shoemaker Berluti. Last year, the brand launch its men’s Ready-To-Wear collection by former Zegna designer Alessandro Sartori.
PPR is striking a deal to acquire a 51 percent stake in Christopher Kane, another London’s designer. The French group wanted to accelerate expansion of the Scottish designer and develop his business as a global luxury brand.
“In just a few years, he has built a very distinctive and exciting brand with a unique DNA,” said François-Henri Pinault, chairman and chief executive officer of PPR.
Diesel founder Renzo Rosso is poised to take over Italy’s Marni to relaunch the bohemian-chic fashion house on foreign markets, the company said. The all-Italian acquisition is a rare case in a luxury industry where most deals are made in France and Asia, and confirms Rosso as a dynamic fashion entrepreneur in Italy
Louis Vuitton enlisted bloggers Miroslava Duma, Hanelli Mustaparta, and Elin Kling, to appear in a video called “Small Is Beautiful,” an ode to the house’s small, crossbody bags. It’s time to downsize and minimize.
The Italian luxury firm, driven by growth in its leather goods category and a robust performance of its retail network across all geographic markets, reported a strong rise in nine-month, posting a 50 percent gain in net profits, which reached $523 million in the period ended Oct. 31.
Karl Lagerfeld’s much anticipated Chanel Metiers d’Art show was unveiled yesterday, with a spectacular reception. The show was set in the ruins of Linlithgow Palace, the 15th century birthplace of Mary Queen of Scots, near Edinburgh, Scotland.
Italy’s Luxottica Group S.p.A., the world’s biggest premium eyewear maker, said on Friday it had signed a deal to buy French luxury eyewear maker Alain Mikli for around 90 million euros ($117 million).
“With its innovative design, Alain Mikli would enrich our luxury eyewear segment and further strengthens our prescription side, where we have deeply invested in the past years, to further contribute to the group’s resilient growth. Moreover, Luxottica’s vertically integrated business model and deep know-how of luxury eyewear distribution would allow Alain Mikli to increase its selected global presence.” said Luxottica chief executive officer Andrea Guerra.
In 2011 Alain Mikli posted net sales of about 60 million euros.
In the Ferragamo family’s owned hotel Continentale , a newly ‘White Iris Beauty Spa’ has opened. The wide range of signature treatments has been inspired by the purity of nature and the seductive simplicity of Florentine elegance. Among the various treatments, is ‘Sublime feet’, which will transform your feet into those of Salvatore Ferragamo’s dreams: beautiful, refined and elegant