What are famous French luxury brands doing to combat coronavirus?

<a href="https://www.wionews.com/entertainment/luxury-brands-group-lvmh-targets-tourist-shoppers-with-revamp-of-historic-paris-store-263262">LVMH</a> has agreed a $16.2 billion deal to buy US&nbsp;jeweller Tiffany, Louis Vuitton's parent firm confirmed on Monday, in the luxury good maker's biggest purchase to date.

The deal will boost LVMH's smallest business, the jeweller and watch division, home to Bulgari and Tag Heuer.

Fashion and accessories brands including <a href="https://www.wionews.com/entertainment/luxury-brand-christian-dior-apologises-for-china-map-excluding-taiwan-256487">Christian Dior</a> generate the bulk of the earnings at the conglomerate, which is run by France's richest man, Bernard Arnault.

"The <a href="https://www.wionews.com/entertainment/french-luxury-giant-lvmh-in-talks-to-take-over-us-jewellers-tiffany-258600/amp">acquisition of Tiffany</a> will strengthen LVMH's position in jewellery and further increase its presence in the United States," LVMH and Tiffany said in a joint statement.

Tiffany CEO Alessandro Bogliolo said the transaction would "provide further support, resources and momentum."

The companies said they expected to close the deal in mid-2020.

The swoop on Tiffany, which involved revised offers from LVMH after its original $120 per share bid in October, comes amid an attempted turnaround for the jewellery chain.

Founded in New York in 1837 and known for its signature robin's egg blue packaging, the brand is one of the best-known names in the sector, but has struggled to win over younger shoppers in recent years.

It now also has to contend with shifting spending patterns as Chinese shoppers retreat from the United States and spend more at home.

LVMH has agreed a $16.2 billion deal to buy US jeweller Tiffany, Louis Vuitton's parent firm confirmed on Monday, in the luxury good maker's biggest purchase to date.

LVMH has agreed a $16.2 billion deal to buy US jeweller Tiffany, Louis Vuitton's parent firm confirmed on Monday, in the luxury good maker's biggest purchase to date. The deal will boost LVMH's smallest business, the jeweller and watch division, home to Bulgari and Tag Heuer. Fashion and accessories brands including Christian Dior generate the bulk of the earnings at the conglomerate, which is run by France's richest man, Bernard Arnault. "The acquisition of Tiffany will strengthen LVMH's position in jewellery and further increase its presence in the United States," LVMH and Tiffany said in a joint statement. Tiffany CEO Alessandro Bogliolo said the transaction would "provide further support, resources and momentum." The companies said they expected to close the deal in mid-2020. The swoop on Tiffany, which involved revised offers from LVMH after its original $120 per share bid in October, comes amid an attempted turnaround for the jewellery chain. Founded in New York in 1837 and known for its signature robin's egg blue packaging, the brand is one of the best-known names in the sector, but has struggled to win over younger shoppers in recent years. It now also has to contend with shifting spending patterns as Chinese shoppers retreat from the United States and spend more at home.

LVMH agrees $16.2 billion deal for jeweller Tiffany

Luxury goods group LVMH aims to grab a greater slice of tourist spending in Paris as of next April when it relaunches La Samaritaine, a 150-year-old department store that will house a hotel and shops and rival the likes of Galeries Lafayette.

Spending by visitors to France remains a major source of income for high-end brands, even if Chinese shoppers, the industry's number one clientele, are starting to buy more at home, encouraged by import duty cuts among other incentives.

LVMH, behind fashion and accessories labels like Louis Vuitton, makes 8% of its sales in France alone, and already owns upmarket Parisian department store Le Bon Marche.

Its latest venture, with 20,000 square metres of shopping space, will sit on the banks of the Seine, close to tourist magnets like Notre-Dame Cathedral.

La Samaritaine is famed for its 1920-era building and gilded Art Deco facade but the revamped store will include a 100-metre airport-style moving walkway through a tunnel to nearby parking.

"The environment in Paris is very competitive, we had to differentiate ourselves," Eleonore de Boysson, the Europe and Middle East head of DFS Group said in a presentation on Tuesday.

DFS is a retail and airport duty-free group which is majority-owned by LVMH and primarily present in Asia, including Hong Kong, where operations have been hit by street protests.

Facing competition from online retailers, department stores are reinventing themselves as day-trip destinations.

La Samaritaine, which expects just under 5 million visitors in its first year, will rival peers like Qatari-controlled Printemps and family-owned Galeries Lafayette. Some 37 million shoppers visit the latter's main store in Paris every year.

LVMH, which first snapped up a stake in La Samaritaine in 2001, said it had spent 750 million euros ($830.70 million) on its makeover, which includes a contemporary, wavy glass exterior on one side by Japanese architectural duo SANAA.

The store had to shut its doors in 2005 as its original glass flooring was not sufficiently fire-resistant.

Operators expect half of the shoppers to be made up of tourists from overseas and other parts of France, who will account for a majority of revenue.

The complex will include a luxury rooftop hotel and be home to 96 flats under a social housing scheme.

Luxury goods group LVMH aims to grab a greater slice of tourist spending in Paris as of next April when it relaunches La Samaritaine, a 150-year-old department store that will house a hotel and shops and rival the likes of Galeries Lafayette.

