Luxury Goods
The latest news, updates and analysis on the luxury goods segment of the the UK retail industry. Sign up to the Daily Briefing and let Retail Sector’s business journalists keep you in the picture.
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Sep- 2021 -20 September
LVMH names Nigo artistic director at Kenzo
Moët Hennessy Louis Vuitton (LVMH) has named Japanese fashion designer and DJ Nigo as the new artistic director of Maison Kenzo. Effective today (20 September), Nigo joins the French luxury fashion house founded by Takada Kenzo, who graduated from the same fashion school in Tokyo. Having launched A Bathing Ape…
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Aug- 2021 -26 August
Watches of Switzerland secures new CFO
Watches of Switzerland has announced the appointment of William Floydd as its newest CFO. He will succeed Anders Romberg who recently informed the board of his intention to retire after seven years in the role. Floydd will join the company from The Rank Group where he has held the role…
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10 August
Watches of Switzerland Q1 revenues soar 96.2%
Watches of Switzerland Group has revealed its revenues climbed 96.2% year-on-year to £297.5m for the 13 weeks ended 1 August 2021. Comprising £221.7m in UK revenues and £75.8m from US operations, the Q1 FY22 figure represents a 42.1% jump when compared to the same period in 2019. The group’s luxury…
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4 August
Hugo Boss reaches near-pre-pandemic sales levels
Hugo Boss has reported a near-return to pre-pandemic sales of €629m (£536m) in Q2 FY21, falling 4% when compared to the same quarter in 2019. The currency-adjusted figure represents a 133% year-on-year rise, with sales in group currency also climbing 129% from €275m (£235m) in Q2 FY20. The luxury fashion…
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4 August
DMR expands presence in Liverpool with Omega boutique
David M Robinson (DMR) has expanded its presence in Liverpool One shopping district with the opening of a mono-brand Omega boutique later this year. This latest expansion is DMR’s first opening of a mono-brand boutique, combining the watchmaking heritage of Omega with customer service experience. The new boutique spanning 2000…
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2 August
Hermes H1 net income reaches £1bn
Women’s bags and clutches retailer Hermes saw net income soar to €1.17bn (£999m) during the first half of FY21, up from €335m (£286m) the previous year. The group also reported a 70.2% year-on-year spike in revenues to €4.24bn (£3.62bn) during the period. Net income for the half year represented 27.7%…
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Jul- 2021 -27 July
LVMH reports 56% H1 revenue spike
Moët Hennessy Louis Vuitton (LVMH) has reported a 56% year-on-year revenue rise to €27.7bn (£23.7bn) in H1 FY21. Organic revenues at the luxury retailer also jumped 56% when compared to H1 FY20 and 11% in comparison to pre-pandemic 2019 levels. The group also saw profit from recurring operations jump 44%…
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16 July
Liberty London swings to £12.6m loss in FY21
Liberty London has swung to a management EBITDA loss of £12.6m for the 52 weeks ended 30 January 2021, following profits of £14.4m the previous year. While the group’s Great Marlborough Street flagship was closed for almost six months during the financial year, Liberty claimed that its online operations “benefitted…
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8 July
Watches of Switzerland revenues hit £905m in FY21
Watches of Switzerland has seen its revenue rise by 13.3% to £905.1m in the year ended 2 May, 2021, with revenue up by 17.9% against FY19. Over the same period, its pre-tax profit hit £63.7m, up from the £1.5m reported in FY20, while EBITDA rose by 34.9% to £105.4m. Despite…
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Jun- 2021 -9 June
LVMH launches £26m global support fund for employees
LVMH has announced the launch of its Heart Fund, a global emergency and support fund for its 150,000 employees, with an initial endowment of €30m (£25.7m). The group has implemented the fund with the aim of supporting all its staff around the world who are faced with a “serious personal…
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