Edition:
United Kingdom

Claudia Cristoferi

Blackstone pursuing RCS owner for up to $600 million over HQ sale - source

02 May 2019

MILAN Blackstone Group is seeking up to $600 million (460.55 million pounds) in damages from the chairman and controlling shareholder of Italian publisher RCS Mediagroup over a disputed property sale, a source close to the fund said on Thursday.

Tod's e-commerce surge shows turnaround is working, CEO says

18 Apr 2019

SANT'ELPIDIO A MARE, Italy Turnaround efforts at Italian luxury group Tod's are starting to bear fruit with e-commerce sales growing at a "high-double digit" pace, owner and Chief Executive Diego Della Valle told shareholders on Thursday.

Three suitors circle Italy's Cavalli as it seeks creditor protection

04 Apr 2019

MILAN Three investors including Italian fashion entrepreneur Renzo Rosso are eyeing a possible bid for luxury label Roberto Cavalli, according to a document filed by the company with a court in Milan as it seeks breathing space from creditors.

Struggling fashion group Roberto Cavalli to seek deal with creditors

29 Mar 2019

FLORENCE/MILAN Italian fashion house Roberto Cavalli, which has posted a string of losses in recent years, will seek a deal with its creditors to keep the business running while it finds a new investor, the company said on Friday.

EssilorLuxottica deadlock set to drag on after arbitration request

28 Mar 2019

PARIS/MILAN A row over who is in charge at Ray-Ban maker EssilorLuxottica could drag on for two years or more after the recently merged group's executive chairman filed an arbitration request after alleged violations of a power-sharing agreement.

Prada stops end-of-season markdowns to protect brand, margins

15 Mar 2019

MILAN Italian luxury group Prada said on Friday it would stop offering end-of-season promotions at its stores, in a bid to boost margins and protect its brand after achieving revenue growth in 2018 for the first time in four years.

Italy's handbag maker Furla spurns suitors to stay solo

15 Mar 2019

MILAN Italian handbag maker Furla plans to stay solo and carry on as a family-run business despite Italian and foreign bidders knocking on its door, its chairwoman and top shareholder told Reuters on Friday.

Del Vecchio wants to split powers with aide as EssilorLuxottica seeks CEO

13 Mar 2019

MILAN/PARIS The top shareholder in EssilorLuxottica sought to ease concerns over governance at the merged Franco-Italian group on Wednesday by saying he would not insist on his right-hand man becoming chief executive of the combined company.

World News

Iran shoots down U.S. military drone in Gulf region

Iran on Thursday shot down a U.S. military drone that it said was flying over one of its southern provinces on the Gulf, increasing fears of military conflict as Washington seeks to isolate Tehran over its nuclear and regional activities.