The UK luxury group Burberry said on Tuesday its full year revenue was flat, 2,9 billion pounds in the fiscal year 2024 ending March 2024.
The sales in Asia Pacific were 1286 million pounds compared to 1297 million pounds year ago. In EMEA the sales were 1017 million pounds conpared to 1004 million pounds year ago. The sales fell 19% in Americas to 603 million pounds compared to 743 million pounds.
Burberry said its mainland China sales increased 2% in the year and during the Q4 the sales fell 19%. Japan increased sales 25% in the year.
The operating profit fell to 418 million pounds from 634 million pounds year ago. EPS fell 41% to 73,9 pounds per share from 126,3 pounds per share.
Burberry says it is strenghtening its distribution network and focuses on storytelling of Modern British Luxury. Burberry reaffirms that the external environment is still uncertain.
The company expects the wholesale sales to fall 25% during the first half.
The US fashion and beauty group Estee Lauder said its net sales increased 5% to 3,94 billion dollars during the Q3 fiscal 2024 ending March 31st 2024.
According to the release operating income increased 79% to 531 milllion dollars and EPS increased to 0,91 dollars per share from 0,43 dollars per share year ago.
The company recorded double-digit growth in Europe, Middle East and Africa.
Estee Laudet said it will remain focused on long-term growth. It said it will reduce the net sales outlook range, but maintain the outlook. The company said it has started its Profit Recovery Plan as planned earlier.
The company stock closed down 13,18% to 127,37 dollars in New York.
The French luxury group Hermes said it has opened the doors of its new Bahrain store in Marcissi Galleria waterfront shopping destination in the Middle East.
According to Hermes, the store design reflects the surrounding natural landscape. The form and materials take inspiration from sand and water. Fauborg mosaic of milky blue and beige terazzol tiles in the flooring extend the natural theme.
The French luxury group Hermes said its Q1 sales increased to 3,8 billion euros, up 17%. According to company release, all areas gained doubled- digit growth. The strongest growth, 25%, was in Japan.
Sales in Asia increased otherwise 14%, Americas 12%, Europe 15% and France 14%.
Hermes leather goods increased to 1,6 billion euros, growth 20 3%. Ready to wear increased to 1,1 billion euros, up 15,9%.
Silk and textiles increased to 242 million euros, others to 505 million euros. Perfumes increased to 130 million euros and watches to 166 million euros.
Hermes stated also that it confirms the ambitious growth goal for revenue growth this year.
The company said it is increasing production capabilities in four places in France during the next four years. Riom will open this year, Charente next year, Gronde in 2026 and Artennes in 2027.
The French luxury group Kering said, the Gucci sales drop with 21% during the Q1 will impact the first half operating income down by 49-45%. Kering announced its sales figures on Tuesday.
According to the release Gucci sales was 2079 million euros during the first quarter while year ago the revenue were 2616 million euros.
Yves Saint Laurent sales were 740 million euros compared to 806 million euros year ago. Bottega Veneta revenue was 388 million euros compared to 395 million euros year ago.
The business was in line in Europe, North America and Japan, but Asia-Pacific was down due to the several changes in the company. Gucci sales was partly impacted with the changes in creative works.
Kering stock closed to 350,20 euros, up 1,13% in Paris today. The stock has declined by 10,90% during this year.
During the first quarter Kering has bought two major luxury properties in New York and in Milan. It has also achieved Triple A for its climate work.
The luxury company deal between the US companies Tapestry and Capri is being block by the national regulator. The regulator says the deal would eliminate direct head- to-head competition between the brands. The brands included in the deal are for example Coach, Versace, Jimmy Choo and Michael Kors.
Tapestry offered to buy Capri in August and the deal has got clearance from the EU and Japan so far. The deal value was 8,5 billion dollars or 57 dollars per Capri share.
Tapestry closed Monday at 40,30 dollars, up 5,61% this year in New York. Capri’s share closed at 37,16 dollars, down 24,55% this year.
