Conglomerates

Ambitious sales targets and lower commissions for some salespeople have led them to defect for competitors, taking some of their loyal clients with them.

Whoever brings home the medals at the Paris Olympics later this month, the French owner of Louis Vuitton and Dior will have a starring role in the games.

The Cartier and Van Cleef & Arpels owner is reshuffling its top management team once again amid wider succession planning.

Acquiring Richemont would catapult LVMH into a completely different stratosphere to the rest of the luxury industry, writes Andrea Felsted.

The stake was described by a source as “small” and part of a broader Arnault family-owned portfolio of investments in publicly listed companies.

An Italian court has placed subsidiaries of the two luxury businesses under external supervision amid an ongoing probe into labour abuses in big brands’ supply chains.

Former Louis Vuitton CEO Michael Burke is stepping back from overseeing LVMH’s sprawling Fashion Group just four months after he was named the unit’s chief executive, BoF has learned.

The fashion giant has been working with advisers to study possibilities for the Marc Jacobs brand after being approached by suitors.

The guidance was issued as the French group released first-quarter sales that confirmed forecasts for a slowdown. Weak demand in China and poor performance at flagship Gucci are weighing on the group.

Consumers face less, not more, choice if handbag brands can't scale up to compete with LVMH, argues Andrea Felsted.

This week, Kering flagged sales were down 20 percent at its flagship brand, knocking confidence in the group’s turnaround strategy. ‘A more drastic solution is required,’ one analyst wrote.

Kering’s first-quarter revenues will likely decline by 10 percent on a comparable basis, the Paris-based luxury group flagged on Tuesday.