Luxury goods group LVMH aims to grab a greater slice of tourist spending in Paris as of next April when it relaunches La Samaritaine, a 150-year-old department store that will house a hotel and shops and rival the likes of Galeries Lafayette. Spending by visitors to France remains a major source of income for high-end brands, even if Chinese shoppers, the industry's number one clientele, are starting to buy more at home, encouraged by import duty cuts among other incentives. LVMH, behind fashion and accessories labels like Louis Vuitton, makes 8% of its sales in France alone, and already owns upmarket Parisian department store Le Bon Marche. Its latest venture, with 20,000 square metres of shopping space, will sit on the banks of the Seine, close to tourist magnets like Notre-Dame Cathedral. La Samaritaine is famed for its 1920-era building and gilded Art Deco facade but the revamped store will include a 100-metre airport-style moving walkway through a tunnel to nearby parking. "The environment in Paris is very competitive, we had to differentiate ourselves," Eleonore de Boysson, the Europe and Middle East head of DFS Group said in a presentation on Tuesday. DFS is a retail and airport duty-free group which is majority-owned by LVMH and primarily present in Asia, including Hong Kong, where operations have been hit by street protests. Facing competition from online retailers, department stores are reinventing themselves as day-trip destinations. La Samaritaine, which expects just under 5 million visitors in its first year, will rival peers like Qatari-controlled Printemps and family-owned Galeries Lafayette. Some 37 million shoppers visit the latter's main store in Paris every year. LVMH, which first snapped up a stake in La Samaritaine in 2001, said it had spent 750 million euros ($830.70 million) on its makeover, which includes a contemporary, wavy glass exterior on one side by Japanese architectural duo SANAA. The store had to shut its doors in 2005 as its original glass flooring was not sufficiently fire-resistant. Operators expect half of the shoppers to be made up of tourists from overseas and other parts of France, who will account for a majority of revenue. The complex will include a luxury rooftop hotel and be home to 96 flats under a social housing scheme.

Luxury brands group LVMH targets tourist shoppers with revamp of historic Paris store

Louis Vuitton owner LVMH&nbsp;has approached Tiffany &amp; Co with a $14.5 billion acquisition offer, people familiar with the matter said, at a time when the US&nbsp;luxury jeweler grapples with the impact of tariffs on its exports to China.

LVMH, which has for years been looking for ways to expand in the US&nbsp;market, submitted a preliminary, non-binding offer to Tiffany earlier this month, one of the sources said.

LVMH's offer valued Tiffany at about $120 per share, another of the sources added. Tiffany shares ended trading on Friday at $98.55.

Tiffany has hired advisers to review LVMH's offer but has not yet responded to it, and there is no certainty that it will negotiate a deal, according to the sources.

The sources asked not to be identified because the matter is confidential. LVMH and Tiffany declined to comment. Bloomberg News reported earlier on Saturday that LVMH was holding talks with Tiffany.

LVMH, which is behind brands such as Fendi, Christian Dior and Givenchy, as well as Veuve Cliquot champagne, has stood out for several years as one of the top performers in the upscale retail sector, where not all labels are benefiting to the same degree from booming Chinese appetite for branded goods.

Tiffany, on the other hand, has not been as resilient. Beyond the tariffs that have been triggered by the <a href="https://www.wionews.com/world/united-states-china-close-to-finalising-part-of-a-phase-one-trade-deal-report-258209">trade war</a> between the United States and China, a lower Chinese domestic sales tax has also contributed to double-digit decreases in its sales to Chinese tourists in the United States and in other destinations.

High-end brands have also long relied on<a href="https://www.wionews.com/world/protests-erupt-in-hong-kong-police-fire-tear-gas-to-clear-rally-258401"> Hong Kong </a>as a major shopping hub drawing visitors from mainland China in particular, and four months of pro-democracy demonstrations are starting to take their toll.

However, earlier this month LVMH, which has a market capitalization of 194 billion euros, beat sales forecasts for the third quarter despite the unrest in Hong Kong. In August, Tiffany reported quarterly earnings that also beat analysts' expectations, thanks to a drop in marketing costs.

Tiffany has been refreshing its offerings with more affordable items such as pendants and earrings, to appeal to millennials who have been gravitating to lower-priced competitors such as Denmark's Pandora&nbsp;and Signet Jewelers.

Paris-headquartered LVMH is controlled by the Arnault family and is led by Bernard Arnault, France's richest man. Based in New York and best known for its diamond engagement rings, Tiffany operates more than 300 retail stores globally.

Louis Vuitton owner LVMH has approached Tiffany & Co with a $14.5 billion acquisition offer, people familiar with the matter said, at a time when the US luxury jeweler grapples with the impact of tariffs on its exports to China.

Louis Vuitton owner LVMH has approached Tiffany & Co with a $14.5 billion acquisition offer, people familiar with the matter said, at a time when the US luxury jeweler grapples with the impact of tariffs on its exports to China. LVMH, which has for years been looking for ways to expand in the US market, submitted a preliminary, non-binding offer to Tiffany earlier this month, one of the sources said. LVMH's offer valued Tiffany at about $120 per share, another of the sources added. Tiffany shares ended trading on Friday at $98.55. Tiffany has hired advisers to review LVMH's offer but has not yet responded to it, and there is no certainty that it will negotiate a deal, according to the sources. The sources asked not to be identified because the matter is confidential. LVMH and Tiffany declined to comment. Bloomberg News reported earlier on Saturday that LVMH was holding talks with Tiffany. LVMH, which is behind brands such as Fendi, Christian Dior and Givenchy, as well as Veuve Cliquot champagne, has stood out for several years as one of the top performers in the upscale retail sector, where not all labels are benefiting to the same degree from booming Chinese appetite for branded goods. Tiffany, on the other hand, has not been as resilient. Beyond the tariffs that have been triggered by the trade war between the United States and China, a lower Chinese domestic sales tax has also contributed to double-digit decreases in its sales to Chinese tourists in the United States and in other destinations. High-end brands have also long relied on Hong Kong as a major shopping hub drawing visitors from mainland China in particular, and four months of pro-democracy demonstrations are starting to take their toll. However, earlier this month LVMH, which has a market capitalization of 194 billion euros, beat sales forecasts for the third quarter despite the unrest in Hong Kong. In August, Tiffany reported quarterly earnings that also beat analysts' expectations, thanks to a drop in marketing costs. Tiffany has been refreshing its offerings with more affordable items such as pendants and earrings, to appeal to millennials who have been gravitating to lower-priced competitors such as Denmark's Pandora and Signet Jewelers. Paris-headquartered LVMH is controlled by the Arnault family and is led by Bernard Arnault, France's richest man. Based in New York and best known for its diamond engagement rings, Tiffany operates more than 300 retail stores globally.

