Latest news with #demandslump
CNA
29-07-2025
- Business
- CNA
French luxury giant LVMH is exploring sale of Marc Jacobs brand
LVMH is working on a sale of its Marc Jacobs fashion brand as the luxury goods giant contends with a slump in demand, according to people familiar with the matter. The Paris-based conglomerate behind brands including Louis Vuitton, Dior and Moet Hennessy had approached potential buyers including Reebok owner Authentic Brands, about a sale of the fashion label, which it has owned since 1997, two people said. The attempt to offload one of its smaller brands follows a rough stretch for LVMH, which is controlled by French billionaire Bernard Arnault. The group has seen its share price slump 19 per cent over the past year, driven by a downturn in the luxury goods sector. LVMH and its competitors have been hurt by a combination of trade uncertainty affecting consumers around the world, weakening demand from Chinese shoppers and price rises that have turned away US customers. The talks, first reported by The Wall Street Journal, were ongoing and there were no guarantees that a deal will be concluded, the people said. LVMH and Authentic Brands declined to comment. On Jul 24 (Thu) LVMH said its operating profit declined by 15 per cent to just over €9 billion (US$10.44 billion; S$13.42 billion) in the first half of the year, a slightly better performance than analysts had forecast. LVMH's core fashion and leather goods business reported a steep decline in quarterly sales, highlighting continued weak demand for luxury goods after a period of price rises and heightened economic uncertainty. On Thursday's earnings call, Cecile Cabanis, LVMH's finance chief, said the company, known as a serial acquirer, was open to selling brands that do not fit within its portfolio, citing the decision to offload stakes in the Off-White and Stella McCartney fashion labels last year. 'We will not keep brands if we believe they are not a good add-on, or we are not the right operator to operate them,' said Cabanis. LVMH's last big deal was its US$16.2 billion acquisition of US jeweller Tiffany. Founded in 1984 by Marc Jacobs, the eponymous brand is known for its designer handbags and upmarket accessories. Jacobs served as LVMH's creative director between 1997 and 2014.
Bloomberg
28-07-2025
- Automotive
- Bloomberg
Midyear outlook: Asia-Pacific oil refining
This article was written by Bloomberg Intelligence Senior Industry Analyst Henik Fung and Senior Associate Analyst Chia Chen. It appeared first on the Bloomberg Terminal. Asian oil refiners could face stronger margin headwinds in 2H if demand slumps and crude costs spike. Sluggish China exports and industrial activity as a result of US tariffs could deliver a blow to diesel demand. Meanwhile, the availability of more affordable electric vehicles would accelerate wider adoption, weakening gasoline consumption. Escalating MiddleEast tensions could keep the price of oil higher for longer amid widening risk premiums. All these point to a slump in Asia refining margins. BI Asia-Pacific refining peers traded at 0.8x book value as of June 10, below their 10-year average of 1.1x.
Bloomberg
19-06-2025
- Business
- Bloomberg
LVMH Slump Heaps Pressure on Arnault
Luxury goods maker LVMH is reeling from a sharp downturn in the €364 billion ($417.5 billion) personal luxury goods industry, with Chief Executive Officer Bernard Arnault contending with an unprecedented demand slump in China and the threat of steeper US tariffs. Angelina Rascouet reports. (Source: Bloomberg)
Bloomberg
19-06-2025
- Business
- Bloomberg
Erratic Weather Is Hurting Indian Firms in The Biggest Consumer Market
By and Satviki Sanjay Save Some of India's largest companies, already hit by a demand slump, are facing a new threat in wooing the country's 1.4 billion consumers: unpredictable weather. A cooler-than-usual summer this year — followed by the earliest onset of rain since 2009 — has hurt companies selling everything from talcum powder to air conditioners.
