Accor Group achieved financial records in 2023

Accor Group achieved financial records in 2023

The 雅高 Group demonstrated exceptional growth in 2023, with a turnover of €5,056 million, up by 20%. Riding on this momentum, it launched a bond issue of €600 million and continued to expand its premium hotel network.

Dior launches a massive flagship in Geneva

The aesthetics of the new monumental boutique on Rue du Rh?ne in Geneva are unprecedented. Designed by Christian de Portzamparc - the first French architect to win the prestigious Pritzker Prize - it evokes petals reaching for the sky. The Dior building offers a men's, women's, and jewelry universe over six floors. 迪奥

ORIGINALLUXURY releases its second “Technology for Transparency” Report

On March 5, 2024, in Lausanne, ORIGINALLUXURY - a collaborative project between renowned academic institutions Enterprise for Society Center (E4S) , HEC Lausanne - The Faculty of Business and Economics of the University of Lausanne , 瑞士洛桑国际管理发展学院 (IMD) - 商学院 , and partners, including The Swiss Center for Luxury Research (SCLR) and OriginAll S.A. - announced the publication of its second report dedicated to technology for transparency.

OMEGA’s CEO, Raynald Aeschlimann, donated over half a million Swiss francs to the NGO Orbis

The auction of eleven OMEGA MoonsSwatch Moonshine Gold suitcases raised a total of 534'670 Swiss francs. Raynald Aeschlimann, President and CEO of OMEGA SA , presented all the proceeds from the auction in Hong Kong on Tuesday, February 27, to Derek Hodkey, President and CEO of Orbis International , an NGO that fights blindness around the world.

L’Oréal facing the impact of restrictions on Daigous in China

In 2023, 欧莱雅 recorded a record year with an operating margin nearing 20%. However, a decline of -7% in its stocks despite the announcement of positive results came as a blow. The cause: the Chinese government crackdown on "daigous." This phenomenon has long represented a significant portion of the brands' revenue.

LVMH diversifies into cinema and audiovisual media

酩悦·轩尼诗-路易·威登集团 is launching 22 Montaigne, its entertainment division, which aims to showcase the craftsmanship and history of the group's houses through film and audiovisual media. LVMH aims to strengthen its soft power on the international entertainment scene.

Estée Lauder family reveals details of financial structure

After announcing worldwide job cuts of up to 3,000 at the beginning of February, Estée Lauder is looking to finance the necessary restructuring. The group has just revealed several details about the structures the founding family uses to control the group.

Prada joins King Charles III’s initiative

Launched by King Charles III of England, Sustainable Markets Initiative gathers global leaders and luxury brands to promote a sustainable economy. Prada Group joins the Fashion Task Force, bringing its expertise in responsibility and traceability.

Chinese electric car giant BYD to conquer the European ultra-luxury market

Chinese company 比亚迪 aims to conquer the European ultra-luxury automobile market with the launch of its electric SUV U8 at the Geneva International Motor Show. With sales on the rise and a factory planned in Hungary, the giant is betting on strong growth in Europe.

Record sales for L’Oréal in 2023

欧莱雅 reinforces its position as a leader in the cosmetics industry with a revenue of €41.18 billion in 2023, up by 7.6%. The group is preparing to launch a new range of perfumes in collaboration with Miu Miu for 2025.

Contrasting performances for Tapestry and Capri Holdings before merger

The two American luxury groups, Tapestry and Capri Holdings Limited , are showing contrasting financial performances ahead of their announced merger by the end of the year. Tapestry is experiencing revenue growth, unlike Capri Holdings, which is seeing its numbers decline. This strategic merger is valued at $8.5 billion.