French luxury group LVMH offers to buy US jeweler Tiffany & Co: Sources

French luxury giant LVMH said on Monday it was in preliminary talks to take over US jewellers Tiffany but there was "no certainty" that they would be successful.

A source close to the talks told AFP at the weekend that LVMH had made a bid for Tiffany at the start of October, but that the iconic US company had yet to respond.

Tiffany, in a separate statement Monday, confirmed "an unsolicited, non-binding proposal" from the French conglomerate, saying it was for $120 per share, which values the company at around $14.5 billion.

Tiffany's stock market value stood at $11.9 billion at the close of Wall Street trading on Friday.

The US company said there were no actual discussions going on but it was "carefully reviewing" the proposal.

LVMH said earlier Monday that "following recent market rumours, the LVMH group confirms having started preliminary discussions about a possible operation with Tiffany".

The purchase of Tiffany by LVMH would be one of the largest acquisitions by the French group, which is a world leader in luxury, present in fashion to wine, perfumes and cosmetics.

LVMH's share price was mildly higher following the announcement, rising 0.3 per cent to 384.90 euros in early afternoon Paris stock trading.

'A girl's best friend'

Tiffany's stock was set to surge by more than 30 per cent, according to pre-market quotes, under an hour ahead of Wall Street's session opening.

This seemed to indicate that traders not only expected the bid to go ahead but that LVMH would sweeten its offer.&nbsp;

LVMH's Bulgari brand -- bought for $5.2 billion in 2011 -- competes with Cartier and Van Cleef &amp; Arpels, both owned by Swiss group Richemont.

"They say diamonds are a girl’s best friend and Europe's richest man, and owner of Louis Vuitton Bernard Arnault, obviously feels that adding US jeweller Tiffany to his list of brands will prompt a similar uplift to LVMH's global revenues," said Michael Hewson, chief market analyst at CMC Markets UK.

"His attempt to put a $14.5 billion ring on Tiffany, having already added Bulgari a couple of years ago, is likely to take the fight in this sector to its closest rival Richemont, who own Cartier, and would help LVMH in gaining better access to US markets," he said.

Hewson added, however, that Tiffany shareholders were "unlikely to accept this initial bid" and could hold out for more.

Tiffany's profits and sales have been hit hard from the fallout in the US-China trade war and unrest in Hong Kong, he noted.

By Friday's close, Tiffany's share price was down nearly eight per cent from its year-earlier level.&nbsp;

The luxury industry is jittery, not just over the trade war but also because of a broad anti-corruption campaign launched by Chinese president Xi Jinping which has put the brakes on extravagant gifts offered by businessmen and bureaucrats.

The discussions between the two companies come after LVMH owner Arnault inaugurated a Louis Vuitton factory in south Texas alongside US President Donald Trump and his daughter Ivanka.

Tiffany's flagship New York store is next to Trump Tower on 5th Avenue.

French luxury giant LVMH said on Monday it was in preliminary talks to take over US jewellers Tiffany but there was "no certainty" that they would be successful.

French luxury giant LVMH said on Monday it was in preliminary talks to take over US jewellers Tiffany but there was "no certainty" that they would be successful. A source close to the talks told AFP at the weekend that LVMH had made a bid for Tiffany at the start of October, but that the iconic US company had yet to respond. Tiffany, in a separate statement Monday, confirmed "an unsolicited, non-binding proposal" from the French conglomerate, saying it was for $120 per share, which values the company at around $14.5 billion. Tiffany's stock market value stood at $11.9 billion at the close of Wall Street trading on Friday. The US company said there were no actual discussions going on but it was "carefully reviewing" the proposal. LVMH said earlier Monday that "following recent market rumours, the LVMH group confirms having started preliminary discussions about a possible operation with Tiffany". The purchase of Tiffany by LVMH would be one of the largest acquisitions by the French group, which is a world leader in luxury, present in fashion to wine, perfumes and cosmetics. LVMH's share price was mildly higher following the announcement, rising 0.3 per cent to 384.90 euros in early afternoon Paris stock trading. 'A girl's best friend' Tiffany's stock was set to surge by more than 30 per cent, according to pre-market quotes, under an hour ahead of Wall Street's session opening. This seemed to indicate that traders not only expected the bid to go ahead but that LVMH would sweeten its offer. LVMH's Bulgari brand -- bought for $5.2 billion in 2011 -- competes with Cartier and Van Cleef & Arpels, both owned by Swiss group Richemont. "They say diamonds are a girl’s best friend and Europe's richest man, and owner of Louis Vuitton Bernard Arnault, obviously feels that adding US jeweller Tiffany to his list of brands will prompt a similar uplift to LVMH's global revenues," said Michael Hewson, chief market analyst at CMC Markets UK. "His attempt to put a $14.5 billion ring on Tiffany, having already added Bulgari a couple of years ago, is likely to take the fight in this sector to its closest rival Richemont, who own Cartier, and would help LVMH in gaining better access to US markets," he said. Hewson added, however, that Tiffany shareholders were "unlikely to accept this initial bid" and could hold out for more. Tiffany's profits and sales have been hit hard from the fallout in the US-China trade war and unrest in Hong Kong, he noted. By Friday's close, Tiffany's share price was down nearly eight per cent from its year-earlier level. The luxury industry is jittery, not just over the trade war but also because of a broad anti-corruption campaign launched by Chinese president Xi Jinping which has put the brakes on extravagant gifts offered by businessmen and bureaucrats. The discussions between the two companies come after LVMH owner Arnault inaugurated a Louis Vuitton factory in south Texas alongside US President Donald Trump and his daughter Ivanka. Tiffany's flagship New York store is next to Trump Tower on 5th Avenue.

