Richemont starts financial year with sales growth
Between April and June, Richemont's sales increased by 3 percent to 5.41 billion euros compared to the same period last year. This roughly met average market expectations. Adjusted for currency effects, this represents an increase of 6 percent, the company announced on Wednesday.
The jewellery division grew by 7 percent to 3.9 billion euros. The watch business, on the other hand, declined by 10 percent to 824 million euros.
Richemont reported double-digit growth in Europe, America and the Middle East and Africa. In the Asia-Pacific region, sales remained stable at constant exchange rates. Japan, however, fell short of the high comparative figures from the same period last year. This article was translated to English using an AI tool.
FashionUnited uses AI language tools to speed up translating (news) articles and proofread the translations to improve the end result. This saves our human journalists time they can spend doing research and writing original articles. Articles translated with the help of AI are checked and edited by a human desk editor prior to going online. If you have questions or comments about this process email us at info@fashionunited.com
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The Herald Scotland
5 hours ago
- The Herald Scotland
Bays of Harris group nudges closer to community buy out
Home to around 2,050 people and recently valued at around £1.3 million, it has been at the centre of years of local effort to wrestle it into community hands. Now the Bays of Harris Community Estate Ltd says it has finally reached agreement in principle with the estate owners, to buy it and begin moves to reverse a century of decline. A farmer on Berneray, which falls within the Bays of Harris Estate Described as a 'landmark agreement', it follows several months of 'constructive and respectful engagement' with landlord Rob Hitchcock and three other family members who share ownership of the estate, which includes a large area in the south of Harris and the Isle of Berneray. The estate has 274 crofts in 28 townships and is said to generate £80,000-£100,000 a year from a diverse range of income streams including telecoms masts, fish farm leases, wayleave payments, minerals, sporting and croft rents. However, like many islands in the Outer Hebrides, it has suffered a severe population decline and aging population since the beginning of the 20th century, along with concerns over a lack of affordable housing and investment. In the past, the Hitchcock family, who took over the estate following the death of English industrialist Lord Leverhulme in 1925, had indicated that they would be reluctant sellers. Read more: That led to suggestions in 2022 from former drummer with the punk rock band The Buzzcocks, John Maher, that the land was being used 'like a pension fund'. Maher moved to the area from Manchester in 2002 with his wife, Helen, to become a photographer, car restorer and a key figure in the Bays of Harris Steering Group. Rock star Derek Dick, also known as Fish, of legendary band Marillion, also lives within the estate. The agreement to sell opens the door to the community submitting applications for funding, including a key application set to be made to the Scottish Land Fund. Bays of Harris Estate includes land in the south of Harris and also the Isle of Berneray (Image: Getty Images) The application is expected to be supported by the Fund. Set up in 2000, it has helped communities across Scotland wrestle back a wide array of assets such as pubs, halls and lighthouses, as well as supported notable community buyouts among them the purchase of the island of Gigha, off the west coast of Kintyre, from private ownership. Among its most recent awards was a £352,800 grant to residents of Glenuig in Lochaber to buy their local pub. The Glenuig Inn, now a ceilidh house, can trace its original structure to a historic inn burned down by government soldiers hunting for Bonnie Prince Charlie. Locals at the Glenuig Inn have been given funds to buy their local pub (Image: Supplied) Others include £197,658 to buy three parcels of land on Rousay in Orkney for community facilities, tourism and a community-led island marina and £93,600 for community purchase of Fearn Abbey, one of Scotland's oldest pre-Reformation church buildings. However, there was criticism last year when the Scottish Government cut the Scottish Land Fund by £3.9 million to £7.1 million. Euan Galloway, chair of buyout company Bays of Harris Community Estate Ltd, described the agreement with the Hitchcock family as a 'pivotal moment'. He added: 'This agreement is a significant step forward and reflects a shared commitment to ensuring the long-term future of the Estate is shaped and stewarded by the local community. 