The Italian footwear brand owend by BasicNet has chosen to renew its licensing agreement with Steve Madden on a ten-year renewable basis. The agreement also extends to cover sourcing and is expected to generate revenue of 250 million dollars this year.
The U.S. footwear group doubled its revenue in the first quarter of 2013 ended March 23. The boost came mainly from newly acquired PLG brands, but these still managed to weigh on the company’s operating margin.
British luxury group Burberry posted a 10 percent rise in fourth quarter revenue as strong demand for its more expensive products in China helped it beat sales forecasts for the second half of the year.
Sales at fragrance and flavour maker Givaudan SA rose less than expected in the first quarter as demand fell in Europe and North America for its fine fragrances used in perfumes.Sales increased 3.9 percent on a like-for-like basis to 1.
The French luxury goods group LVMH, which owns brands such as Louis Vuitton, Givenchy and Guerlain, on Monday posted first-quarter sales of 6.95 billion euros ($9.09 billion), a rise of 6 percent from the previous three-month period.
Revised takeover offers for Australia's Billabong have come in considerably lower than indicative bids, with the highest valuing the struggling surfwear firm at only A$287 million, the Australian Financial Review reported on Friday.
The family owners of Italian suitmaker Pal Zileri are looking to sell their holding and bring in external investors to boost the brand's international expansion and revive its fortunes, sources close the matter have said.