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ANALYSIS: President Xi Jinping's pledge to redistribute wealth brings back bad memories for luxury brands in China

ANALYSIS: President Xi Jinping's pledge to redistribute wealth brings back bad memories for luxury brands in China
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President Xi Jinping's pledge to redistribute wealth brings back bad memories for luxury brands in China

President Xi Jinping's pledge to redistribute wealth brings back bad memories for luxury brands in China ....

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LVMH reports H1 sales high as luxury fashion proves pandemic proof

LVMH reports H1 sales high as luxury fashion proves pandemic proof
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Rihanna, LVMH suspend Fenty fashion brand as pandemic weighs

LVMH and Rihanna are suspending the ready-to-wear operations of Fenty, the pop singer’s brand, less than two years after its debut as the pandemic pummels demand for clothing.
“Rihanna and LVMH have jointly made the decision to put on hold the ready-to-wear activity, based in Europe, pending better conditions,” the French luxury conglomerate said in a statement Wednesday.
Rihanna during a surprise visit to The Dubai Mall to promote her make-up brand.
Fenty was launched to great fanfare in May 2019 and represented a rare effort by LVMH to build a new fashion brand from scratch. The luxury giant has typically focused on acquiring businesses with prestigious legacies, whether it’s handbag maker Louis Vuitton or Champagne producer Moet & Chandon. ....

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Louis Vuitton Sales Surge Helps LVMH Weather Covid Lockdowns

Louis Vuitton Sales Surge Helps LVMH Weather Covid Lockdowns
Bloomberg
1/27/2021
Angelina Rascouet
© Bloomberg
Shoppers wearing protective masks wait to enter a Louis Vuitton store in San Francisco, California, U.S., on Wednesday, Dec. 23, 2020. Bloomberg is scheduled to release consumer comfort figures on December 24.
(Bloomberg) LVMH weathered a new round of Covid-19 lockdowns thanks to the resilient appeal of its Louis Vuitton bags.
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Sales for its fashion and leather goods unit soared 18% on an organic basis in the fourth quarter, beating the 11% jump analysts expected. Shares in the luxury conglomerate rose as much as 2% in Paris on Wednesday, trading at the highest in two weeks. ....

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