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World Luxury Association Names “Most Valuable” Luxury Brands

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Beijing—It seems appropriate that the World Luxury Association (WLA), a  non-profit luxury brands research and management organization, should announce its “World’s Top 100 Most Valuable Luxury Brands” here. The event, which honors the Top 100 luxury brands in fashion, beauty, jewelry, watches, cosmetics, cars, aircraft, yachts, liquor, resorts and “innovation” …

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LVMH’s Q3 18% Sales Increase Adds Optimistic Outlook for Luxurygoods Sales

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Paris—If there’s a company that’s rightfully bullish on luxurygoods sales, it’s LVMH, which today reported 18% increase in its third quarter earrings to 6.01 billion euros (about $8.23 billion) Excluding currency swings and acquisitions, the sales increase beat analysts’ estimates for 5.85 billion euros for the quarter. Noting a continuation …

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Hermes Lifts Forecast as Half Year Sales Climb

In Industry News, Reports, What's New by Jeff PrineLeave a Comment

Paris—Reporting that its second quarter sales increased 22%, Hermès raised today its second half forecast, predicting sales increases of 12% to 14%. Although noting “uncertainties over the economic outlook and currency fluctuations,” Hermès raised its target for annual revenue growth and said first-half operating profit should grow “significantly” more than …

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Hermes Q1 Sales Jump on Increased Demand for Accessories

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Paris–Hermès International reported Wednesday that its first quarter sales jumped 25.5% on soaring demand for watches, scarves and fashion accessories. In its quarterly report—that topped most of its luxury rivals—Hermès posted sales of 637.1 million euros (about $918 million) from 507.7 million euros in its first quarter 2010. The sales …

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Arnault: LVMH a “Pacifist” Shareholder in Hermes

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Paris—Bernard Arnault, chairman of LVMH, struck a conciliatory tone late last week about his company’s stake in Hermès, which has been viewed as hostile by the majority shareholders, mostly family members of Hermès’ founders. Speaking to French publication Challenges, Arnault reiterated previous statements from LVMH that its stake in Hermès …

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French Regulator Approves Hermes Anti-Takeover Plan

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Paris—Hermès’ majority shareholders—descendants of the luxurygoods brand’s founding family—won an important round in their battle to keep LVMH Moet Hennessy Louis Vuitton from taking control of the company. On Thursday, Autorite des Marches Financiers (AMF), the French stock market regulator, ruled in favor of the family shareholders who shareholders decided …