Gucci

EU fines Gucci, Chlo and Loewe €157m for luxury price-fixing scheme

The European Commission has fined luxury fashion houses Gucci, Chlo and Loewe over 157 million euros (nearly USD 183 million) for anti-competitive practices restricting independent retailers' ability to set prices for their luxury goods. The Commission said the companies' fixing of resale prices breached the bloc's competition rules, harmed consumers and would not be accepted. The decision sends a strong signal to the fashion industry and beyond that we will not tolerate this kind of practice in Europe, and that fair competition and consumer protection apply to everyone, equally,' commission vice president Teresa Ribera said in a statement on Tuesday. The commission said that the three brands restricted the ability of independent retailers to set their own prices for high-end apparel, leather goods, footwear and accessories sold both online and in physical stores. The brands required the retailers to stick to recommended retail prices, set maximum discount rates as well as periods

Renault CEO Luca de Meo quits, likely to become head of Gucci-owner Kering

De Meo's unexpected departure marks the second top-level exit from a European carmaker in six months, after Carlos Tavares resigned from Stellantis

Is India next luxury superpower? Hublot CEO bets on strategy, innovation

At BS Manthan, Hublot CEO Julien Tornare delved into what it takes to build a global luxury powerhouse, why authenticity and innovation matter, and whether India can create its own LVMH

Gucci, Louis Vuitton sales skyrocket in Tier-II, III cities as demand rises

E-commerce, travel retail, and rising consumer aspirations beyond metro markets are driving the surge in demand for luxury brands. Online sales from smaller towns have doubled compared to last year

As bitcoin soars, luxury brands consider accepting crypto payments

Until recently, only a handful of luxury brands including LVMH watch labels Hublot and Tag Heuer as well as Kering-owned fashion brands Gucci and Balenciaga have experimented with crypto payment offer

Hermes reports 11.3% growth in Q3 sales, outshining luxury rivals

"We see Hermes as the best current opportunity to protect the portfolio from a difficult (second half of 2024)" suffering from a global cyclical slowdown exacerbated by structural issues in China,"

Top headlines: Sovereign wealth funds bullish on RRVL,Tata steel and more

Business Standard brings you the top headlines at this hour

LVMH, Gucci to expand in India with new outlets in Reliance's luxury mall

The mall, which an industry source said is likely to open this year, is located inside Reliance's $1 billion business and cultural hub in Mumbai

Style statement that goes with you everywhere: shopping for luxury handbags

They should hold your daily-use items and match the culture of your workplace

Gucci's CEO is stepping down as its French parent shakes up leadership

The president and CEO of Gucci is stepping down later this year, the latest shakeup to the luxury fashion brand and coming as part of a series of changes to its parent company, the French conglomerate Kering. Marco Bizzarri will depart the Italian design house in September after eight years at the helm, with Kering saying on Tuesday that he "masterminded the execution of Gucci's outstanding growth strategy since 2015". He was part of Kering's leadership for 18 years. Bizzarri will be replaced by Jean-Francois Palus, who is now Kering's managing director. Palus will be tasked with strengthening Gucci's teams and operations as the brand rebuilds influence and momentum, according to the company's statement. Historically, Gucci accounted for most of Kering's profits, but it has been under some scrutiny after underperforming rivals. Kering also said it was promoting Yves Saint Laurent President and CEO Francesca Bellettini as deputy CEO for brand development, managing all of its fashion

Gucci powers forecast-beating sales growth in fourth quarter for Kering

The strong comeback by Gucci after a disappointing third quarter will come as a relief for Kering, as the label accounts for 60% of its revenues and around 70% of its profits

Facebook, Instagram are hot spots for fake Louis Vuitton, Gucci and Chanel

Research, led by social media analytics firm Ghost Data and shared exclusively with Reuters, showed counterfeiters hawking imitations of luxury brands including Gucci, Louis Vuitton, Fendi, and Prada

Gucci releases new cases for Apple AirPods at a starting price of $460

Popular Italian fashion brand Gucci has released two new cases for Apple AirPods at a starting price of $460

Grow or die: Churn, disruption and agility are key takeaways of the decade

Churn, disruption and agility are the key takeaways of the decade

Meet Patricia Gucci, the woman whose name comes with baggage

Patricia Gucci stayed away from luxury for more than 20 years. But now she has a high-end luggage label

Late entrant Gucci to tighten its grip on e-commerce operations

Across the luxury goods industry as a whole, e-commerce accounts for around 10 percent of business today and should reach 25 percent of sales by 2025

What Gucci can teach the Democrats

It is the educated consumer who caused an epiphany on both the high street and the haute street

From Gucci, Chanel to Adidas, Kylie Jenners - Know 2016's fashion, trend setters

This year Kylie Jenner kept the Balmain-clad Kardashian klan in the lime light