LVMH explores takeover of jewellers Tiffany

French luxury giant LVMH said on Monday it was in preliminary talks to take over US jewellers Tiffany but there was "no certainty" that they would be successful.

A source close to the talks told AFP at the weekend that LVMH had made a $14.5 billion bid for Tiffany at the start of October, but that the iconic US company had yet to respond to the offer.

Tiffany's stock market value stood at $11.9 billion at the close of Wall Street trading on Friday.

"Following recent market rumours, the LVMH group confirms having started preliminary discussions about a possible operation with Tiffany," LVMH said in its statement Monday.

The purchase of Tiffany by LVMH would be one of the largest acquisitions by the French group, which is a world leader in luxury, present in fashion to wine, perfumes and cosmetics.

LVMH's share price was mildly higher following the announcement, rising 0.3 per cent to 384.90 euros in mid-morning Paris stock trading.

But Tiffany's stock was set to surge by nearly 20 per cent, according to pre-market quotes on NASDAQ, where it is listed.

LVMH's Bulgari brand -- bought for $5.2 billion in 2011 -- competes with Cartier and Van Cleef &amp; Arpels, both owned by Swiss group Richemont.

- 'A girl's best friend' -

"They say diamonds are a girl’s best friend and Europe's richest man, and owner of Louis Vuitton Bernard Arnault, obviously feels that adding US jeweller Tiffany to his list of brands will prompt a similar uplift to LVMH's global revenues," said Michael Hewson, chief market analyst at CMC Markets UK.

"His attempt to put a $14.5bn ring on Tiffany, having already added Bulgari a couple of years ago is likely to take the fight in this sector to its closest rival Richemont, who owns Cartier, and would help LVMH in gaining better access to US markets," he said.

Hewson added, however, that Tiffany shareholders were "unlikely to accept this initial bid" and could hold out for more.

But Tiffany's profits and sales have been hit hard from the fallout in the US-China trade war and unrest in Hong Kong, he noted.

The luxury industry is jittery, not just over the trade war but also because of a broad anti-corruption campaign launched by Chinese President Xi Jinping which has put the brakes on extravagant gifts offered by businessmen and bureaucrats.

The discussions between the two companies come after LVMH owner billionaire Bernard Arnault inaugurated a Louis Vuitton factory in south Texas alongside US President Donald Trump and his daughter Ivanka.

Tiffany's flagship New York store is next to Trump Tower on 5th Avenue.

French luxury giant LVMH said on Monday it was in preliminary talks to take over US jewellers Tiffany but there was "no certainty" that they would be successful. A source close to the talks told AFP at the weekend that LVMH had made a $14.5 billion bid for Tiffany at the start of October, but that the iconic US company had yet to respond to the offer. Tiffany's stock market value stood at $11.9 billion at the close of Wall Street trading on Friday. "Following recent market rumours, the LVMH group confirms having started preliminary discussions about a possible operation with Tiffany," LVMH said in its statement Monday. The purchase of Tiffany by LVMH would be one of the largest acquisitions by the French group, which is a world leader in luxury, present in fashion to wine, perfumes and cosmetics. LVMH's share price was mildly higher following the announcement, rising 0.3 per cent to 384.90 euros in mid-morning Paris stock trading. But Tiffany's stock was set to surge by nearly 20 per cent, according to pre-market quotes on NASDAQ, where it is listed. LVMH's Bulgari brand -- bought for $5.2 billion in 2011 -- competes with Cartier and Van Cleef & Arpels, both owned by Swiss group Richemont. - 'A girl's best friend' - "They say diamonds are a girl’s best friend and Europe's richest man, and owner of Louis Vuitton Bernard Arnault, obviously feels that adding US jeweller Tiffany to his list of brands will prompt a similar uplift to LVMH's global revenues," said Michael Hewson, chief market analyst at CMC Markets UK. "His attempt to put a $14.5bn ring on Tiffany, having already added Bulgari a couple of years ago is likely to take the fight in this sector to its closest rival Richemont, who owns Cartier, and would help LVMH in gaining better access to US markets," he said. Hewson added, however, that Tiffany shareholders were "unlikely to accept this initial bid" and could hold out for more. But Tiffany's profits and sales have been hit hard from the fallout in the US-China trade war and unrest in Hong Kong, he noted. The luxury industry is jittery, not just over the trade war but also because of a broad anti-corruption campaign launched by Chinese President Xi Jinping which has put the brakes on extravagant gifts offered by businessmen and bureaucrats. The discussions between the two companies come after LVMH owner billionaire Bernard Arnault inaugurated a Louis Vuitton factory in south Texas alongside US President Donald Trump and his daughter Ivanka. Tiffany's flagship New York store is next to Trump Tower on 5th Avenue.

