Angelina Rascouet

Coty Inc. will receive $400 million to give up a license to sell Kering SA’s Gucci beauty products a year earlier than planned, ending a partnership with the French luxury group that began a decade ago.

Chanel tapped Pernod Ricard SA’s top financial executive as its next chief financial officer.

Sales at LVMH’s key fashion and leather goods unit, home to Louis Vuitton and Dior, barely eked out growth last quarter as the conflict in the Middle East deterred wealthy shoppers.

LVMH fashion unit's return to growth held back by Iran war The luxury industry has been mired in a slump. By Angelina Rascouet, Bloomberg

Gucci sales fell less than expected in the second quarter, suggesting efforts to revive Kering’s largest brand are starting to bear fruit.

Hermès sales rose in line with expectations as the Birkin bag maker weathered a downturn in the demand for luxury goods better than its peers.

Revenue rose 6.7% at constant exchange rates in the second quarter to about €4.1bn, Hermès International SCA said.

Gucci’s sales topped estimates in the second quarter, sparking optimism that a long-awaited turnaround at Kering’s largest brand is starting to take shape and sending shares higher.

L’Oreal sales climbed in the second quarter, boosted by growth in all regions and surging demand among hairdressers for its professional styling products.

Chanel’s sales rose by double digits in the first half, beating luxury rivals including LVMH, as wealthy shoppers splurged on the new fashion creations of designer Matthieu Blazy.