The companies said in last August that the new luxury giant would employ 33.000 people. Deal synergies were said to be 200 million dollars within three years. In spite of the blocking, majority of analysts expect the deal to be cleared by August this year, according to Reuters.
The Italian fashion company Brunello Cucinelli said its Q1 2024 sales were 309 million euros, up 16,5% from year ago.
The company sales in Americas increased to 114 million euros, up 19,5% and sales in Europe to 108 million euros, up 13,9%. In Asia sales increased to 86 million euros, up 16%.
The company stock has increased 10,3% this year in Milan Stock Exchange.
The French luxury company LVMH reported its Q1 2024 sales figures on Wednesday. According to the release, revenue decreased 2% to 20,7 billion euros but organic growth increased 3%.
The group’s biggest sector, the leather and fashion, reported 10,49 billion euros of revenue, down 2%. Louis Vuitton, Christian Dior, Loewe and Fendi reported new designs and campaigns during the period.
Wines and spirits reported revenue of 1,9 billion euros, down 16% from year ago. The demand for champagne was down, reflecting normal levels after the pandemic, the group said. Rose wine Minuty estate was included for the first time to the reporting.
Perfumes & cosmetics reported 7% organic growth to 2,18 billion euros with new fragrances and products from Christian Dior, Guerlain and Givency.
Watches and jewellery declined 5% (2% organic decline) to 2,46 billion euros. Tiffany & co continued its new global rollout of its new store concept. New watches and jewellery were presented at the LVMH Watch week.
The company stock closed up 2,84 % to 804 euros in Paris Stock Exchange today after the announcement.
The Peninsula London rooftop restaurant is having a lunch menu with two Michelin stars: the Conorde menu. According to luxury hotel, the menu is about the modern British gastronomie integrated with the innovative flavours from regional producers.
A nice detail includes also the reproduced furnishings from the original Concorde lounge that are also displayed throughout the restaurant.
Chief Director Claude Bosi in Peninsula London. Picture: Peninsula London
-Brooklands by Claude Bosi, the striking rooftop restaurant at The Peninsula London, is pleased to announce the debut of the Concorde Lunch: a menu of modern British preparations inspired by the bold innovation of its namesake supersonic jet, the luxury hotel Peninsula London says.
– Featuring the finest seasonal ingredients from regional producers, the three-course menu invites diners to embark on a sublime gastronomic voyage of the United Kingdom. The new offering reflects both the restaurant’s commitment to British artisanship, and to the culinary excellence that recently earned it two Michelin stars, Peninsula London says.
Created by Chef Director Claude Bosi and Chef de Cuisine Francesco Dibenedetto, the menu starters include a choice of Mora Farm beetroot with stracciatella and black cardamom or St. Austell Bay mussels with cider and three-cornered garlic.
– Main dishes include veal cheek accompanied by smoked blanquette and pickled red onion, and Cornish cod with Koshihikari rice and a citrus velouté. Indulgent desserts – such as Ringden Farm quince with cocoa mucilage ice cream and a Moscato emulsion; or a selection of locally-sourced Risely and Spenwood British cheeses – ensure a memorable finish, Peninsula London says.
And what about the wines? – Curated by Head Sommelier Gioele Musco, the list carefully balances modernity and tradition, highlighting a selection of French vintages alongside an expansive list of New World wines, it says.
The Concorde menu is available from Tuesday to Saturday between noon and 1:30 pm and is priced at 58 pounds for three courses.
The Peninsula Boutique and Cafe cakes in the Lobby. Pictures: Peninsula London
The Lobby, the refined, all-day restaurant, is also having its traditional afternoon tee with the cafe-cakes. The variety of afternoon cakes is enormous.
The luxury hotel is located in the Grosvernor Place 1, London, in the heart of Belgravia, in the corner of Hyde Park and Wellington Arch.
The Lobby in the 5 stars luxury hotel. Picture: Peninsula London.
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