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25 Apr

Kering Eyes Ultra-Wealthy As Results Lag Peers

PARIS – Kering is counting on its wealthiest customers to assist it meet up with its luxury sector peers during what's a transitional 12 months for its star brand Gucci. The French luxury group, which also owns brands including Balenciaga, Saint Laurent and Bottega Veneta, reported Tuesday that sales inched up by 2 percent in the primary quarter, sharply lagging its larger competitors LVMH Moët Hennessy Louis Vuitton and Hermès International. Revenues within the three months to March 31 totaled 5.08 billion euros, representing a rise of 1 percent in comparable terms, amid a decline in revenues in North America and a gradual recovery in China. The modest sales increase got here on the heels of a 2 percent decline within the...
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26 Jan

Positive Fragrance and Price Increases Boost Givaudan’s 2022 Results

PARIS — Business at Givaudan, the world’s largest fragrance and flavors supplier, was boosted in 2022 by its fantastic fragrance activity and price increases. Net profit on the Vernier, Switzerland-based company rose 4.2 percent on-year to 856 million Swiss francs, or $929.9 million, while company sales were up 6.5 percent in local currency and by 5.3 percent on a comparable basis to 7.1 billion Swiss francs. Gilles Andrier, chief executive officer of Givaudan, in a press release called 2022’s environment “difficult,” partially resulting from higher input costs and inbound supply-chain disruptions. “Once more, we've demonstrated our strong give attention to supporting the expansion of our customers through excellent supply-chain performance, whilst at the identical time delivering modern and impactful solutions, that are a...
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