PARIS — The luxury sector remains in fine fettle, as PPR and Hermès International last week reported solid first-half profits and voiced confidence for the balance of 2008 despite currency headwinds and economic turbulence.
PPR said net income in the first half catapulted 140.9 percent, largely due to a 421 million euro, or $644.1 million, capital gain on the sale of YSL Beauté, but also reflected a “very satisfactory level of profitability” in luxury goods.
Hermès is launching a Laundromat pop-up shop in NYC - dubbed Hermèsmatic - where customers can bring their old scarves to be dip-dyed by an expert. Get all the details on WWD.com. #wwdnews (📷: @donstahl)