French luxury giant LVMH in talks to take over US jewellers Tiffany

Environmental activist Greta Thunberg's discourse on climate change was overly pessimistic and demoralising for young people, LVMH&nbsp;boss Bernard Arnault said on Wednesday, as the group behind brands like Louis Vuitton raised its "green" goals.

LVMH, the world's biggest luxury goods conglomerate, which like its peers is seeking to improve its environmental credentials and keep young consumers onside, said it was further cutting emissions and improving sourcing on materials like animal fur.

But the group's billionaire owner and CEO Bernard Arnault said he rejected what he called Thunberg's doom-mongering.

The 16-year-old Swedish campaigner berated world leaders and business executives at a United Nations climate summit in New York this week for failing to act more decisively on climate change, saying they had "stolen her dreams."

Her vision "has a demoralising side to it for young people. She's not proposing anyway, aside from criticism," Arnault, 70, told journalists. "I prefer positive solutions that allow us to get towards a more optimistic position."

Fashion and textile groups are under pressure from consumers and environmentalists to try and reduce industrial waste, including unsold clothing, and improve their manufacturing methods.

Luxury companies turn out pricey products that are not mass-produced, but they also face questions on everything from animal welfare to carbon emissions involved in exporting their wares around the world.

Many LVMH fashion brands, which include Fendi, Christian Dior and Givenchy, make accessories such as handbags from exotic skins like python or crocodile.

The group said it was bringing in a charter to ensure full traceability for all of its raw materials by 2025, which would allow it to track them back to precise farms in the case of farmed fur.

Some rivals have dropped fur altogether, including France's Chanel, Britain's Burberry&nbsp;and Kering's&nbsp;Gucci.

LVMH said it was on course to exceed its goal to cover 30% of its energy needs from renewable sources by 2020 and also on track to cut its CO2 emissions by 25% by the same time.

The group was glaringly absent from an industry "fashion pact" launched under the auspices of Kering in August with broad targets to reduce emissions.

Signatories included France's Hermes&nbsp;as well as lower end and sportswear groups like Zara-owner Inditex&nbsp;and Adidas.

Stella McCartney, a pioneer in vegan-friendly fashion and whose namesake brand is now part-owned by LVMH, also backed the agreement.

Arnault said the deal did not make sense for LVMH - beyond clothing brands it also owns champagne labels like Moet &amp; Chandon - and that its business model was a world away from that of fast fashion firms.

"We prefer action to pacts," Arnault said.

Younger luxury consumers - including the "millenials" in their late 20s and mid-30s who are driving industry sales - are more readily influenced in their purchases by sustainability matters than their elders, a Boston Consulting Group survey this year showed. Meanwhile, among others <a href="https://www.wionews.com/entertainment/thank-you-greta-for-much-needed-punch-in-the-face-priyanka-chopra-252052">Priyanka Chopra praised Greta</a> for her courage.&nbsp;

Kering said earlier this week that it would become fully carbon neutral by offsetting all greenhouse gases from 2018 within the group and across its supply chain.

Environmental activist Greta Thunberg's discourse on climate change was overly pessimistic and demoralising for young people, LVMH boss Bernard Arnault said on Wednesday, as the group behind brands like Louis Vuitton raised its "green" goals.

Environmental activist Greta Thunberg's discourse on climate change was overly pessimistic and demoralising for young people, LVMH boss Bernard Arnault said on Wednesday, as the group behind brands like Louis Vuitton raised its "green" goals. LVMH, the world's biggest luxury goods conglomerate, which like its peers is seeking to improve its environmental credentials and keep young consumers onside, said it was further cutting emissions and improving sourcing on materials like animal fur. But the group's billionaire owner and CEO Bernard Arnault said he rejected what he called Thunberg's doom-mongering. The 16-year-old Swedish campaigner berated world leaders and business executives at a United Nations climate summit in New York this week for failing to act more decisively on climate change, saying they had "stolen her dreams." Her vision "has a demoralising side to it for young people. She's not proposing anyway, aside from criticism," Arnault, 70, told journalists. "I prefer positive solutions that allow us to get towards a more optimistic position." Fashion and textile groups are under pressure from consumers and environmentalists to try and reduce industrial waste, including unsold clothing, and improve their manufacturing methods. Luxury companies turn out pricey products that are not mass-produced, but they also face questions on everything from animal welfare to carbon emissions involved in exporting their wares around the world. Many LVMH fashion brands, which include Fendi, Christian Dior and Givenchy, make accessories such as handbags from exotic skins like python or crocodile. The group said it was bringing in a charter to ensure full traceability for all of its raw materials by 2025, which would allow it to track them back to precise farms in the case of farmed fur. Some rivals have dropped fur altogether, including France's Chanel, Britain's Burberry and Kering's Gucci. LVMH said it was on course to exceed its goal to cover 30% of its energy needs from renewable sources by 2020 and also on track to cut its CO2 emissions by 25% by the same time. The group was glaringly absent from an industry "fashion pact" launched under the auspices of Kering in August with broad targets to reduce emissions. Signatories included France's Hermes as well as lower end and sportswear groups like Zara-owner Inditex and Adidas. Stella McCartney, a pioneer in vegan-friendly fashion and whose namesake brand is now part-owned by LVMH, also backed the agreement. Arnault said the deal did not make sense for LVMH - beyond clothing brands it also owns champagne labels like Moet & Chandon - and that its business model was a world away from that of fast fashion firms. "We prefer action to pacts," Arnault said. Younger luxury consumers - including the "millenials" in their late 20s and mid-30s who are driving industry sales - are more readily influenced in their purchases by sustainability matters than their elders, a Boston Consulting Group survey this year showed. Meanwhile, among others Priyanka Chopra praised Greta for her courage. Kering said earlier this week that it would become fully carbon neutral by offsetting all greenhouse gases from 2018 within the group and across its supply chain.

