Latest news with #Gucci
Yahoo
an hour ago
- Business
- Yahoo
Luxury heavyweights struggle to shake off shopper fatigue
By Mimosa Spencer PARIS (Reuters) -LVMH and Kering are expected to report another drop in quarterly sales, deepening investor worries about a prolonged downturn in the $400 billion luxury market as brands face the threat of hefty U.S. import tariffs. The results, kicking off with LVMH on Thursday, will likely show that any revival in demand for pricey fashion in the key U.S. and Chinese markets remains elusive. Uncertainty unleashed by U.S. President Donald Trump's trade war has caused volatility in stock markets, weighing on consumer confidence. Trump's threat of 30% tariffs on imported EU goods risks hurting luxury houses that make products in France and Italy. They will be wary of lifting prices for U.S. consumers after signs that previous rounds of price hikes slowed demand. "The level of price increases has been too much" at a number of brands, alienating the "aspirational" middle-income shoppers, said Caroline Reyl, head of premium brands at Pictet Asset Management. LVMH's fashion and leather goods division, home to Louis Vuitton and Dior, is expected to show sales down 6% year-on-year, its fourth consecutive quarterly decline, according to a Visible Alpha consensus forecast. Gucci, Kering's main earner which is undergoing an overhaul, has struggled for twice as long and is seen reporting sales down nearly a quarter from a year earlier. After two years of slowing sales, unease about the health of the industry is growing, with customers balking at higher price tags. Shares of LVMH are down nearly 27% since the start of this year, while shares of Kering are down 15%. Shares of Hermes and Richemont, which cater to mostly wealthy clients, were little changed, with the former down 0.9% and the latter up 1.6% over the same period. LVMH, Europe's most valuable listed company as recently as January, has slipped to fifth place. "It seems that investors are starting to worry about the long-term structural attractiveness of the industry," UBS analysts said last week. Sales of handbags - previously a growth engine - have been weak as shoppers opt for timeless, investment-grade jewellery. Brands including Dior, Gucci and Chanel have recruited new designers, but it takes time for fresh styles to enter stores. LOWER-PRICED PRODUCTS Brands like Louis Vuitton and Prada are offering more products below $1,000, like a new hybrid ballerina-sneaker shoe, for example, and emphasising beauty products, said Bain consultants. But that carries risks. "The aspirational skew of the brand is unhelpful currently," said HSBC analysts, highlighting problems at Louis Vuitton. "Some inconsistencies, we feel, are likely starting to have consumers wonder." Consensus forecasts peg organic sales of LVMH down 3%, while Kering is seen down 13%; Hermes and Prada are expected to show a 10% rise, as Prada's Miu Miu label takes market share from rivals. Kering will report its results on July 29, while Hermes and Prada are due to report on July 30.
