LVMH Sees Big Profits, Dior Gains Despite Galliano’s Demise

LVMH Moët Hennessy Louis Vuitton has recorded significant revenue gains for the first half of 2011.

The world’s largest luxury conglomerate saw revenue of €10.3 billion ($14.9 billion) in the first half of 2011, up 13% from last year. Profits were €2.2 billion, up 22% from 2010.
Bernard Arnault, chairman and CEO of LVMH, credited strong brand appeal, consumer attraction to artisanal products and simple business strategy with prompting the growth.

“The first half was marked by the agreement with the Bulgari family to strengthen the long-term growth of the famous Italian Maison,” Arnault said in a press statement. “We approach the second half of the year … relying upon the creativity and quality of our products as well as the effectiveness of our teams to pursue further market share gains” in both historical and emerging markets.

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Roberto Cavalli to open 85 stores in China

Roberto Cavalli said it will open 85 new stores in China within the next five years under a deal signed on Tuesday with Shanghai-based retail giant UCCAL Group.
The company will open its first stores under the new deal in Beijing and Shanghai between late 2011 and early 2012, it said in a statement.
The venture will be called Roberto Cavalli China and will be owned 75 percent by the Roberto Cavalli Group and 25 percent by UCCAL.


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Pierre Cardin wants to sell business for 1 bln euros

French fashion legend Pierre Cardin is ready to sell his group and will seek one billion euros (1.46 billion U.S. dollars).
“I want to sell it now,” Cardin, 88, told the Wall Street Journal. “I know I won’t be here in a few years and the business needs to continue.”
Cardin, who has no heirs, said he wants to stay on as creative director, explaining that it would be in the buyer’s interest “for the brand’s image.”


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