The FTC argued at an eight-day trial in New York that the merger would eliminate fierce head-to-head competition between the top two US handbag makers.
The Birkin bag maker reported a hefty rise in third-quarter sales on Thursday, continuing to outperform rivals hit hard by a sharp slowdown in luxury demand.
With the US presidential election just weeks away, concerns are rising about its potential impact on global financial markets, as a close race between Democratic Vice President Kamala Harris and Republican Donald Trump could lead to significant trade policy shifts affecting sectors from European exports to emerging markets.
With the US presidential election just weeks away, concerns are rising about its potential impact on global financial markets, as a close race between Democratic Vice President Kamala Harris and Republican Donald Trump could lead to significant trade policy shifts affecting sectors from European exports to emerging markets.
While Chinese people demonstrated a strong desire to travel domestically during the National Day Golden Week holiday period which ended Monday, they were less keen to spend while travelling.
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In the first nine months of the year, the Swiss beauty firm saw its sales rise to $3.26 billion thanks to robust performance in Europe and gains in China and Latin America.
The consumer goods giant reported sales slightly ahead of expectations, with some growth in prestige beauty, but maintained its modest full-year guidance.
The German beauty conglomerate saw its sales lift ahead of analyst expectations, led by a north American rebound and skincare, but continued pressure in China weighed on overall growth.
Amazon is reportedly implementing strict price caps for a new low-cost storefront, limiting items like jewellery to $8 and guitars to $13, in an effort to compete with discount rivals such as Temu and Shein.
The North Asia region, dominated by China, accounts for a quarter of group sales, but persistently weak demand in the world’s No. 2 economy has curbed consumer spending.
The country’s booming second-hand luxury market is deepening concerns for the likes of LVMH as rising prices and a weakening economy push shoppers to seek cheaper alternatives.
Per The Wall Street Journal, the hedge fund has taken a stake in the ailing consumer products firm, which has seen its stock price slide more than 18 percent since going public last year.
The Italian skiwear specialist showcased its latest round of celebrity and designer collaborations in a series of pavilions in Shanghai on Saturday as it aims to shrug off luxury sector malaise.