Yahoo
an hour ago
- Business
- Yahoo
Luxury heavyweights struggle to shake off shopper fatigue
By Mimosa Spencer PARIS (Reuters) -LVMH and Kering are expected to report another drop in quarterly sales, deepening investor worries about a prolonged downturn in the $400 billion luxury market as brands face the threat of hefty U.S. import tariffs. The results, kicking off with LVMH on Thursday, will likely show that any revival in demand for pricey fashion in the key U.S. and Chinese markets remains elusive. Uncertainty unleashed by U.S. President Donald Trump's trade war has caused volatility in stock markets, weighing on consumer confidence. Trump's threat of 30% tariffs on imported EU goods risks hurting luxury houses that make products in France and Italy. They will be wary of lifting prices for U.S. consumers after signs that previous rounds of price hikes slowed demand. "The level of price increases has been too much" at a number of brands, alienating the "aspirational" middle-income shoppers, said Caroline Reyl, head of premium brands at Pictet Asset Management. LVMH's fashion and leather goods division, home to Louis Vuitton and Dior, is expected to show sales down 6% year-on-year, its fourth consecutive quarterly decline, according to a Visible Alpha consensus forecast. Gucci, Kering's main earner which is undergoing an overhaul, has struggled for twice as long and is seen reporting sales down nearly a quarter from a year earlier. After two years of slowing sales, unease about the health of the industry is growing, with customers balking at higher price tags. Shares of LVMH are down nearly 27% since the start of this year, while shares of Kering are down 15%. Shares of Hermes and Richemont, which cater to mostly wealthy clients, were little changed, with the former down 0.9% and the latter up 1.6% over the same period. LVMH, Europe's most valuable listed company as recently as January, has slipped to fifth place. "It seems that investors are starting to worry about the long-term structural attractiveness of the industry," UBS analysts said last week. Sales of handbags - previously a growth engine - have been weak as shoppers opt for timeless, investment-grade jewellery. Brands including Dior, Gucci and Chanel have recruited new designers, but it takes time for fresh styles to enter stores. LOWER-PRICED PRODUCTS Brands like Louis Vuitton and Prada are offering more products below $1,000, like a new hybrid ballerina-sneaker shoe, for example, and emphasising beauty products, said Bain consultants. But that carries risks. "The aspirational skew of the brand is unhelpful currently," said HSBC analysts, highlighting problems at Louis Vuitton. "Some inconsistencies, we feel, are likely starting to have consumers wonder." Consensus forecasts peg organic sales of LVMH down 3%, while Kering is seen down 13%; Hermes and Prada are expected to show a 10% rise, as Prada's Miu Miu label takes market share from rivals. Kering will report its results on July 29, while Hermes and Prada are due to report on July 30.
Buzz Feed
7 hours ago
- Entertainment
- Buzz Feed
57 Hilarious Smartasses Who Can't Be Normal Humans
First, there's the husband who told his wife he got her a Gucci "hambag" (and he's lucky she didn't divorce him): The wife who had quite the answer to "How many sexual partners have you had?": And the smartass who left this gift in the crawlspace for the new owner's of his house to find: The employee who — when their office manager went on vacation — put this masterpiece over their desk (and if you're too young to get it, watch The Silence of the Lambs): The amputee who got the perfect tattoo: If you can't read it, it says: "One foot in the grave." And the cheeky person who got this one: The guy who couldn't just eat this pear slice without showing it off to the whold damn world: This wait person who found a novel way to deal with annoying customers: And the kids who pulled this "starter-level" prank on their dad, lol: The owner of this truck who thought, "You know what would be funny?": The person who made this sign way more delightful than it had any right to be: And the coffee shop owner who turned their matcha powder into the ultimate double take: The grandma who brings extra bacon from home to add to her BLT: The garbage truck driver who definitely has a sarcastic streak: And the people who make this pickle-flavored dough (and 100% know what they're doing): The guy who, after passing a bottle of Rumple Minze back and forth with his buddy for years, pulled the ultimate move and sneaked it back in a birthday cake: The restaurant owner who'd HAD it with people complaining there was no T.P. in the bathroom: And the wiseguy who couldn't just give his router a normal name: The pranksters in Glasgow who vandalized this advert for the "Big Arch" burger: This author who — after being told the Bible is the top-selling book of all-time — wrote this: And the owners of this nursery who were surprisingly sarcastic for people who sell plants: The person who made this flyer (I'm not sure if they're sincere or joking, lol): The pain in management's ass who found a way around their stupid rules: And this very prim and proper