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Revenue for the French luxury conglomerate amounted to €44.7 billion in 2020, down 17%, with the Fashion & Leather Goods category recording double-digit growth in the last two quarters.
ILM reports that retail comparable store sales for the British fashion brand declined 9% as planned reductions in markdown and reduced tourist traffic in outlets are reported to have offset high single-digit full-price sales growth. (Editor´s Note: this is a good performance considering retail disruption due to the pandemic)
Sales of luxury goods in China increased 48% in 2020 to CNY346 billion (US $53.5 billion), with leather goods performing particularly well, reports ILM.
The Kering-owned luxury fashion brand has abruptly shut down its accounts on various social media platforms, such as Instagram, Twitter and Facebook, reports ILM.
Luxury group LVMH announced on January 7 that its bid to acquire US brand Tiffany was complete, reports Leatherbiz.
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