Fashion Startup Founder Pleads Guilty in $300 Million Fraud
Christine Hunsicker admitted she falsified financial statements to promote CaaStle Inc. as a valuable, growing business when in reality it was struggling.
Zurich, Switzerland
Luxury
Richemont Rides Out Tariffs, Gold Prices with Sales Beat
The Swiss group reported sales up 14 percent in its latest quarter, smashing expectations amid “unprecedented” headwinds including currency movements, rising gold prices and US tariffs.
Richemont Rides Out Tariffs, Gold Prices with Sales Beat
The Swiss group reported sales up 14 percent in its latest quarter, smashing expectations amid “unprecedented” headwinds including currency movements, rising gold prices and US tariffs.
Luxury
Swiss Watchmakers Rise on Optimism Over Possible Cut in Trump Tariffs
Shares in Richemont and Swatch Group rose after US president Donald Trump said he was working with Switzerland on a deal to lower the 39 percent tariff rate on Swiss imports.
Swiss Watchmakers Rise on Optimism Over Possible Cut in Trump Tariffs
Shares in Richemont and Swatch Group rose after US president Donald Trump said he was working with Switzerland on a deal to lower the 39 percent tariff rate on Swiss imports.
Retail
Swatch to Hike Prices in US Due to Tariffs, CEO Says
The Swiss watch company plans to increase prices in the US between 5 percent and 15 percent, depending on the brand, because of the new US tariff.
Swatch to Hike Prices in US Due to Tariffs, CEO Says
The Swiss watch company plans to increase prices in the US between 5 percent and 15 percent, depending on the brand, because of the new US tariff.
Retail
Swatch Sells Watch Lampooning Trump’s 39% Tariffs on Switzerland
The Swiss watchmaker has launched the ‘what if…tariffs?’ watch with reversed numbers three and nine, mocking the 39 percent tariffs imposed by the US on Swiss imports.
Swatch Sells Watch Lampooning Trump’s 39% Tariffs on Switzerland
The Swiss watchmaker has launched the ‘what if…tariffs?’ watch with reversed numbers three and nine, mocking the 39 percent tariffs imposed by the US on Swiss imports.
ADVERTISEMENT
Luxury
Swiss Watch Giant Navigates Trump’s Tariff Uncertainty
Swatch Group CEO Nick Hayek has front-loaded shipments to the US, is targeting American shoppers as they travel abroad and has raised its prices as it grapples with a new 39 percent US tariff on Swiss-made products.
Swiss Watch Giant Navigates Trump’s Tariff Uncertainty
Swatch Group CEO Nick Hayek has front-loaded shipments to the US, is targeting American shoppers as they travel abroad and has raised its prices as it grapples with a new 39 percent US tariff on Swiss-made products.
Luxury
Richemont's Farfetch Deal to Further Boost Strong China Sales
The Cartier owner posted an 82 percent drop in net profit for its first half to September 30 despite a 78 percent jump in Chinese sales.
Richemont's Farfetch Deal to Further Boost Strong China Sales
The Cartier owner posted an 82 percent drop in net profit for its first half to September 30 despite a 78 percent jump in Chinese sales.
Luxury
Richemont Chairman Warns Company Must Be Cautious With Cash
Johann Rupert said the pandemic hit the watch and jewellery maker's cash flow, making it necessary to halve its dividend to 1 Swiss franc per share.
Richemont Chairman Warns Company Must Be Cautious With Cash
Johann Rupert said the pandemic hit the watch and jewellery maker's cash flow, making it necessary to halve its dividend to 1 Swiss franc per share.
Luxury
Richemont to Ask Shareholders for Conditional Share Capital Increase
The Cartier-owner seeks to preserve cash during the pandemic having already halved its dividend.
Richemont to Ask Shareholders for Conditional Share Capital Increase
The Cartier-owner seeks to preserve cash during the pandemic having already halved its dividend.
ADVERTISEMENT
Retail
Swatch Group Posts Its First Half Year Loss
The Swiss watchmaker reported a net loss of $327 million in the first half of 2020 and saw sales drop 46.1 percent.
Swatch Group Posts Its First Half Year Loss
The Swiss watchmaker reported a net loss of $327 million in the first half of 2020 and saw sales drop 46.1 percent.
Retail
Can Roger Federer Help Build the Next Big Sportswear Brand?
The tennis legend and cult running shoe label On are launching a sneaker together. In the latest edition of the BoF Podcast, Federer shares what's next.
Can Roger Federer Help Build the Next Big Sportswear Brand?
The tennis legend and cult running shoe label On are launching a sneaker together. In the latest edition of the BoF Podcast, Federer shares what's next.
Workplace & Talent
Richemont Human Resources Director Leaves Executive Committee
Sophie Guieysse will be stepping down from the committee but will reportedly stay on in her HR role, despite mounting employee anger over executive compensation.
Richemont Human Resources Director Leaves Executive Committee
Sophie Guieysse will be stepping down from the committee but will reportedly stay on in her HR role, despite mounting employee anger over executive compensation.
Luxury
Richemont Reports 67% Drop in Annual Profit
Chairman Johann Rupert estimates up to three years of grave economic impact of Covid-19 on the Swiss luxury group.
Richemont Reports 67% Drop in Annual Profit
Chairman Johann Rupert estimates up to three years of grave economic impact of Covid-19 on the Swiss luxury group.
The News in Brief
Victoria’s Secret Forecasts Its Best Year Since L Brands Split
The underwear company is anticipating net sales of at least $6.85 billion in the current fiscal year, exceeding analyst estimates and marking the highest revenue since its split from L Brands Inc in 2021.
Uniqlo Aims to Grow Tenfold in India With Summer-Centric Clothes
The Japanese brand is accelerating its expansion in India to capture a greater share of the rapidly growing apparel market and affluent consumer base.
Oasis Pressures Kao in Latest Japan Activist Investor Push
Activist fund Oasis Management Co. is calling on the Japanese personal care company to convene an extraordinary general meeting, seeking a probe into its supply-chain risk management and internal control.
American Eagle Forecasts Sales Growth Above Estimates on Demand From Wealthy Shoppers
The retailer surpassed annual sales forecasts but expects a $60 million drag from import tariffs in the first half of 2026.
Missoni Family Exits Namesake Brand
The transaction gives FSI, a Milan-based private equity fund, a controlling share in the Italian luxury house, as more founder-owned brands turn to investors to fund growth and weather a tough global market.
Ross Stores Forecasts Annual Sales Above Estimates on Resilient Demand for Discounted Apparel
Spend growth at off-price chains is among the strongest in retail, with gains across all income segments.
Abercrombie & Fitch Forecasts Muted Annual Sales Amid Tariff Uncertainty
The retailer said it was accounting for the 15 percent tariff announced by US president Donald Trump after the Supreme Court struck down most of his earlier tariffs.