grandma who found a way to read slightly saucy books — by replacing the swears: The blinds installer who drives this truck: The Monty Python fan who did this when they got a scratch on their car: And the friends who came up with this slightly excessive way to keep their drunk pal from driving home: The smartass who went out this door to cancel their gym membership the easy way: The person who couldn't afford a fancy bidet, but didn't let that stop them: And the struggling math student who tried — and failed — to use Jesus to pass a test: The person who didn't want people to know he was driving one of Elon's Cybertrucks: The smart aleck who did THIS when mom told them to "stack the dishes in the sink": And the pharmacy technician who was over their job: The person who didn't have a fly swatter, so they let their pet gecko eat the flies buzzing about: The restaurant that found a way to A) let kids eat free, and B) not lose a dime: And the kid who found a hilarious way to stop birds from flying into this window: The classmates who teamed up to pull this prank: The man who was OVER discussing their accident: And the sign maker who had a sneaky plan to get you to read it: The prankster who put a couple layers of boot polish on one of their coworker's boots every day he was on left the other boot totally as is: And the timid driver who found a brilliant way to guilt people into letting them merge: The grocery stocker who knew exactly what they were doing: Ian, who tricked his wife into hanging a stocking for their new pup, Nala, so that when lined up they spelled...: And the person who made their McDonald's order via playlist: The driver behind this impressively clever way to cover up a cracked windshield: And the co-worker who left this trap for whoever kept stealing their lunch: The cat owner who called out their kitty: The homeowner who — when they needed to spray their new kitchen cabinets — preempted anyone from thinking anything illegal was going down: And the guy who — when a kid tossed rocks at his house and then took off running, forgetting his scooter — did this: The person who — upon finding the store totally out of Christmas bags — improvised: And the wife who is petrified of slugs, so when one came in the house, she did this: The note reads: "Scary slug infiltrated. Hid him in a trolley under pile of salt under glass bowl. Very sorry, but could you deal with it? Love you x." This person who got tired of answering the same question on job interviews, so they printed up this card to hand out when asked their greatest strength: The sly devil who discovered their Christmas pillow can double as Valentine's Day decor: And the movie theater employees who absolutely knew what they were doing when they put this standee here: The wife who found a way to make her husband's jokey birthday request for "cocaine and hookers" come true: The person who accidentally bought a card for a fifth birthday instead of improvised: And Katie, who was given an offer she couldn't refuse, but found a way to anyway:
CNBC
17 hours ago
- Business
- CNBC
New Kering CEO could 'make Gucci great again,' Barclays says
Monday - Friday, 08:00 - 11:00 CET | 14:00 - 17:00 HK/SG Squawk Box Europe Podcast Carole Madjo, head of European luxury goods research at Barclays, weighs in on the potential turnaround of Kering-owned Gucci under new CEO Luca de Meo, and broader trends within the sector.
USA Today
a day ago
- Entertainment
- USA Today
UFC prospect Islam Dulatov sees MMA career as more important than runway modeling
Islam Dulatov makes his priorities known following his UFC 318 win. NEW ORLEANS – Islam Dulatov let the world know what his priority is. Despite being a successful runway model for top brands such as Gucci, Tommy Hilfiger, and Hugo Boss, Dulatov (12-1 MMA, 1-0 UFC) wants to focus on a different stage and bright lights. The welterweight prospect said his UFC career will now take priority over modeling following his successful debut. "I have some shoots coming up and all this stuff, a lot of things coming up, but for me, it's more important what's next for me in the UFC," Dulatov said to MMA Junkie and other reporters backstage after UFC 318. "I'll go back to the gym, start a fight camp again and fight someone again." Dulatov made his UFC debut Saturday at Smoothie King Center in New Orleans when he knocked out Adam Fugitt (10-5 MMA, 2-3 UFC) in the first round of their contest and won a $50,000 Performance of the Night award for his efforts. "I think it doesn't compare to reality because it's better than what I had in mind," Dulatov said. "It's an unbelievable feeling, really. I trained so hard for this. Almost over 10 years of my life, so yeah." Dulatov promises to be a serious threat at 170 pounds. However, he wants to take his time on his way up the ladder and doesn't want to rush anything now that he's made it to the UFC. "I'll be honest with you guys, I want to take my time for this," Dulatov said. "I made big steps in each fight, and it will take as long as it takes. I waited so long for this opportunity to fight in the UFC, two years or something like that. I want to fight for the title. I'm on my prime, and we'll get there soon."
