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LVMH 150
LVMH Jewelry and Watch Revenue Slides
LVMH’s jewelry and watch sales declined in the third quarter, even as a recovery in China buoyed sales, the company said last week.Revenue for the category fell 14% to EUR 947 million ($1.11 billion) for...
Retail Oct 18, 2020 Rapaport News
Tiffany One Peking store
Tiffany Encouraged by 3Q Momentum
Tiffany & Co. has witnessed a rebound in its operations during the third fiscal quarter, driven by growth in e-commerce sales and a strong recovery in China, the jeweler said Thursday.Operating earnings grew 25% year on year...
Retail Oct 15, 2020 Rapaport News
Audrey Hepburn
The Importance of Being Tiffany
There was a moment during the 2019 Academy Awards ceremony that made the jewelry world stop and gasp. Lady Gaga, who would later that evening collect the coveted Oscar for best...
Retail Oct 12, 2020 Avi Krawitz
Tiffany engagement ring boxes
LVMH Claims Right to Exit Tiffany Deal
LVMH has filed a countersuit against Tiffany & Co., claiming a legal right to pull out of the companies’ tie-up due to Covid-19 and the US jeweler’s “mismanagement” of the crisis.The pandemic constitutes a “material adverse effect” that...
Retail Sep 29, 2020 Rapaport News
Tiffany Joshua LOndon 150
LVMH-Tiffany Trial Set for January
A US court has approved Tiffany & Co.’s request to fast-track its lawsuit against LVMH, scheduling a four-day trial starting January 5, 2021.The timeline means a ruling would come after the final deadline for LVMH’s takeover...
Retail Sep 22, 2020 Rapaport News
Tiffany
LVMH and Tiffany Lock Horns over Trial Timing
LVMH has asked a court to delay Tiffany & Co.’s lawsuit against the luxury group, prompting the US jeweler to renew its allegations of foul play by its would-be acquirer. Tiffany had petitioned the Delaware Chancery...
Retail Sep 17, 2020 Rapaport News
TIffany store 150
Tiffany Messed Up During Covid-19, LVMH Says
LVMH plans to countersue Tiffany & Co. after the companies’ $16 billion marriage turned sour, accusing the US jeweler of management errors during the coronavirus.“[Tiffany’s] first-half results and its perspectives for 2020 are...
Retail Sep 10, 2020 Rapaport News
Sarine Tiffany
LVMH Scraps Tiffany Deal; Tiffany Sues
LVMH has abandoned its acquisition of Tiffany & Co., citing a trade dispute between the US and France and a disagreement over the timing of the deal.Tiffany has sued LVMH in response, claiming that the luxury...
Retail Sep 09, 2020 Rapaport News
Bulgari store in Ginza, Tokyo.
LVMH Revenue Dives as Tourism Dries Up
LVMH, which owns Bulgari and Chaumet, saw sales of watches and jewelry slump in the first half of 2020 as the coronavirus reduced tourist spending and affected demand from wholesale customers.The category endured the...
Retail Jul 28, 2020 Rapaport News
Houruniverse
Baselworld Owner Creates New Trade Show
Baselworld owner MCH Group has established Houruniverse, a new trade fair for the watch, jewelry and gemstone industries that will run virtually throughout the year and feature an annual live event.Buyers and...
Polished Markets Jul 27, 2020 Rapaport News
Stéphane Bianchi.
LVMH Watch Chief Takes On Jewelry Portfolio
LVMH has promoted Stéphane Bianchi to CEO of its watches and jewelry division, starting July 1. Since 2018, he has been CEO of watchmaking and of the French luxury group’s TAG Heuer timepiece brand.Bianchi will oversee...
Retail Jun 08, 2020 Rapaport News
Tiffany Toronto store
LVMH-Tiffany Deal Faces Uncertainty
The LVMH board met on Tuesday to discuss its takeover of Tiffany & Co., fueling rumors that the $16.2 billion deal was less certain than before Covid-19.The panel of directors “focused its attention on the...
Retail Jun 04, 2020 Rapaport News
Bulgari store London
LVMH Pulls Out of Baselworld
LVMH has withdrawn its four watch and jewelry brands from the 2021 Baselworld show after several other industry heavyweights quit the event.Bulgari, TAG Heuer, Hublot and Zenith will instead take...
Watches Apr 20, 2020 Rapaport News
LVMH
Bulgari Endures First-Quarter Decline
LVMH saw a slump in jewelry and watch sales in the first quarter as the COVID-19 pandemic led to the closure of most of its global stores.Revenue for the category fell 24% to EUR 792 million ($861.3 million)...
Retail Apr 19, 2020 Rapaport News
Tiffany
Tiffany Gives $1M to Pandemic Relief Efforts
Tiffany & Co. has donated $1 million to aid efforts to stem the spread of COVID-19, with a portion allocated toward providing essential medical supplies to New York.The jeweler will contribute $750,000 to the COVID-19 Solidarity Response...
Retail Apr 07, 2020 Rapaport News
LVMH Updat
LVMH 1Q Revenue Could Fall up to 20%
LVMH expects its revenue for the first quarter to drop as the coronavirus outbreak has led to the closure of many of its stores.“The measures taken by public authorities to combat the COVID-19 pandemic have resulted in the...
Retail Mar 30, 2020 Rapaport News
Tiffany
Tiffany & Co. Revenue Flat at $4.4B in 2019
Tiffany & Co. reported solid sales in fiscal 2019 as it introduced new products and sold higher-value jewelry.Group revenue was flat at $4.4 billion for the year ending January 31, matching the record annual...
Retail Mar 22, 2020 Rapaport News
Bulgari store 150
Bulgari Is Latest Brand to Exit Baselworld
Italian luxury brand Bulgari has confirmed it will not be participating in the 2020 edition of Baselworld, a little over a week after Gucci announced it was exiting this year’s show.The reasons behind Bulgari’s departure were not...
Retail Feb 13, 2020 Rapaport News
LVMH
Jewelry and Watches Strong for LVMH in 2019
Sales of jewelry and watches at LVMH increased 7% in 2019 amid a strong year for Bulgari.Revenue from the categories rose to EUR 4.41 billion ($4.85 billion), driven by Bulgari’s Fiorever collection, which contributed significantly to growth following...
Retail Jan 29, 2020 Rapaport News
Sewelo diamond
Louis Vuitton Buys 1,758ct. Diamond from Lucara
Lucara Diamond Corp. has sold Botswana’s largest diamond to Louis Vuitton in a rare move that will see the fashion house partner with an Antwerp manufacturer to polish the stone.The mining company will receive an up-front...
Rough Markets Jan 16, 2020 Rapaport News
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