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Wealth

August 9, 2010

Campari, the famous Italian drink, may be celebrating its 150th birthday this year, but it is an American bourbon less than half its age that is driving sales at family-controlled Davide Campari-Milano.

Campari, the famous Italian drink, may be celebrating its 150th birthday this year, but it is an American bourbon less than half its age that is driving sales at family-controlled Davide Campari-Milano.

The Italy-based business purchased the Wild Turkey brand, established in 1940, from fellow family-controlled manufacturer Pernod Ricard last year for €433 million.

According to results for H1 2010, group sales were up 16.7% to €515.7 million. Net profit rose 13.6% to €69.3 million.

August 5, 2010

Swatch Group, the iconic family-controlled watchmaker, announced record half-year results yesterday both in terms of sales and profits.

Swatch Group, the iconic family-controlled watchmaker, announced record half-year results yesterday both in terms of sales and profits.

This news will be welcomed by new family chairman Nayla Hayek (pictured), who was elected to the position in June following the unexpected death of her father, Swatch founder Nicolas Hayek. (Continue reading here)

July 28, 2010

LVHM, the French luxury group controlled by the Arnault family, yesterday announced strong half-year results that firmly signals a rebound in the luxury market for family-controlled firms.

LVMH, the French luxury group controlled by the Arnault family, yesterday announced strong half-year results that firmly signals a rebound in the luxury market for family-controlled firms. 

July 27, 2010

Leonardo Del Vecchio might be expected to take that extra special summer holiday after his company announced better-than-expected second quarter results.

Leonardo Del Vecchio might be expected to take that extra special summer holiday after his company announced better-than-expected second quarter results.

Luxottica, the world's biggest eyewear group and 70% owned by Del Vecchio (pictured), recorded a 30% year-on-year rise in net profits in the second quarter of the year to €150 million. Analysts were expecting profits of  €145 million.
 

July 20, 2010

An aura of austerity might be gripping the economies of Europe and America but luxury spending seems to be little aware of it. That’s good news for many family businesses that still comprise a big part of the luxury product and service sector.

An aura of austerity might be gripping the economies of Europe and America but luxury spending seems to be little aware of it. That's good news for many family businesses that still comprise a big part of the luxury product and service sector. 

July 7, 2010

Hublot CEO Jean-Claude Biver has bought and sold some of the world’s most famous watch brands, but says he has no plans to put his time and effort into succession planning, writes Margie Goldsmith.

Hublot CEO Jean-Claude Biver has bought and sold some of the world's most famous watch brands, but says he has no plans to put his time and effort into succession planning, writes Margie Goldsmith.

The death last week of family-controlled Swatch Group founder Nicolas G Hayek saddened Biver, who knew him from his time as a board member of Swatch from 1992 to 2003.

June 29, 2010

Nicolas G Hayek, co-founder, chairman and delegate of the board of directors of the Swatch Group, has died aged 82.

Nicolas G Hayek, co-founder, chairman and delegate of the board of directors of the Swatch Group, has died aged 82. A statement said he had passed away "unexpectedly … due to heart failure during work at his beloved Swatch Group."

The Lebanese-born entrepreneur and former engineering consultant made his name after receiving an assignment to develop a strategy for the future of two Swiss watch companies in the early 1980s.

June 28, 2010

Elisabetta Gucci has reportedly received a lawsuit from the luxury group founded by her great grandfather Guccio Gucci over her plans to open a global chain of hotels under her name.

Elisabetta Gucci has reportedly received a lawsuit from the luxury group founded by her great grandfather Guccio Gucci over her plans to launch a hotel chain in her name.

The Bloomberg news service is reporting that Gucci Group, owned by the Pinault family-controlled PPR Group since 2004, has filed a lawsuit in Italy against Elisabetta and her partners in order to protect its rights.

June 23, 2010

Luxury is back, but with a difference, writes Margie Goldsmith. Ultra-high-net-worth travellers are spending again, although this year, says Matthew Upchurch, CEO of global luxury travel network Virtuoso, “their travel decisions are more value driven rather than price driven.”

Luxury is back, but with a difference. Ultra-high-net-worth travellers are spending again, although this year, says Matthew Upchurch, CEO of global luxury travel network Virtuoso, "their travel decisions are more value driven rather than price driven." It would appear that the ego has gone out of the market and travellers are no longer taking extravagant, showy vacations, writes Margie Goldsmith.

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