LVMH buys back its own shares for 1.5 billion euros

LVMH buys back its own shares for 1.5 billion euros

After achieving record revenues of 79 billion euros in 2022, LVMH plans to acquire its own shares for a maximum amount of 1.5 billion euros, which will subsequently be canceled. This practice could increase the value and net earnings of the remaining shares.

Farfetch remains optimistic despite fourth quarter decline

The platform specialising in #luxury goods #ecommerce posted a slight 3% increase in 2022 turnover to 2.316 billion dollars, compared to 2.256 billion a year earlier. However, the end of the year was negative, with sales falling by -5%.

Positive figures announced at Milan Fashion Week

Fashion week kicked off in Milan with the presentation of the 2023-2024 fall-winter collections. In Italy, the National Chamber of Italian #Fashion is optimistic: this year, the sector's turnover should still grow by 4% compared to 2022.

New financial and strategic initiatives for Kering

Several major financial and strategic initiatives are in the works at Kering . Gucci , the luxury group's flagship, is launching its first major project in Italy dedicated to the #circulareconomy endorsed by the group. The house has set up and coordinated a first hub in Tuscany to reduce the #environmental impact of production.

Valentino releases the second edition of its Valentino Vintage project

Luxury brands are multiplying their efforts to show their #ethical #commitment and move towards a more #responsible purchasing policy. Valentino is launching the second edition of its Valentino Vintage project dedicated to vintage pieces, along with partnerships with fashion and design schools and the opening of three new vintage boutiques.

The boat builder Beneteau posts results in a net growth

The French group BENETEAU has just announced a net increase in 2022 revenue by +23% to 1.5 billion euros. Sales in the fourth quarter even rose by +56.6% at 476 million euros, compared with 2021.

A new age promised by Balenciaga

Demna Gvasalia, the creative director of BALENCIAGA has announced a new vision for the house of the Kering group and a return to a more sober creative approach.

Recorded growth for L’Oréal and Coty driven by fragrances and beauty products

The situation seems optimistic for both companies, with L'Oréal reporting an increase of +18.5% in sales compared to 2021 and strong Q2 sales performance for Coty despite the business exit from Russia and the inflationary environment.