Italy's luxury fashion groups, which for decades jealously guarded their independence, have started teaming up to protect their supply chains and the Italian roots of smaller companies, showing a new spirit of collaboration.
British luxury fashion brand Burberry reported an 18% rise in first-quarter comparable store sales on Friday, meeting market expectations thanks to a continued rebound in China.
Levi Strauss & Co cut its annual profit forecast on Thursday, in a sign that higher costs were weighing on the denim clothing maker's margins as it struggles with falling sales at its wholesale channels in North America.
LVHM chief Bernard Arnault is set to visit China, two sources told Reuters on Thursday, as European luxury goods makers closely track the pace of recovery of the key market following three years of COVID disruptions.
Canada Goose Holdings Inc , on Thursday struck a cautious note on its business in the United States as luxury spending cooled in the market, overshadowing an upbeat annual sales forecast driven by a recovery in China and sending its shares down about 11%.