luxury

Luxury accessories giant Tapestry Inc (NYSE:TPR) is getting a clear growth split between its key brands, according to JPMorgan analyst Matthew R. Boss. The spotlight firmly shines on Coach, which is staging a notable comeback with a projected 32% upside for the overall company stock by year-end,...

Shares of luxury apparel company Vince Holding Corp. (NYSE:VNCE), are skyrocketing on Thursday. P180, a newly established venture concentrating on expanding growth and profitability in luxury clothes, obtained a controlling interest in the firm. Affiliates of Sun Capital Partners, Inc. executed the...

The luxury market is at a critical turning point, with a clear divide emerging between legacy brands and aspirational players, according to Maurits Pot, CEO of Tema ETFs. In an exclusive interview with Benzinga, Pot emphasized that high-end brands like Hermès International SA (OTCPK: HESAY) and...

Bernard Arnault, the CEO of LVMH Moët Hennessy Louis Vuitton (OTC:LVMHF) (OTC:LVMUY), has seen his net worth drop by $54 billion, moving him from the world’s richest person to nearly fifth place. What Happened: Arnault’s fortune peaked at $231 billion in March, placing him ahead of Elon...

Adam Neumann, the former CEO of WeWork, is facing a crisis with his real estate startup, Flow, as one of its properties in Nashville is experiencing financial difficulties. What Happened: A 358-unit apartment complex in Nashville, one of six properties invested in by Flow, is struggling financially...

The iconic superyacht, Venus, previously owned by Apple Inc.’s late co-founder Steve Jobs, recently collided with another superyacht off the coast of Naples, Italy. What Happened: The Venus, a 78-meter yacht commissioned by Jobs, collided with the 105-meter Lady Moura on Jul. 22, Business...

French luxury businessman Bernard Arnault is poised to see a significant drop in his fortune, potentially by several billion dollars. Nearly half of Arnault’s wealth is tied to his stake in LVMH-Moët Hennessy Louis Vuitton (OTCPK: LVMHF), which saw a nearly 5% decline in over-the-counter...

Travel, especially abroad, has historically been a luxury for most Americans. Despite a tightening labor market and uncertain economic conditions, the number of households traveling abroad has soared nearly 30% as households build wealth. The number predictably fell in 2020 and 2021 during the...

French stocks experienced a mixed trading session Monday as investors assessed the implications of an unexpected left-wing victory in Sunday's second round of legislative elections. At 8:30 a.m. ET, the CAC 40 index, which tracks the forty largest companies in France by market capitalization, was...

The parent company of Saks Fifth Avenue has reportedly agreed to acquire its rival Neiman Marcus for $2.65 billion. The deal, which is expected to be announced imminently, will see the involvement of Amazon.com Inc. (NASDAQ:AMZN). What Happened: The acquisition, which has been approved by the...

The Russian-made luxury car gifted by President Vladimir Putin to North Korean leader Kim Jong Un is reportedly assembled with millions of dollars worth of parts from South Korea. What Happened: The Aurus LLC., the company behind the car, imported components worth at least $34 million from 2018 to...

CNBC’s Jim Cramer has expressed his support for the initial public offering of Viking Holdings Ltd (NYSE:VIK), despite its high valuation. What Happened: Cramer, on his show “Mad Money” on Thursday, discussed the IPO of Viking, a luxury cruise line, which is the largest IPO of the...

The pandemic-induced surge in yacht sales is now showing signs of a reversal, with many buyers from the COVID-19 era now putting their vessels up for sale. This trend has led to a slight drop in prices, signaling a shift in the yacht market. What Happened: The pandemic saw a significant increase in...

Swiss watch exports have experienced a significant decline, particularly in China and Hong Kong, leading to a 52-week low for Swatch Group (OTC:SWGNF) (OTC:SWGAY). What Happened: The exports of Swiss watches have recorded their most substantial drop since 2020, with a significant decrease in demand...

The Chinese government is tightening the noose on debt defaulters, imposing stringent penalties that include restrictions on high-speed rail travel and luxury accommodations. This move is part of a broader crackdown on unpaid bills. What Happened: Beijing is resorting to severe actions against...