'I want to express our sincere thanks to the Hitchcock family for their positive and collaborative approach, and to the residents of the Estate whose support and involvement have brought us to this point.' The estate company has around 150 local members and associate members. It has called for more members to help drive forward the vision for the estate. The development comes two years after the Bays of Harris community voted by 63 per cent to press ahead with moves to buy the land they live on. The vote, in 2022, had a turnout of 70 per cent. The result prompted a shift in stance from the estate owners, with landlord Robert Hitchcock, whose grandfather bought the estate, indicating he would proceed with talks over a potential sale. However, he raised personal concerns at the time about whether community ownership would work. There were also suggestions that the estate owners might consider entering partnerships with the community-based company so they might either retain an interest in some of the estate or lease back certain parts. Mr Galloway added: 'We are committed to keeping our community informed as we move forward with funding, due diligence, and, ultimately, the transfer of the Estate into community hands.' He stressed that residents would have the opportunity to contribute ideas for the Estate's future, and participate in planning and development decisions. Community ownership of the estate would help fill a missing link: both North Harris and West Harris estates are already in community ownership, accounting for 60 per cent of the Harris acreage. Read more: North Harris Estate which spans 25,900 acres and includes Scalpay Island and An Cliseam – Clisham – the highest mountain in the Western Isles, was purchased in 2003 with funding from Scottish Land Fund of £60,330. The community also purchased the adjacent Loch Seaforth Estate in 2006. In recent years, the community owners have created new affordable houses and business units, developed a rangers service and established Isle of Harris Mountain Festival. West Harris Trust was formed in 2008 to purchase three crofting estates belonging to the Scottish Government, covering 18,000 acres of land with 119 residents. Since purchasing the land in 2010 the Trust has released land for housing, created a community hub and invested in several renewables projects to create an income stream. The Bays of Harris estate was formed in 1925 when Lewis and Harris were split into lots and sold off following the death of the previous proprietor Lord Leverhulme. English industrialist Lord Leverhulme bought the Isle of Lewis and South Harris in 1918 and 1919 The Hitchcock family purchased one of the lots which comprises 3 parts: the Bays on the eastern side of Harris, Northton on the west and the Isle of Berneray to the south-west, linked to North Uist by causeway. According to a 2022 Bays of Harris steering group business plan, a community-owned estate could oversee construction of new houses, improve home energy efficiency and support investment in the estate's four community centres. It also highlights potential to invest in the St Kilda Centre at Seallam, the Leverburgh marina and in heritage development projects. The estate has a number of old structures and archaeological remains including blackhouses, standing stones, abandoned settlements and ancient churches. It is also credited as the home of the 'Paisley Sisters', Christine and Marion MacLeod, whose training in weaving skills in [[Paisley]] led to the production of superior cloth and the birth of the modern Harris Tweed industry.
