Burberryâs change of leader should not mean a whole new wardrobe
Marco Gobbetti turned the luxury brand around. Investors at this weekâs AGM will want his successor to follow suit
An updated trenchcoat using Burberryâs classic check is an example of a refresh of the brand under outgoing chief executive Marco Gobbetti. Photograph: Streetstyleshooters/Getty Images
An updated trenchcoat using Burberryâs classic check is an example of a refresh of the brand under outgoing chief executive Marco Gobbetti. Photograph: Streetstyleshooters/Getty Images
Sat 10 Jul 2021 19.05 EDT
Investors were shaken last month to learn that Burberry boss Marco Gobbetti was quitting to return to Italy after almost five years at the helm of the British luxury brand, news that led to the shares falling nearly 9%.
LVMH: Kursziel 800 Euro!
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Burberry s Gobbetti Steps Down to Take Top Ferragamo Job
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Bernard Arnault Becomes Worldâs Richest Person As LVMH Stock Rises
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French fashion tycoon Bernard Arnault is the worldâs richest person this Monday, with an estimated net worth of $186.3 billionâputting him $300 million above Jeff Bezos, who is worth $186 billion, and Elon Musk, worth $147.3 billion.
Arnaultâs fortune has jumped from $76 billion in March 2020 to $186.3 on Monday, a massive rise of over $110 billion in the past 14 months, thanks to a pandemic defying performance by his luxury group LVMH (Louis Vuitton Moët Hennessy).
LVMH, which also owns household names like Fendi, Christian Dior and Givenchy, rose 0.4% during the first hours of trading on Monday, putting its market cap at $320 billion and pushing Arnaultâs personal stake up by more than $600 million.
Friday, 23 Apr 2021 09:07 AM MYT
A LVMH luxury group logo is seen prior to the announcement of their 2019 results in Paris, France, January 28, 2020. Reuters pic
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MILAN, April 23 French luxury goods group LVMH will increase its stake in fashion company Tod’s to 10 per cent, Tod’s said on Thursday, in a move which sources described as “friendly support” for the Italian struggling leather goods maker.
Tod’s said in a statement that LVMH would buy a 6.8 per cent stake from Tod’s founder and Chairman Diego Della Valle. LVMH, led by French billionaire Bernard Arnault, already owned a 3.2 per cent stake in Tod’s.