ASML jumps, passes LVMH to become 2nd biggest market cap in Europe #lvmh #asml more on Bloomberg Terminal

Opinion: The FTC’s trustbusting is getting ridiculous. Luxury handbags? Please. $TPR $CPRI George F. Will
washingtonpost.com/opinions/2024/…

Chanel predicts no boost to its business in Paris from the Olympics set to start on July 26. CEO Leena Nair and CFO Philippe Blondiaux expressed satisfaction with creative director Virginie Viard in an interview with Bloomberg. More below. bloomberg.com/news/articles/… via Bloomberg Markets

Forget the Met Gala. First Lady Brigitte Macron wore a 🇨🇳 red 🇨🇳 Dior ensemble by Maria Grazia Chiuri this afternoon at a ceremony to welcome President Xi Jinping and his wife during their State visit. Not Louis Vuitton this time. Still, LVMH label. #geopoliticsandfashion 🇫🇷

Gucci, once synonymous with larger-than-life luxury, has fallen far from its rarefied perch. Bloomberg Originals takes a close look at why the iconic brand became a sales bin staple, and how it might pull itself back out trib.al/h7vtWc9

SCOOP: LVMH is exploring options for its Marc Jacobs fashion brand amid interest from potential buyers bloomberg.com/news/articles/… via Bloomberg Pursuits Pamela Barbaglia Crystal Tse Vinicy Chan & myself

Our Big Take today: Gucci has a desirability challenge. Angelina Rascouët and Tara Patel looked at the discount racks. bloomberg.com/news/features/… via Bloomberg Wealth

Todays’s MUS READ:
The definitive, informed and excellently detailed read on the many challenges facing Kering and the billionaire Pinault family as they try and revive the performance of Gucci Angelina Rascouët Tara Patel bloomberg.com/news/features/… via Bloomberg Wealth

I was interviewed on the BBC after LVMH’s AGM about succession at the luxury conglomerate and what Bernard Arnault’s intentions are. (20”47’ in in this Spotify link): #succession #LVMH

open.spotify.com/episode/0VzzkJ…

REALTY REALITY CHECK: Fancy apartment rentals for Paris Olympics see poor demand, price cuts by ⁦Jenny Che⁩ #olympics bloomberg.com/news/articles/…

+++@Armani dopo Armani? Lo stilista non esclude fusioni o quotazione in borsa in un'intervista esclusiva con Bloomberg +++
Armani ci racconta i suoi piani per la successione:
bloomberg.com/news/articles/… Flavia Rotondi Daniele Lepido Angelina Rascouët

Iran’s rial fell to a record low vs the $ on Sunday, it weakened to 705,000/$, according to data from Bonbast.com, depreciating by ~ 4% vs previous day.
Vs:
Israeli stocks were up on Sunday, after erasing losses earlier. The TA-35 Index rose 0.4%, 1st gain in 4 days.

Thank you US, UK, France and especially Jordan and Saudi Arabia. Turned out The Economist was wrong.

Luxury groups' hunt for prime property assets. I spoke to the BBC about Kering's €1.3b deal on Milan's via Montenapoleone. BBC Business #gucci Roger Hearing Stefania Gozzer bbc.co.uk/sounds/play/w3…

He said wealthy Chinese are fearful and selling items that are seen as ostentatious, such as private jets, 'because its dangerous to be rich in China.' He added that they are trying to get their money out of the country. 3/9

A classic medium-sized Chanel flap bag has broken through the €10,000 ($10,820) barrier for the first time in Paris trib.al/4Sm7FMk

Antonio Belloni, the second-in-command at luxury conglomerate LVMH, is stepping down amid a continuing management shakeup bloomberg.com/news/articles/… via Bloomberg

🚨Bernard Arnault était à l’Elysée hier soir pour être élevé par Emmanuel Macron au plus haut rang de la Légion d’honneur.

Elon Musk, entre autres milliardaires, était présent, tout comme Beyoncé et Jay Z, ou encore Jeff Koons. bit.ly/3IC405u