luxury / Conglomerates

LVMH-owned Dior missed glaring problems during an assessment of working and safety conditions in its production arm in Italy last year, according to a review of unpublished court documents.

The luxury industry was under pressure in 2024 as customers pulled back on high-end purchases. Brands from Chanel to Valentino to Fendi changed their creative lineups, hoping to jump-start demand. But the struggles at Gucci and Burberry show how tricky executing a designer relaunch can be.

The family behind luxury's biggest conglomerate aims to turn Paris FC into a formidable rival to Paris Saint-Germain, investing significantly in the second-tier football club alongside Red Bull.

The company is shaking up its executive ranks again amid sliding sales. Balenciaga chief Cédric Charbit will lead Saint Laurent, to be replaced by Gianfranco Gianangeli.

Arnault is exiting his role at Tiffany in the conglomerate’s latest executive shakeup. He’ll become deputy CEO of the group’s wine and spirits unit, Moët Hennessy, under Jean-Jacques Guiony.

Amid a luxury fashion slowdown, brands are launching full beauty lines at a record pace as they jostle to find their position in a crowded market.

The Milanese group reported nine-month net revenues up 18 percent year-on-year, powered by eye-popping growth at Miu Miu, where third-quarter sales surged 105 percent.

Sales at the French group fell 16 percent in the third quarter as a market-wide downturn hit hard. At flagship brand Gucci, where revenue fell 25 percent, management is exploring store closures while betting on a revamped handbag programme to jump start demand.