Page 2 - Luca Solca News Today

The French luxury house posted strong quarterly sales growth across all geographic areas, including China.

Hermès International (RMS) Q1 2024 earnings are in: Sales gained 17%, with jewelry and home growing fastest in the quarter. It remains confident in China and U.S.

Balenciaga's new Tokyo flagship in Ginza's Toraya building is being marked with an exhibition of vintage couture dresses, and logo Japanese sweets.

The stock slid as much as 8.9% in early Paris trading to the lowest since 2018. Kering’s 20% share slump this year contrasts with gains by French rivals LVMH and Hermes International.

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Kering warned that recurring operating income will drop between 40% and 45% in the first six months of this year.

Miu Miu has orchestrated a web of celebrities in Asia, which includes Wonyoung, Minnie and Momo, who are influential across different regions.

Luxury conglomerate Kering reported a 10% decline in first-quarter sales as Gucci, its flagship brand, grapples with China woes and brand redirection.

In a research note, Bernstein analyst Luca Solca has maintained his recommendation on the stock with a Neutral rating. The target price remains unchanged at EUR 414.

Watch brands and their publicly listed parents have had a tough start to 2024 due to the strong Swiss franc and tepid demand in China and elsewhere.