Latest news with #luxurysector
Bloomberg
11-07-2025
- Business
- Bloomberg
A Bargain Rolex Can Still Adorn Your Wrist
Crypto bros are reaching for pricey timepieces once more. After a dramatic boom-and-bust in the values at which luxury watches changed hands over the past five years, the secondary market is past its nadir. But with persistent uncertainty about tariffs and a broader slump in the luxury sector, there's still time to get a decent deal on a Rolex. To recap: Interest in watches exploded during the pandemic, lockdowns prompted people to divert money they would have spent on vacations into luxury goods and the first choice for many men was a watch.
Wall Street Journal
08-07-2025
- Business
- Wall Street Journal
LVMH Taps Michael Burke to Lead Americas Business Amid Trade Uncertainty
Louis Vuitton owner LVMH MC 1.54%increase; green up pointing triangle named Michael Burke as chairman and chief executive of its Americas division, sharpening its focus on the region at a time when the luxury sector navigates waning demand and President Trump's tariffs. The appointment, set to bolster the group's presence in North and South America in a complex period for trade and geopolitics, reflects LVMH's ambition to further invest in the region in coming years, according to a company memo seen by The Wall Street Journal. Burke, who has already take on his new role, will report to Stephane Bianchi, LVMH's managing director.
Bloomberg
19-06-2025
- Business
- Bloomberg
Luxury Supplier MinervaHub Asks Banks to Alter Terms of Its Debt
MinervaHub SpA, a supplier of materials for fashion and accessories, is renegotiating debt terms with lenders as it battles a downturn in the luxury sector. The Milan-based firm is working with bankers at Rothschild & Co. on the talks, according to people familiar with the matter, who asked not to be identified because they're not authorized to speak publicly.
