Hermes luxury handbags and silk scarves were sold in 2011 like hotcakes. Hermes reported a record year in 2011 with a 40.9-percent rise in net profit which helped push up its shares 3.01 percent in early trading, informs AFP. Hermes reported record sales, and a net result of 594.3 million euros ($787 million). The luxury … Read more
Yoox CEO Federico Marchetti Expects Profitability to Increase in 2012 Italian internet mail order luxury retailer Yoox expects profitability to Increase in 2012. Yoox climbed 8.6 percent, the most in more than eight months, in Milan trading on Feb. 9 after reporting a 36 percent increase in 2011 revenue that exceeded analysts’ estimates. North America … Read more
Luxury brands have continued to enjoy strong sales despite world economic concerns. French luxury group Hermes said to AFP it posted record sales of 2.8 billion euros in 2011, highlighting the resilience of luxury brands in the face of the weakening global economy. French luxury goods giant LVMH said last week it had enjoyed a … Read more
South Korea’s Samsung Group announced it would invest a record 47.8 trillion won ($41.56 billion) in 2012 and hire an all-time high of 26,000 new employees despite global economic gloom. The country’s largest conglomerate said in a AFP statement that despite the worldwide uncertainty it wants to expand future growth engines and contribute to the … Read more