Luxury group LVMH top boss feels Greta Thunberg's speech was 'pessimistic, demoralising'

On Monday, the French multinational luxury brand LVMH&nbsp;announced a tie-up with British designer Stella McCartney whose brand is&nbsp;known for its&nbsp;animal-friendly ethics. The announcement comes after Stella ended a long term partnership with LVMH's arch-rival Kering.&nbsp;

LVMH owns various fashion labels, including Givenchy, Louis Vuitton and Christian Dior. Although they gave no financial details, it was said that Stella McCartney would have majority ownership of her label and will stay on as the creative chief.&nbsp;

Like most fashion brands these days, LVMH&nbsp;has been trying to increase its environmental credentials since young shoppers are showing a penchant for 'greener' brands which do not deal use&nbsp;animal fur.&nbsp;

Stella has been a long-time advocate of green fashion, relying on imitation leather for her handbags and participating in numerous initiatives to promote the second-hand luxury market.&nbsp; 
 
"A decisive factor was that she was the first to put sustainability and ethical issues on the front stage, very early on," LVMH's billionaire boss Bernard Arnault said of the deal in a statement.&nbsp; 
 
Stella will be advising&nbsp;LVMH's executive committee on matters of sustainability, the group added.&nbsp; 
 
LVMH's move to pair up with Stella McCartney&nbsp;also ramps up&nbsp;their&nbsp;competition with Kering. 
 
Even though Kering is a much smaller group than LVMH, they are the owners of one of the most popular luxury fashion brand- Gucci. The group, which is run by French billionaire, Francois-Henri Pinault had been steadily helping Stella build her brand for almost 17 years before she bought back her 50% stake in March, earlier this year.&nbsp; 
 
When asked about her reasons for leaving Kering, the designer did not reveal much and just said, "Having control of the company is important when your name is above the door and I think if you have that option it's rude not to."

Stella also said in a statement that she had received interest from other investors.&nbsp; 
 
"While these approaches were interesting none could match the conversation I had with Bernard Arnault and his son Antoine," McCartney told a news agency, adding that the group wanted to "accelerate the full potential of the brand." 
 
Stella McCartney was born in London and is the daughter of 'Beatles' singer Paul McCartney.&nbsp;&nbsp;

She had launched her label in partnership with the Gucci group in 2001.&nbsp;

On Monday, the French multinational luxury brand LVMH announced a tie-up with British designer Stella McCartney whose brand is known for its animal-friendly ethics.

On Monday, the French multinational luxury brand LVMH announced a tie-up with British designer Stella McCartney whose brand is known for its animal-friendly ethics. The announcement comes after Stella ended a long term partnership with LVMH's arch-rival Kering. LVMH owns various fashion labels, including Givenchy, Louis Vuitton and Christian Dior. Although they gave no financial details, it was said that Stella McCartney would have majority ownership of her label and will stay on as the creative chief. Like most fashion brands these days, LVMH has been trying to increase its environmental credentials since young shoppers are showing a penchant for 'greener' brands which do not deal use animal fur. Stella has been a long-time advocate of green fashion, relying on imitation leather for her handbags and participating in numerous initiatives to promote the second-hand luxury market. "A decisive factor was that she was the first to put sustainability and ethical issues on the front stage, very early on," LVMH's billionaire boss Bernard Arnault said of the deal in a statement. Stella will be advising LVMH's executive committee on matters of sustainability, the group added. LVMH's move to pair up with Stella McCartney also ramps up their competition with Kering. Even though Kering is a much smaller group than LVMH, they are the owners of one of the most popular luxury fashion brand- Gucci. The group, which is run by French billionaire, Francois-Henri Pinault had been steadily helping Stella build her brand for almost 17 years before she bought back her 50% stake in March, earlier this year. When asked about her reasons for leaving Kering, the designer did not reveal much and just said, "Having control of the company is important when your name is above the door and I think if you have that option it's rude not to." Stella also said in a statement that she had received interest from other investors. "While these approaches were interesting none could match the conversation I had with Bernard Arnault and his son Antoine," McCartney told a news agency, adding that the group wanted to "accelerate the full potential of the brand." Stella McCartney was born in London and is the daughter of 'Beatles' singer Paul McCartney. She had launched her label in partnership with the Gucci group in 2001.

Luxury fashion brand LVMH teams up with Stella McCartney, igniting old fashion rivalries

Barbadian singer Rihanna unveiled her new fashion brand with Louis Vuitton owner LVMH on Wednesday (may 22), a rare move by the French group to set up a label from scratch as it taps into soaring demand for celebrity collaborations in the luxury world.

Rihanna launches new fashion brand in Paris with LVMH

Barbadian singer Rihanna has unveiled her new fashion brand with Louis Vuitton owner LVMH, a rare move by the French group to set up a label from scratch as it taps into soaring demand for celebrity collaborations in the luxury world.

Fenty - after the 'Umbrella'&nbsp;hitmaker's full name, Robyn Rihanna Fenty - will build on the singer's existing joint venture in cosmetics with LVMH, with a full range of clothing, shoes and accessories.

"My fashion will be different and non-traditional because I do not come from this industry," the singer told a news conference Wednesday evening, saying she hoped to bring a "new vision of fashion".

Presented in a store in Paris' trendy Marais district, the clothes offer structured lines, white or beige jackets with wide shoulders or blazer dresses wrapping the body.

The collection is also for men with large denim jackets and parka coats.

