The fashion house is about to reach one billion euros, in terms of incomes, in “mid-terms prospects”. As reported by L’Economia, Jonathan Akeroyd, chief executive officer of Versace since 2016, is rather confident that the brand will soon join the billion-dollar club, only for members whose turnover exceeds one billion euros. The manager grounds his […]
It is not time to speak about plans yet. “Some teams, composed of representatives of both companies, will liaise to carry out amalgamation and a strategic plan. Both Smit & zoon and Codyeco have their own forces: the synergy between the companies will drive us to achieve our best potential”. Such is the statement issued […]
Nigerian tanning industry is in ferment. Lawrence Chidi Anukam, general director of the National Agency for the application of guidelines and regulations, expressed his displeasure about the sustainability issue. In fact, in the district of Kano, which is considered a strategic industrial hub, leather treatment systems, implemented by tanning factories, are not sustainable from the […]
IT IS NOT A PARADOX. GST AUTOLEATHER IS UNDER CHAPTER 11, BUT THAT IS NOT A GENERAL ILLNESS SYMPTOM OF THE AUTOMOTIVE SECTOR AS A WHOLE, WHICH IS CONTINUING ITS POSITIVE PERIOD: THE PROBLEMS THE US-BASED (AND JAPANESE OWNED) GIANT IS HAVING, IS CAUSING FURTHER COMPLICATIONS THATS ARE DUE TO A LARGE NUMBER OF INDUSTRIAL AND FINANCIAL REASONS
The French tanneries Tanneries Pechdo change hands. Caroline Krug, a businesswoman with 12 years of experience in the LVMH group, with the support of an investment bank, found the majority of the company in which her capital came in 2014. Tannery, headquartered in Millau (renowned for gloves making), is specialised in the production of leather […]
The Henan Prosper Chinese tassel giant (Zhengzhou headquarters and about 6,000 employees in total), specialising in goat leather, expands its horizons in New Zealand. His Hong Kong branch, Rich Development, has invested $ 13 million in acquiring the G L Bowron & Co tannery of Christchurch. Founded in 1879 and specialised in sheepskin, it was […]
In 2017, the growth in profits for luxury retailers will be 7%, a sharp improvement compared to + 4% last year. Unfortunately, for high-end distribution, the pitfalls of the economy are not over. The double-digit growth rates of the 2010-2013 period are far, and unprecedented by 2020. The second half of the year, moreover, will […]
In the financial year ending on 31st January last year, the British footwear brand Clarks increased its sales by 8%, achieving a 1.7 billion Pound (1.96 billion Euro) turnover, while it has suffered a significant decline in profits, that have slumped from 43% to 20 million Pounds (23.1 million Euros). Was this due to Brexit? […]
The acquisition of the Dior group would also be financed with debt lines. The LVMH group enters the bond market for 4.5 billion. (According to the first estimates, the cost of the operation should go around 6.5 billion euros). Bonds will be divided into four tranches with maturities of 18 months, 3, 5 and seven […]
The transaction will cost a total of 6.5 billion euros, paid for two-thirds with cash and one-third in Hermes titles and will allow Dior Group and LVMH to be under the same management. The Arnault family has announced that it aims to unify two branded but distinct brands. The Arnault family holds 74% of the […]
At the end of the fiscal year (January 31, 2017), net sales of the Prada Group amounted to EUR 3.1 billion, down by 10% compared to 3.5 billion in 2015. Net income, meanwhile, fell by 16% year on year, rising from 331 million to 278 million (-16%). All positive numbers that are reflected in the […]
Interviewed by leatherbiz.com about the agreement for the merger of the divisions to the chemical tanning Stahl, of which he is now CEO, and BASF, Huub van Beijeren reassures operators: “BASF has a high reputation for its services and its staff. If we combine it with our service model centred on the consumer-oriented technical service, […]
According to press talks, the offers for the purchase of Kate Spade are ready to be formalised at the end of the month. While the share price fluctuates regularly (with the -0.4% setbacks after days of growth to 6%), analysts are questioning the validity of the operation of merger and fusion. The two leading contenders […]
It seems then that the capsule collection “Louis Vuitton x Supreme” is a partnership and not a precondition to a financial transaction. Early last week a rumor that the LVMH luxury group had defined the acquisition of the US cult brand for a figure close to 500 million dollars (about 470 million euro) had circulated. […]
An investment fund with an availability of 50 million euro, ready to invest between the 2 and 10 million in small brands. You LVMH Luxury Ventures, the new instrument which is equipped with the French holding company of fashion to help grow emerging brands. The identikit of the startups that can qualify for the spectrum […]
That’s what happens when the shareholder attacks the management publicly. The US fund of investment, Caerus Investors, has sent a letter to the board of Kate Spade to invite the brand leaders to start looking for a buyer. The fund (which holds 0.03% stakes of the brand) blamed the current management’s inability to produce margins: […]
Up by +1% at current exchange rates, loss by 1% at constant exchange rates, Wall Street’s forecasts on Coach were missed by an inch. Coach’s first quarter of the new fiscal year is good, but below expectations. At October the 1st, the US brand had sales of $ 1.04 billion (Big Apple’s analysts were expecting […]
