Investment Management
* Marriott International Inc., Starwood Hotels & Resorts Worldwide Inc. and Hilton Worldwide Inc. are turning to Africa, where a growing middle class and rising travel are fueling the fastest pace of hotel development in the world. * Marriott has increased the number of hotel rooms it plans on the continent by 55 percent from […]
* LVMH Moet Hennessy Louis Vuitton SA, the world’s largest luxury-goods maker, says its sales of jewelry and watches have dropped in mainland China and are being offset by Chinese nationals buying overseas. * Sales to Chinese consumers are performing “fairly well” as shoppers increasingly travel to Hong Kong, Taiwan, Macau and Dubai, as well […]
* LVMH acquires 80% of Loro Piana, is a strategic move to diversify, add high-end luxury brands, analysts say. • Barclays: May give extra pillar of growth to Fashion & Leather Goods unit; co.’s shr price dependent on Louis Vuitton brand • Morgan Stanley: LVMH remains top pick in luxury brands; shows focus on premium […]
* LVMH Moet Hennessy Louis Vuitton SA agreed to pay 2 billion euros ($2.57 billion) for 80 percent of Italian cashmere clothier Loro Piana SpA, adding a high-quality textile producer to its burgeoning portfolio of luxury brands. * The transaction, which is subject to approval by competition authorities, values Quarona, Italy-based Loro Piana at 2.7 […]
* LVMH, the world’s largest luxury goods group, has bought a majority stake in Milanese coffee house Cova, once the haunt of composers Giacomo Puccini and Giuseppe Verdi, located at the centre of the city’s costly “golden grid” of luxury shopping streets * The acquisition of Cova, which was founded in 1817, comes as the […]
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