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The retail unit of Indian conglomerate Reliance Industries has acquired a 52% stake in popular designer labels of Ritu Kumar, the company said on Tuesday, in the latest bet on the country's fast-expanding luxury designer market.
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French luxury group Kering's star fashion brand Gucci grew sales by just 3.8% in the third quarter, missing analyst expectations as the pace of recovery from COVID-19 slowed down sharply, particularly in Asia, following a bumper second quarter.
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Chinese growth and corporate earnings in the United States and Europe, including results from the big-hitting FAANGs, will give markets plenty to digest in the week ahead, while Turkey's central bank is set to meet after another midnight reshuffle.
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As Europe's third quarter reporting season kicks into gear, investors are scrutinising company results for any signs that supply chain strains, labour shortages and surging energy prices are starting to undermine profits.
(Bloomberg) -- Italian yacht maker Sanlorenzo SpA has seen rising demand from wealthy customers, including many first-time luxury boat buyers, as the Covid-19 pandemic eases.