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Luxottica

February 12, 2016

Casino to sell Big C stake to Thai TCC Group; Luxottica shares dive following management concerns; and LVMH shares soar on strong sales

Casino to sell Big C stake to Thai TCC Group

French retailer Casino Group, owned by the Naouri and Guichard families, has agreed to sell its majority stake in Thai hypermarket operator Big C Supercentre for $3.4 billion.

The sale to Thailand’s TCC Group – controlled by Thai tycoon Charoen Sirivadhanabhakdi and family – will allow Casino to pay down $6.7 billion of debt. The deal will be completed by the end of March.

January 23, 2015

2014 was a lively year for family businesses, from Abigail Johnson’s succession at Fidelity, to the Market Basket ownership struggle and of course Korean Air’s infamous ‘nut rage’ incident. Here we take a look at some of the issues we think will remain top-of-mind for 2015 and the family businesses to watch.

2014 was a lively year for family businesses, from Abigail Johnson’s succession at Fidelity, to the Market Basket ownership struggle and of course Korean Air’s infamous ‘nut rage’ incident. Here we take a look at some of the issues we think will remain top-of-mind for 2015 and the family businesses to watch.

1: Shareholder revolts

October 24, 2014

Family-owned eyewear group Luxottica has announced a new co-chief executive this week in an attempt to resolve a tense management crisis that has seen two leaders quit in just over six weeks.

Family-owned eyewear group Luxottica has announced a new co-chief executive this week in an attempt to resolve a tense management crisis that has seen two leaders quit in just over six weeks.

The Italian company said Adil Mehboob-Khan, a former Procter & Gamble executive, would join the firm in January and become part of a new management structure comprised of three top executives.

September 3, 2014

A luxury fashion expert says Luxottica’s founder most likely had his business’s future at heart when ousting the sunglass empire’s non-family chief executive last week, despite media speculation that the exit was personal.   

A luxury fashion expert says Luxottica’s founder most likely had his business’s future at heart when ousting the sunglass empire’s non-family chief executive last week, despite media speculation that the exit was personal.

The Italian eyewear firm, which has annual revenues of €7.3 billion and includes brands such as Oakley and Ray-Ban, was brought to prominence during Andrew Guerra’s decade-long tenure. 

November 1, 2013

Revenues down at Wacker Chemie as they drop prices to remain compeititive and Volkswagen blames the integration of Porsche’s revenue streams last year for its significantly lower sales results for the first nine months of 2013. Jeronimo Martins, Luxottica and AB InBev all see positive results.

Revenues down at Wacker Chemie as they drop prices to remain compeititive and Volkswagen blames the integration of Porsche’s revenue streams last year for its significantly lower sales results for the first nine months of 2013. Jeronimo Martins, Luxottica and AB InBev all see positive results.

Wacker Chemie
Munich-based Wacker Chemie, manufacturer of polysilicon – a vital material for solar panels – reported a 3% drop in revenues to €1.17 billion for the third quarter of the year compared to the same period last year.

July 29, 2013

LVMH and Kering’s luxury brands perform strongly, sunglass retailer Luxottica breaks €2 billion revenue for the second quarter, and Ford sees strong sales in North America and Asia-Pacific/Africa.

LVMH and Kering’s luxury brands perform strongly, sunglasses empire Luxottica breaks €2 billion revenue for the second quarter, and Ford sees strong sales in North America and Asia-Pacific/Africa.

LVMH

Bernard Arnault’s LVMH has announced half year revenues of €13.7 billion, with organic revenue growth up 8% compared to the same period last year.

The group said it continues to experience strong momentum in Asia and the US, and continued to grow in Europe despite economic uncertainty.

February 5, 2013

Family businesses in Europe and the US have been reflecting on 2012 – with encouraging results reported by Luxottica, Ferragamo, LVMH and Paccar. Meanwhile, Estee Lauder posted strong sales for its second quarter.

Family businesses in Europe and the US have been reflecting on 2012 – with encouraging results reported by Luxottica, Ferragamo, LVMH and Paccar. Meanwhile, Estee Lauder posted strong sales for its second quarter.

May 24, 2012

At a time when the eurozone crisis shows no sign of abating, family businesses such as America Movil, Prada and LVMH are giving mixed signals about their expansion plans.

At a time when the eurozone crisis shows no sign of abating, family businesses such as America Movil, Prada and LVMH are giving mixed signals about their expansion plans.

According to Carlos Slim Domit, co-chairman of Mexican telecommunications group America Movil, now is a "good moment" to invest in Europe because of the continent's ongoing debt crisis.

May 9, 2012

Three family businesses in Europe and Brazil have reported strong quarterly results this week, while Italian media conglomerate Mediaset and Japanese carmaker Toyota have seen their profits plummet.

Three family businesses in Europe and Brazil have reported strong quarterly results this week, while Italian media conglomerate Mediaset and Japanese carmaker Toyota have seen their profits plummet.

In Germany, Henkel, the consumer goods company controlled by the eponymous family, said on 9 May that net profit increased by 30.3% to €378 million during the first quarter of the year, from €290 million during the same period last year.

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