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LVMH Report Signals Luxury Rebound?

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Paris–This week’s strong first quarter showing by LVMH Moët Hennessy Louis Vuitton is fueling speculation that the “austerity chic” has ended for affluent consumers. When LVMH, the world’s leading luxurygoods conglomerate reported that its first-quarter revenue exceeded expectations, hitting 13% over the same period last year, many analysts project that …

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Richemont Buys Net-a-Porter in $530 Million Deal

In eCommerce, Industry News, What's New by Accessories StaffLeave a Comment

Geneva–Luxurygoods group Richemont, which had been tentative about exposure of its high-end luxury watch and jewelry brands into ecommerce, agreed last week to buy online fashion portal Net-a-Porter for $530 million. Establishd in 2000, Net-a-Porter sells collections from more than 300 fashion designers, shipping to more than 170 countries. It recently …