Michael Kors parent expects sales growth as luxury demand rebounds
Capri Holdings Ltd (CPRI.N) on Wednesday forecast annual revenue and profit above Wall Street expectations, betting on shoppers returning to stores in the United States following speedy vaccinations and pent-up demand for luxury goods in Europe.
Biden to pitch his $174 bln electric vehicle plan in Michigan
President Joe Biden will make the case for his $174 billion electric vehicle plan on Tuesday, calling for government grants for new battery production facilities during a visit to a Ford Motor (F.N) electric vehicle plant in Michigan. He will also rule out consumer incentives for high-priced electric luxury models, according to a White House fact sheet […]
One positive COVID-19 test on Japan luxury cruise ship; passengers disembarking
Japan’s Nippon Yusen said on Friday that one passenger on its luxury cruise ship “Asuka II” had tested positive for the coronavirus, and that other passengers would be disembarking. The passenger’s health is stable and the person is recuperating in a cabin that has been isolated, it said in a statement. People who stayed in […]
Swiss watchmakers go digital to show off new products, revive sales
ZURICH (Reuters) – Luxury Swiss watchmakers, usually not big fans of online retailing, are launching a new all-digital Watches & Wonders event on Wednesday to show off their latest products, hoping to revive sales hit by the coronavirus crisis. Makers of high-end watches still largely rely on physical stores for sales, but the success of […]
