|Bid||0.00 x 0|
|Ask||0.00 x 0|
|Day's Range||84.00 - 84.94|
|52 Week Range||54.36 - 84.94|
|Beta (3Y Monthly)||0.79|
|PE Ratio (TTM)||30.29|
|Forward Dividend & Yield||1.78 (2.12%)|
|1y Target Est||N/A|
Yahoo Finance's Adam Shapiro fills you in on the latest news stories that you need to know.
(Bloomberg) -- MINISO Co., a Chinese budget household and consumer good retailer, is planning an initial public offering that could raise about $1 billion, according to people with knowledge of the matter.The company is inviting banks to pitch for roles on the proposed offering, the people said, asking not to be identified because the information is private. The share sale could take place in Hong Kong or the U.S., while the timeline is yet to be decided, the people said.MINISO, founded by Japanese designer Miyake Junya and Chinese entrepreneur Ye Guofu in 2013, designs its products in Japan and has more than 3,500 stores across 80 countries including China, the U.S., Brazil, the United Arab Emirates and Russia, according to its website. The firm posted a revenue of 17 billion yuan ($2.5 billion) in 2018.Tencent Holdings Ltd. and Hillhouse Capital invested 1 billion yuan in the retailer last year in its first external financing round, according to a statement at the time.Deliberations are at an early stage, and details of the offering including the fundraising size could change, the people said. The company doesn’t have any additional information to disclose after announcing in January last year that it plans an IPO, a representative said in an emailed response to Bloomberg.MINISO has been compared with Muji, the minimalist retailer owned by Ryohin Keikaku Co. which offers no-brand, no-logo lifestyle and household goods. In 2016, MINISO and a connected firm were ordered to compensate LVMH for its economic losses in a design infringement lawsuit in Shenzhen, according to a court document. On the other hand, the Chinese company is involved in several copyright disputes in which it accused other domestic retailers of copying its brand and fraud during marketing campaigns.(Updates to add an infringement case in last paragraph.)To contact the reporters on this story: Crystal Tse in Hong Kong at email@example.com;Vinicy Chan in Hong Kong at firstname.lastname@example.orgTo contact the editors responsible for this story: Fion Li at email@example.com, Sam NagarajanFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
They say in Paris that all roads lead to Arnault. That’s Bernard Arnault, whose ruthless approach to acquisitions has earned him the nickname “the wolf in cashmere” and helped him recently to overtake ...
Lululemon Athletica got a boost after it announced the rollout of its Selfcare toiletries line and a partnership deal with Sephora.
Luxury fashion group Chanel, whose star designer Karl Lagerfeld passed away earlier this year, reported higher annual sales and profits on Monday and once again reaffirmed its independence, stating it was not for sale. Chanel said its 2018 revenues rose 12.5% to $11.12 billion, while net profits climbed 16.4% to $2.17 billion. The French fashion house, known for its tweed suits and quilted handbags, enjoyed growth across all of its markets, with Asia-Pacific leading the way with a 19.9% rise in annual sales, compared to a 7.8% rise in Europe and 7.4% in the Americas region.
Kering, owner of brands including Gucci, will tighten its grip on its e-commerce operations, focusing on its own branded sites to sell its luxury products or ventures where it can control its image and client data. Kering had already said it would wrest back control of web operations for brands such as Balenciaga and Alexander McQueen which had been developed by Yoox Net-A-Porter (YNAP) - an online retailer now fully owned by the group's rival Richemont.
LVMH Moët Hennessy - Louis Vuitton, Société Européenne (EPA:MC), a large-cap worth €176b, comes to mind for investors...
Europe's spirits makers announced plans on Tuesday to list the number of calories and ingredients in spirit drinks, as businesses and regulators step up efforts to cater for healthier lifestyles. The European Commission has, however, called on the sector to come up with a plan to regulate itself amid general interest for healthier eating and drinking habits. The European consumers organisation BEUC has said that, with Europe facing an obesity crisis, calorie content labelling for alcohol was a necessity.
LVMH's Sephora beauty chain said it will close all its U.S. stores, distribution centers and corporate offices for an hour on Wednesday to conduct diversity training for employees, a move that follows a racial incident involving a Grammy-nominated singer. R&B singer SZA, who is black, said in April she was racially profiled at a Sephora store in Calabasas, California. "We have been informed of an incident at our Calabasas store and in addition to reaching out to SZA directly, we are gathering more information about the incident in order to take the proper next steps," Sephora said in a statement emailed to Reuters.
For beginners, it can seem like a good idea (and an exciting prospect) to buy a company that tells a good story to...
Barbadian singer Rihanna has unveiled her new fashion brand with Louis Vuitton owner LVMH, a rare move by the French group to set up a label from scratch as it taps into soaring demand for celebrity collaborations in the luxury world. Fenty - after the "Umbrella" hitmaker's full name, Robyn Rihanna Fenty - will build on the singer's existing joint venture in cosmetics with LVMH, with a full range of clothing, shoes and accessories. "My fashion will be different and non-traditional, because I do not come from this industry," the singer told a news conference Wednesday evening, saying she hoped to bring a "new vision of fashion".
The Beijing delivery man who arrived with Christine Lin’s new silver bracelet came dressed in an elegant black suit -- complete with white gloves. Inside, under layers of glossy wrapping paper, was the $90 limited-edition bracelet (from a brand co-founded by Hermes International and a local designer) along with a thank-you card from JD.com, the e-commerce site that had arranged the special delivery. Shoppers from China accounted for one-third of global spending on luxury items last year, and Chinese luxury consumption will nearly double to about 1.2 trillion yuan ($175 billion) by 2025 from 770 billion yuan last year, consultancy McKinsey & Co. estimated in a report published April 26.
Affluent consumers will keep buying Louis Vuitton bags and drinking Hennessy -- regardless of how the U.S.-China trade war plays out.
LVMH has announced that it will be partnering with Robyn Rihanna Fenty to create a new luxury fashion house called "Fenty."
NEW YORK (AP) — Rihanna certified her status as a cultural fashion icon with her groundbreaking new deal with LVMH Moët Hennessy Louis Vuitton, the world's largest luxury group.
Louis Vuitton owner LVMH is launching a new fashion brand with Barbadian singer Rihanna, in a rare move by the French group to set up a label from scratch as it taps into soaring demand for celebrity collaborations in the luxury world. Fenty - after the "Umbrella" hitmaker's full name, Robyn Rihanna Fenty - will build on the singer's existing joint venture in cosmetics with LVMH, with a full range of clothing, shoes and accessories. LVMH said on Friday that the launch, rumored for several months, was "fast approaching", with the first looks set to be presented in Paris before the summer.