The French group has increasingly exploited collaborations with celebrities as well as streetwear designers to attract young customers of luxury goods.

But most ventures of the sort have been restricted to limited editions, and LVMH is looking to steal a march on peers by taking its pairing with 31-year-old Rihanna to another level.

It will be able to rely on Rihanna's social media credentials - the singer has amassed 70.5 million followers under her Instagram handle 'badgalriri'.

Known for her bold fashion statements at red carpet events, Rihanna is followed almost as much for her style as her music and had already worked with other labels including sportswear brand Puma on collections under the Fenty name.

In contrast to other LVMH brands, Fenty products will be sold at significantly lower prices. Prices range from 600 euros ($669.18) to 800 euros for a dress, 500 euros for sandals and 300 euros for costume jewellery.

The brand will be essentially an e-commerce-only venture, supported with temporary 'pop-up'&nbsp;events rather than a store network.

The first 'pop-up'&nbsp;store, Paris, will open on Friday for two weeks and the website on May 29. The brand will first be available in 14 countries, in Europe and the United States, and will open in Asia by year-end.

Barbadian singer Rihanna has unveiled her new fashion brand with Louis Vuitton owner LVMH, a rare move by the French group to set up a label from scratch as it taps into soaring demand for celebrity collaborations in the luxury world.

Barbadian singer Rihanna has unveiled her new fashion brand with Louis Vuitton owner LVMH, a rare move by the French group to set up a label from scratch as it taps into soaring demand for celebrity collaborations in the luxury world. Fenty - after the 'Umbrella' hitmaker's full name, Robyn Rihanna Fenty - will build on the singer's existing joint venture in cosmetics with LVMH, with a full range of clothing, shoes and accessories. "My fashion will be different and non-traditional because I do not come from this industry," the singer told a news conference Wednesday evening, saying she hoped to bring a "new vision of fashion". Presented in a store in Paris' trendy Marais district, the clothes offer structured lines, white or beige jackets with wide shoulders or blazer dresses wrapping the body. The collection is also for men with large denim jackets and parka coats. The French group has increasingly exploited collaborations with celebrities as well as streetwear designers to attract young customers of luxury goods. But most ventures of the sort have been restricted to limited editions, and LVMH is looking to steal a march on peers by taking its pairing with 31-year-old Rihanna to another level. It will be able to rely on Rihanna's social media credentials - the singer has amassed 70.5 million followers under her Instagram handle 'badgalriri'. Known for her bold fashion statements at red carpet events, Rihanna is followed almost as much for her style as her music and had already worked with other labels including sportswear brand Puma on collections under the Fenty name. In contrast to other LVMH brands, Fenty products will be sold at significantly lower prices. Prices range from 600 euros ($669.18) to 800 euros for a dress, 500 euros for sandals and 300 euros for costume jewellery. The brand will be essentially an e-commerce-only venture, supported with temporary 'pop-up' events rather than a store network. The first 'pop-up' store, Paris, will open on Friday for two weeks and the website on May 29. The brand will first be available in 14 countries, in Europe and the United States, and will open in Asia by year-end.

LVMH, owner of Moet &amp; Chandon champagne and Hennessy cognac, does not want to destabilise Pernod Ricard and has nothing to do with activist investor Elliott buying a stake in the French spirits group, its Chairman and CEO said on Tuesday.

LVMH billionaire boss Bernard Arnault, who described relations with Pernod Ricard CEO Alexandre Ricard as "friendly, made the comments at a news conference on the luxury group's annual results.

There has been media speculation that Pernod' rivals like LVMH or Diageo could have their eyes on some of the brands of Pernod Ricard which is facing pressure from Elliott to bolster its profit margins.

US activist fund Elliott said in December it had spent around 930 million euros ($1.1 billion) to build a stake of just over 2.5 per cent in the world's second-biggest spirits maker.

Elliott has called on Pernod Ricard to raise profit margins to bring them more in line with larger rival Diageo and improve governance.

LVMH, owner of Moet & Chandon champagne and Hennessy cognac, does not want to destabilise Pernod Ricard and has nothing to do with activist investor Elliott buying a stake in the French spirits group, its Chairman and CEO said on Tuesday.

LVMH, owner of Moet & Chandon champagne and Hennessy cognac, does not want to destabilise Pernod Ricard and has nothing to do with activist investor Elliott buying a stake in the French spirits group, its Chairman and CEO said on Tuesday. LVMH billionaire boss Bernard Arnault, who described relations with Pernod Ricard CEO Alexandre Ricard as "friendly, made the comments at a news conference on the luxury group's annual results. There has been media speculation that Pernod' rivals like LVMH or Diageo could have their eyes on some of the brands of Pernod Ricard which is facing pressure from Elliott to bolster its profit margins. US activist fund Elliott said in December it had spent around 930 million euros ($1.1 billion) to build a stake of just over 2.5 per cent in the world's second-biggest spirits maker. Elliott has called on Pernod Ricard to raise profit margins to bring them more in line with larger rival Diageo and improve governance.

LVMH boss Bernard Arnault says has no hand in activist Elliott targeting rival Pernod Ricard

Louis Vuitton parent owner LVMH is developing a luxury brand with singer Rihanna, in a rare move by the acquisitive group towards building a new fashion label from scratch, industry news site WWD reported on Wednesday.

Paris-based LVMH - also the owner of Christian Dior and Givenchy, among a host of other luxury brands also spanning champagne and cosmetics labels - declined to comment.

It already has a partnership with the 'Umbrella'&nbsp;singer in make-up. Fenty Beauty, which was developed with Rihanna via LVMH's Kendo "brand incubator", which promotes new products and labels, has grown rapidly since launching in September 2017.

