PARIS — Amid doom and gloom aplenty, the luxury goods sector got a blast of good news from investment firm HSBC, whose analysts contend that robust demand from Asia, the Middle East and Russia should boost top-line growth by 6 percent and keep earnings per share in the high single digits for all players in 2008.
"We are not surrendering to the gloomy scenario currently factored into most luxury stock evaluations," Antoine Belge and Erwan Rambourg wrote in a research report issued Friday. "In light of recent economic and financial market developments, we believe we need to revise down our forecasts. Nevertheless, the trends we are forecasting are still far from a nightmare for the luxury goods industry."
“I see things on the hanger and I’m, like, ‘I never knew that color worked on me.’ It’s things you necessarily wouldn’t choose to wear, but once you put them on, you see why Janie is who Janie is." — Lily Collins on working with former "Mad Men" costume designer, Janie Bryant on creating looks for her role as Celia Brady's in Amazon series, "The Last Tycoon." 📸@jilliansollazzo #wwdeye
EXCLUSIVE: Sarah Rutson has been tapped to Build New American Fashion Group. The parent of Joie, Equipment and Current/Elliott hired the merchant to rev up its brands and expand its portfolio into designer, beauty and lifestyle categories. Read more on WWD.com, link in bio. #wwdfashion
Michael Kors' $1.3B Jimmy Choo deal has the company squaring off with Coach Inc. as both seek to build American powerhouses. Coach bought Stuart Weitzman in 2015 and Kate Spade just two weeks ago, but Michael Kors' acquisition may be putting pressure on its rival in the new push for scale. #wwdnews (📷: George Chinsee)
Meet actress Lucy Boynton, who plays opposite Naomi Watts in the recently released Netflix series "Gypsy." Boynton stopped by WWD to talk about her upcoming projects and her nomadic lifestyle. Get all the details on WWD.com. #wwdeye (📷: @dandoperalski)