Hermes on Thursday became the latest European luxury group to cut its sales growth target, caught by global consumer spending gloom, and said trading worsened in October, sending its shares down sharply.
Richemont , the world's second-largest luxury goods maker after LVMH LVMH.PS, will seek growth in China's interior while strengthening its presence on the country's affluent east coast, its Asia chief executive said on Thursday, October 16th.
Members of the controlling family of French luxury goods group Hermes have no plans to sell shares and the house is confident it will weather the financial crisis, Chief Executive Patrick Thomas told Reuters.
Charles & Colvard Ltd's Chief Financial Officer James Braun resigned, and the moissanite gemstone producer cut four other jobs as part of a corporate reorganization to manage costs and return to profitability.
Swiss watchmaker Swatch Group is still confident about growth in the second half of the year despite the global economic slowdown, the group's chairman Nicolas Hayek was quoted as saying on Tuesday, September 23th.
How do you take a 155-year-old raincoat maker with a staid image and transform it into a global luxury fashion and retail force? The answer, according Aquascutum President and CEO Kim Winser, is to market the heritage, modernise the clothes into objects of desire for sophisticated consumers, reach out to international markets and branch into accessories.
By Carolyn Giardina AMSTERDAM (Hollywood Reporter) - DreamWorks Animation CEO Jeffrey Katzenberg predicted on Sunday that all movies would be made in 3-D within "a reasonable period of time" and that 2-D films would be "a thing of the past.