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October 26, 2010

Luxottica, the world's biggest eyewear group which is 70% owned by the Del Vecchio family, recorded a 34.5% year-on-year rise in net profits to €101.9 million in the third quarter.

Luxottica, the world's biggest eyewear group which is 70% owned by the Del Vecchio family, recorded a 34.5% year-on-year rise in net profits to €101.9 million in the third quarter.
 
The rise is on top of the 30% rise in net profits in the second quarter of 2010.
 
In a statement the Milan-based company said it is targeting net profit of €400 million in 2010, 27% higher than in 2009.
 
Net sales rose 19.7% in the third quarter to €1.46 billion.
 

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 30, 2010

VW, the family-controlled automaker, continues to outpace Porsche, its smaller rival owned by a different branch of the same family, ahead of their proposed merger next year.

VW, the family-controlled automaker, continues to outpace Porsche, its smaller rival owned by a different branch of the same family, ahead of their proposed merger next year.

VW announced its results for H1 2010, the highlight being profits after tax of €1.8 billion. The Germany-based company, Europe's largest automobile manufacturer, also increased its global market share to 12%.

June 2, 2010

Jean Cassegrain, the third-generation CEO of luxury retailer Longchamp, said he sees little for the company to be concerned about after positive sales in Europe and the successful launch of a new line during the first half of 2010.

Jean Cassegrain, the third-generation CEO of luxury retailer Longchamp, said he sees little for the company to be concerned about after positive sales in Europe and the successful launch of a new line during the first half of 2010.

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