Luxury goods giant Richemont said Monday that demand fell "dramatically" during the final quarter of 2008, especially in the United States, in the toughest market conditions seen in the group's 20 year history.
Shares in French luxury groups LVMH (LVMH.PA) and PPR (PRTP.PA) fell on Monday after Swiss peer Richemont (CFR.VX) posted weaker-than-expected third-quarter sales and said it saw no recovery for now.
Designers at Milan's menswear fashion week said the global financial crisis remained firmly on their minds as they sought to woo credit-crunched buyers with their designs.
Chanel expects to see continued growth in 2009 but at a slower pace due to the economic meltdown, the head of the company's fashion division Bruno Pavlosky told AFP on Friday.
Independent Swiss watchmaker Rolex expects demand for its timepieces to fall in 2009, its chief executive was quoted as saying on Friday, as consumers' appetite for luxury items wanes. "Last year was an absolute record.
Dolce and Gabbana's next advertising campaign is likely to offend with a portrayal of men praying, say the Italian designers who had to withdraw an advert two years ago when it was branded as humiliating women.
British upmarket jeweller Theo Fennell said on Friday it was expecting a full-year loss after posting a 21 percent fall in Christmas sales and that it was now working on downsizing the business.
Italian designer Roberto Cavalli said he had agreed to sell a minority stake in his fashion house to private equity company Clessidra, a local business daily reported on Thursday.
Italy's tax office has fined fashion designer Valentino 33 million euros (43 million dollars), rejecting his claim that he had transferred residence to London 10 years ago, the weekly Diva reported.
Evoking memories of the 1997 financial crisis, many South Koreans are selling gold jewellery -- even their wedding rings -- amid the economic downturn, merchants said Wednesday.
Tiffany & Co cut its profit forecast again on Wednesday after sales over the holiday season fell 21 percent as the weak economy dealt a hard blow to the upscale jeweler, sending its shares down nearly 7 percent.
Sales at U.S. retailers dropped a steep 2.7 percent in December, government data showed on Wednesday, as a deteriorating economy forced consumers to cut back on spending during the key holiday period.
Upscale retailer Neiman Marcus Group Inc NMRCUS.UL is inviting some of its best and loyal customers to special trunk shows or meetings with designers in hopes they will buy new fashion items at full price.
Pandas turned from China's national icon into a fashion statement as New York designer Vivienne Tam showcased black-and-white outfits at a Beijing show to raise funds for the endangered animal's quake-stricken habitat.
Genesco Inc (GCO.N) forecast bleak same-store sales for the fourth quarter due to deteriorating retail trends across all its segments, including its Underground Station stores and Johnston & Murphy stores.
