Industry Highlights – Sales Growth Slows for PPR, Canali Opens New Beijing Flagship, Masion Martin Margiela and H&M on Ebay, NIke Sells Umbro, Anglo American Cynthia Carroll Steps Down

Posted on October 26, 2012

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Luxury sales growth slows for PPR in Asia

“PPR, the French group that includes Gucci and Yves St Laurent, reported a slowing rate of sales growth for its luxury goods in previously booming Asian markets, confirming a trend shown recently by rival luxury companies such as LVMH as well as Burberry of the UK.” (FT)
“This week, Italian menswear brand Canali cut the ribbon on its newest Beijing flagship at Seasons Place in Beijing. Attended by three members of the Canali family, Group GM Stefano Canali, Global Commercial Director Paolo Canali, and Global Communications Director Elisabetta Canali, the grand opening event attracted 200 VIPs including actor Huang Xiaoming.” (Jing Daily)
“The collection doesn’t land in stores until November 15, but already a number of items from the Maison Martin Margiela with H&M collaboration are available for purchase on auction site eBay.” (Telegraph)
“Iconix Brand Group has agreed to buy Nike’s Umbro sports apparel and footwear unit for $225m in cash, marking the fashion brand’s second deal with the US sportswear group. Nike announced in May it would divest its Umbro and Cole Haan businesses in an effort to focus on its core Nike brand and its fast-growing Jordan, Converse and Hurley business lines.” (FT)
“Cynthia Carroll, Anglo American’s chief executive and the newly appointed chairman of its De Beers division, has resigned both posts, the company said in a statement on Friday.Carroll, who has been chief executive of the mining giant since 2007, will remain until a successor at Anglo American has been named and an appropriate transition has taken place, the company added.” (WWD)
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