Allegra Perry, managing director at Cantor Fitzgerald, says currency movements have had a negative effect on luxury brands' earnings.» Read More
Permira is to buy a 29.6% stake in Valentino, one of the world's top fashion houses, for 782.6 million euros ($1.06 billion), joining a small number of private equity firms in the luxury brand business.
Tuesday after the bell, I reported Disney earnings. I started my report by saying the company "hit it out of the park" on earnings, beating the street by six cents. I then said revenues missed a bit, while still growing.
Suddenly, the U.S. is the lap of luxury and Bulgari, Tiffany and Cartier are all looking to expand here.