LVMH said last April it expected Fenty to reach $500 million in retail sales in 2018 - which includes the revenue reaped by third parties - though it has not given an update since.

The new Rihanna venture would include clothing, leather goods and accessories, WWD said, citing sources with knowledge of the launch. It said a collection could be released later this year, though the timing was uncertain.

Run by billionaire boss Bernard Arnault, LVMH has more often opted to grow through purchases, and it splashed out $3.2 billion at the end of last year to buy hotel owner Belmond in a bid to branch into upscale hospitality.

In recent months it has also invested heavily in developing its existing brands, however, including Celine, which has brought in a new designer and launched into menswear in a bid to grow revenues.

Luxury firms are facing headwinds including a potential slowdown in key market China, and are jostling to stand out from the crowd and attract younger shoppers by switching designers or working with celebrities and social media influencers as part of a marketing push.

Louis Vuitton parent owner LVMH is developing a luxury brand with singer Rihanna, in a rare move by the acquisitive group towards building a new fashion label from scratch, industry news site WWD reported on Wednesday.

Louis Vuitton parent owner LVMH is developing a luxury brand with singer Rihanna, in a rare move by the acquisitive group towards building a new fashion label from scratch, industry news site WWD reported on Wednesday. Paris-based LVMH - also the owner of Christian Dior and Givenchy, among a host of other luxury brands also spanning champagne and cosmetics labels - declined to comment. It already has a partnership with the 'Umbrella' singer in make-up. Fenty Beauty, which was developed with Rihanna via LVMH's Kendo "brand incubator", which promotes new products and labels, has grown rapidly since launching in September 2017. LVMH said last April it expected Fenty to reach $500 million in retail sales in 2018 - which includes the revenue reaped by third parties - though it has not given an update since. The new Rihanna venture would include clothing, leather goods and accessories, WWD said, citing sources with knowledge of the launch. It said a collection could be released later this year, though the timing was uncertain. Run by billionaire boss Bernard Arnault, LVMH has more often opted to grow through purchases, and it splashed out $3.2 billion at the end of last year to buy hotel owner Belmond in a bid to branch into upscale hospitality. In recent months it has also invested heavily in developing its existing brands, however, including Celine, which has brought in a new designer and launched into menswear in a bid to grow revenues. Luxury firms are facing headwinds including a potential slowdown in key market China, and are jostling to stand out from the crowd and attract younger shoppers by switching designers or working with celebrities and social media influencers as part of a marketing push.

Luxury leader LVMH is planning a fashion brand with Rihanna: report

That little tab on the rear pocket of your Levi's jeans is now the subject of a lawsuit.

Levi Strauss & Co on Friday sued the French luxury house Kenzo, accusing the unit of LVMH of trademark infringement for putting tabs on its pants pockets, including in a new clothing line featuring singer Britney Spears.

The complaint filed with the US&nbsp;District Court in San Francisco, where Levi is based, said Kenzo's activities threaten to cause Levi to lose sales and suffer "incalculable and irreparable damage" to its goodwill and confuse shoppers.

Kenzo did not immediately respond to requests for comment after business hours. A lawyer for the Paris-based company could not immediately be located.

Levi said it has put distinctive tabs bearing its name, in the form of folded cloth ribbons, in the seams of its pants pockets since 1936, to provide "sight identification" for its products.

It said Kenzo has not complied with its cease-and-desist letters to stop selling its own clothing bearing similar tabs, including in its "Kenzo presents Britney Spears-La Collection Memento No&nbsp;2" line launched last month.

The complaint quoted Leo Christopher Lucier, Levi's national sales manager in 1936, as having said "no other maker of overalls can have any other purpose in putting a coloured tab on an outside patch pocket, unless for the express and sole purpose of copying our mark, and confusing the customer."

Levi is seeking to recoup lost profits, compensatory and punitive damages, and halt further infringements.

The case is Levi Strauss & Co v Kenzo Paris USA LLC et al, US&nbsp;District Court, Northern District of California, No&nbsp;18-02106.

That little tab on the rear pocket of your Levi's jeans is now the subject of a lawsuit

That little tab on the rear pocket of your Levi's jeans is now the subject of a lawsuit. Levi Strauss & Co on Friday sued the French luxury house Kenzo, accusing the unit of LVMH of trademark infringement for putting tabs on its pants pockets, including in a new clothing line featuring singer Britney Spears. The complaint filed with the US District Court in San Francisco, where Levi is based, said Kenzo's activities threaten to cause Levi to lose sales and suffer "incalculable and irreparable damage" to its goodwill and confuse shoppers. Kenzo did not immediately respond to requests for comment after business hours. A lawyer for the Paris-based company could not immediately be located. Levi said it has put distinctive tabs bearing its name, in the form of folded cloth ribbons, in the seams of its pants pockets since 1936, to provide "sight identification" for its products. It said Kenzo has not complied with its cease-and-desist letters to stop selling its own clothing bearing similar tabs, including in its "Kenzo presents Britney Spears-La Collection Memento No 2" line launched last month. The complaint quoted Leo Christopher Lucier, Levi's national sales manager in 1936, as having said "no other maker of overalls can have any other purpose in putting a coloured tab on an outside patch pocket, unless for the express and sole purpose of copying our mark, and confusing the customer." Levi is seeking to recoup lost profits, compensatory and punitive damages, and halt further infringements. The case is Levi Strauss & Co v Kenzo Paris USA LLC et al, US District Court, Northern District of California, No 18-02106.

Levi Strauss sues LVMH's Kenzo over jeans pocket tab

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