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European luxury stocks rally, fueled by LVMH and Kering upgrades

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5 months ago

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By

Bloomberg

Published



September 3, 2025

European luxury stocks got a boost on Tuesday after HSBC Holdings Plc upgraded sector heavyweights LVMH and Kering SA on the expectation of a Chinese consumer comeback.

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Gucci – Cruise Collection2026 – Womenswear – Florence – ©Launchmetrics/spotlight

Analysts led by Erwan Rambourg raised both stocks to buy from hold, saying both companies could see sales revive for the remainder of this year and “revert to decent, profitable growth” in 2026. 

“Although American consumers face short-term hurdles in the fourth quarter, we think Chinese consumers are bound to become more engaged, and both should contribute to better growth next year,” the analysts wrote.

LVMH rose as much as 4% in Paris trading, while Gucci-owner Kering climbed as much as 4.6%. A Goldman Sachs Group Inc. basket of luxury-goods stocks gained as much as 2.4%, but is still more than 20% below February’s record high, weighed down mainly by slowing Chinese demand.

For LVMH, the HSBC analysts see opportunities for the Louis Vuitton owner to simplify its cost structure and achieve higher long-term margins. They envisage risks around Kering shares reducing under the leadership of new Chief Executive Officer Luca de Meo.

Optimism over an improving outlook in China also lifted shares of competitors such as Swatch Group AG, Brunello Cucinelli SpA and Richemont on Tuesday. Yet peer Hermes International SCA missed out, falling as much as 1.2% after HSBC downgraded the stock to hold from buy. 

The analysts don’t see sales growth at the maker of Birkin bags accelerating for the remainder of the year, although they view Hermes “as a much better business than the rest of our coverage.”



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Represent x Puma in collab return with on- and off-court basketball line

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20 minutes ago

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January 20, 2026

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Published



January 20, 2026

Puma is continuing its fruitful fashion-meets-sport collab with UK streetwear brand Represent, this time “rewriting the playbook of basketball-inspired staples”.

Puma x Represent

Fusing “Heritage Hoops Energy with Modern Streetwear”, it brings the two brands neatly together with a campaign fronted by German NBA star Dennis Schröder who “embodies the collection’s balanced fusion of court performance and off-court style”.

The “simple yet elevated collection” spans footwear and apparel that’s “highlighted by expressive and detailed cut-and-sew designs”, as well as a fresh interpretation of Puma’s All-Pro Nitro 2 sneaker.

Its “court-ready” Jersey and Shorts debut comes with a newly designed Puma x Represent graphic, featuring mesh construction and contrasting trim “that nods to retro game-day uniforms”. 

The range is, of course, accompanied by “courtside essentials” including a Graphic T-Shirt and Hoodie, “pieces that bring bold visual detailing to the championship collaboration”.

A Coach Jacket and accompanying Pants also “comprise comfortable warm-up layers with everyday wearability”.

For footwear, Puma x Represent presents a re-envision All-Pro Nitro 2, a performance design underpinned by “explosive Nitro cushioning and a lightweight Ultraweave upper”. The black and white two-tone colourway is punctuated by subtle logo hits on the heel and tongue.

Complementing one of Puma’s “most modern examples of basketball performance technology”, the collection brings “a touch of ‘80s flair with the low-top Majesty”. 
 

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Toni Pons expands its US footprint with new store in Florida

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52 minutes ago

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January 20, 2026

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Published



January 20, 2026

Spanish label Toni Pons continues to expand its global retail network and has opened a new store in the US. The Catalan espadrille brand has opened in Miami Beach, Florida, at 1656 Lenox Ave. It is the brand’s second store in the state, following its opening at the end of 2024 in Boca Raton.

Interior of the new Toni Pons store in Miami – Toni Pons

The Spanish footwear brand, which will celebrate its 80th anniversary in 2026, announced the opening via its profile on the professional networking platform LinkedIn and described it as “a new chapter in its international journey.”

The Toni Pons store in Miami showcases the brand’s latest retail concept, presented last summer at its store in Platja d’Aro (Girona), designed to convey to customers the Mediterranean character that defines the brand.

Based in Girona, the footwear brand was founded in 1946 and currently operates more than 50 company-owned stores in Spain and abroad. The online channel is also a key pillar of its business, and the brand is available at around 4,000 multi-brand points of sale across nearly 90 markets. In financial terms, the brand records annual turnover of approximately €32 million.

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Bartolomeo Rongone to leave Bottega Veneta for Moncler

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1 hour ago

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January 20, 2026

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Published



January 20, 2026

In another change to Kering’s organisational structure: the group has announced that Bartolomeo Rongone, CEO of Bottega Veneta, will leave the group on March 31, 2026 to pursue new career opportunities.

Bartolomeo Rongone and Remo Ruffini – Moncler

The executive will step down from his role at Bottega Veneta on March 31, 2026, and will be appointed CEO of the Moncler Group with effect from April 1, 2026.

Under the Moncler Group’s new organisational set-up, Remo Ruffini will serve as executive chairman, retaining responsibility for creative direction and continuing to play a central role in governance and in shaping the group’s strategic direction.

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