Scotsman
6 hours ago
- Scotsman
Michael Stewart embraces Hearts statement by Tony Bloom regarding challenging Rangers and Celtic
The pundit embraces Tony Bloom statement regarding challenging the Old Firm Sign up to our Hearts newsletter Sign up Thank you for signing up! Did you know with a Digital Subscription to Edinburgh News, you can get unlimited access to the website including our premium content, as well as benefiting from fewer ads, loyalty rewards and much more. Learn More Sorry, there seem to be some issues. Please try again later. Submitting... Michael Stewart has asked a teasing Hearts and Rangers themed question as Tony Bloom's investment rolls into Gorgie. Most Hearts fans were left delighted when they heard that the majority shareholder at English Premier League side, Brighton and Hove Albion, would be investing £9.86m in their club. He has now made a statement at a question and answer event for the Foundation of Hearts, outlining that he'd be disappointed if at least one league title was not won with Hearts in the next decade. Advertisement Hide Ad Advertisement Hide Ad Bloom also went on to say that it's not good for Scottish football to be a 'one or two club show' and that The Jambos could potentially come second as soon as this season. The statement of intent has gone down a treat with Hearts fans as well as with supporters across the board of non old firm sides. Former Hearts midfielder turned outspoken pundit, Michael Stewart believes the statement from Bloom was a positive one and is refreshing for the Scottish game. Whereas his Premier Sports Social Club counterpart and former Rangers man, Alan Hutton wasn't so sure. Stewart believes Bloom statement will breed 'greater interest' in Scottish game Speaking on the Social Club, Stewart said: 'Forget even about Hearts fans, remember the way neutrals felt when Aberdeen went on an unbelievable run at the start of last season, it is exactly what is needed, I could not agree more with what Tony Bloom is saying. 'Greater competition breeds greater interest and it is brilliant to hear. Also you are talking about a guy who has a track record with clubs that he has been involved with, the main one being Union Saint Gilloise, he's done brilliant with his connection at Como as well where he's brought in players that have been sold for big money. For him to be coming out and talk about looking to win at least one title in the next decade, I think that is music to the ears of all neutrals in Scottish football.' Advertisement Hide Ad Advertisement Hide Ad Stewart then went on to half-jokingly ask Alan Hutton if he thinks Hearts will win a title before Rangers, to which the former right back responded with a swift 'no.' Bloom's track record speaks for itself Whether you agree with Stewart or not, there is no denying that he is 100% accurate when talking about Bloom's track record. Union Saint Gilloise hadn't won a Belgian top tier title for 90 years and were languishing in the second division before Bloom came along and transformed them into Pro League champions last year. Furthermore, during his time at Brighton he has turned them into a prominent Premier League side, who are arguably one of the best run clubs in the English top flight. The Seagulls have brought in talent such as Moises Caicedo, Alexis Mac Allister and Leandro Trossard over the past five years and have made a profit of over £200m on these players alone.
Daily Mirror
6 hours ago
- Daily Mirror
Keir Starmer urged to give tourist tax powers to local leaders to boost public services
Greater Manchester Mayor Andy Burnham has previously called for a mandatory 'tourist levy' for those visiting the city with Edinburgh already set to introduce a charge Keir Starmer should give local leaders powers to impose tourist taxes to help fund cash-strapped public services, a new report says. The Autonomy think-tank warns councils across the country lack the powers to respond to the strain on infrastructure caused by tourism. The report's authors say they should be able to establish "tourist taxes", which already exist in some areas of European holiday hotspots including Spain and France. They say: "Such a tax would begin to undo the heavy toll that UK Government austerity has heaped upon local councils over the last decade." It also calls for an "English right to roam" covering woodlands, rivers and the green belt. It follows a warning to Brit tourists planning all-inclusive holidays to Spain. Greater Manchester Mayor Andy Burnham has previously called for a mandatory "tourist levy" for those visiting the city with Edinburgh already set to introduce a charge to raise up to £50million-per-year from July 2026. There are also reports Deputy PM Angela Rayner has been pushing for councils to be allowed to tax tourism. But recently No10 said there are "no plans" for a tourist tax in England. "We have previously said there's no plans to introduce a tourism tax in England," the Prime Minister's official spokesman said. They added: "Places can already choose to introduce a levy on overnight stays through working with their local tourism sector, using the accommodation Business Improvement District model. "Tourism obviously plays an important role in the UK's economy. Inbound tourism is the UK's third largest service export. The UK is the seventh most-visited country in the world, and we're committed to continuing to support the sector." Will Stronge, Chief Executive at the Autonomy Institute, told The Mirror: "Tourism must no longer be treated as an extractive industry built on carbon-intensive travel and precarious labour. "That's why we're calling for, amongst other things, the introduction of a local tourist tax: a fair, targeted measure that would fund the maintenance of public services and protects natural environments. "It empowers communities to invest in the infrastructure they sustain but too often see exploited for private gain. This is a vital step toward reducing over-tourism, restoring democratic control, and ensuring that leisure contributes to - rather than undermines - climate and social goals."
