Italian eyewear maker Safilo's main shareholder is continuing talks with, mainly, four private equity funds and a deal is hoped for before end-June, chief executive Roberto Vedovotto said on Monday 27 April.
Luxury goods sales worldwide could fall 10 percent this year to $201 billion, with the U.S. market in the greatest retreat, according to a forecast reported on Friday 10 April by the Wall Street Journal.
Italy's Safilo is laying off workers and cutting production facilities, worrying the government as unemployment soars, and extra cash is looking like an urgent priority for the maker of Gucci sunglasses.
Italian eyewear maker Safilo SpA's main shareholder said it was in talks with potential investors and could dilute its stake in the company, boosting Safilo shares on hopes of a cash injection.Only 3T, which has 39.
On a recent evening at Mumbai's luxury Taj Mahal Hotel, shoppers tried on sequined sandals and handmade moccasins at Joy Shoes, an Indian family business that has sold out of its only shop for nearly 70 years.
In couture, cut is vital, but Marie Dupuis has found it can also apply to price. Thanks to a little bargaining, a Jean-Paul Gaultier dress she had her eye on for New Year's eve was hers at a 40 percent discount.
Moscow's top annual luxury fair was extravagant as always on opening night: champagne flowed freely, sexy models showed off the new Hummer and hardly anyone seemed worried about the global financial crisis.
Even the wealthiest consumers are cutting spending in the face of the global economic turmoil, which will likely push the worldwide luxury retail market into recession in 2009, a survey showed Wednesday, October 29th.