Author: Reuters
Luxury’s mid and long-term prospects remain intact, but short-term recovery hinges on outcome of conflict in the Middle East, LVMH’s chairman said at the company’s annual meeting.
Swiss skincare firm Galderma on Thursday said first-quarter sales jumped 25.5 percent in constant-currency terms to $1.47 billion, and signalled it would be able to manage the impact of US tariffs in 2026.
The French conglomerate’s first-quarter sales rose 6.7 percent as strong demand as strong demand for premium hair products and perfume, particularly in North America and emerging markets, more than offset weakness in the Middle East.
Chinese and Korean demand powered surging sales at the group’s flagship Moncler brand.
Retail sales jumped 1.7 percent last month after an upwardly revised 0.7 percent gain in February.
The owner of La Prairie and Nivea reported a drop in first-quarter organic sales owing to disruptions in major channels like US department stores, Chinese travel retail and its growing Middle Eastern market.
US Customs officials said as of April 9, an amount totalling $127 billion of refunds had been filed for, accounting for over three-quarters of the amount eligible for compensation.
Fabrizio Freda, who led the beauty group for nearly 16 years before retiring in 2024, will advise on strategic decisions and on strengthening operations at the Ferragamo Group and the family’s other businesses.
The British luxury handbag maker said second-half sales rose 13.6 percent and gross margins improved as its new strategy began to bear fruit.
As prestige lines, the fragrances aren’t subject to the strategic review underway for Coty’s other makeup brands as the company attempts to turn around its performance.