LVMH Chairman and CEO, Bernard Arnault | Source: Hypebeast
The empire of desire (Economist)
“Mr. Arnault is the chairman, chief executive and controlling shareholder of Moët Hennessy Louis Vuitton (LVMH), the world’s largest luxury group. Over the past quarter-century he has transformed a small, nearly defunct clothing manufacturer into a conglomerate that controls more than 60 luxury brands.”
Talbots Accepts Lower Sycamore Bid in $369 Million Takeover (Bloomberg)
“Talbots Inc. (TLB), the women’s clothing retailer trying to reverse falling sales, agreed to be bought by private-equity firm Sycamore Partners for a reduced price of $369 million, including debt.”
Many Retailers’ Sales Rose in May Despite Concerns About Economy (NY Times)
“The nation’s top retailers posted better-than-expected sales in May as wary consumers overcame their growing anxiety about the economy.”
China Slowdown Ripples Through Hong Kong as Sales Weaken (Bloomberg)
“China’s slowdown is rippling through Hong Kong, with the city’s retail sales rising at the slowest pace since 2009 as mainland visitors cut spending.”
Like Mona Lisa, Ever So Veiled (NY Times)
“To appreciate the designs of Rei Kawakubo, the woman behind the label Comme des Garçons, it helps to be a specialist in fashion, or something of a kook.”