عربي English Türkçe اردو فارسى
Logo
Latest News
Fashion

LVMH to Build New Workshop Making Louis Vuitton Bags in Italy 

A Louis Vuitton bag is seen in a shop in downtown Rome, Italy March 1, 2016. (Reuters)
A Louis Vuitton bag is seen in a shop in downtown Rome, Italy March 1, 2016. (Reuters)
TT
TT

LVMH to Build New Workshop Making Louis Vuitton Bags in Italy 

A Louis Vuitton bag is seen in a shop in downtown Rome, Italy March 1, 2016. (Reuters)
A Louis Vuitton bag is seen in a shop in downtown Rome, Italy March 1, 2016. (Reuters)

LVMH, the world's largest luxury goods group, plans a new factory in Italy producing Louis Vuitton bags and other leather accessories, the Tuscany region said on Friday. 

The workshop will be the largest in Italy entirely dedicated to making these products for Louis Vuitton, said the region, which signed a Memorandum of Understanding (MoU) with LVMH. 

It will be located in the small town of Sieci and will be the third making Louis Vuitton goods in the Tuscany region. 

The MoU has a duration of three years and envisages that the total number of staff employed by LVMH in the region will rise to 450, from 270 at present.  

Most Viewed

 
 
Fashion

Adidas Raises 2024 Guidance Again, Citing Good Brand Momentum

An Adidas shoe is seen in a store at the Woodbury Common Premium Outlets in Central Valley, New York, US, February 15, 2022. (Reuters)
An Adidas shoe is seen in a store at the Woodbury Common Premium Outlets in Central Valley, New York, US, February 15, 2022. (Reuters)
TT
TT

Adidas Raises 2024 Guidance Again, Citing Good Brand Momentum

An Adidas shoe is seen in a store at the Woodbury Common Premium Outlets in Central Valley, New York, US, February 15, 2022. (Reuters)
An Adidas shoe is seen in a store at the Woodbury Common Premium Outlets in Central Valley, New York, US, February 15, 2022. (Reuters)

Adidas on Tuesday raised its full-year sales and profit guidance, citing better than expected performance in the third quarter and good brand momentum as it benefits from popularity of its three-striped Samba and Gazelle shoes.

The German sportswear brand raised its forecasts for the third time this year, saying it now expected currency-neutral revenues to increase by around 10% this year, having previously forecast a high single-digit rate.

Adidas also raised its profit forecast for the year to 1.2 billion euros ($1.31 billion) from 1 billion euros.

Over the third quarter, Adidas revenue grew 7% to 6.438 billion euros, slightly above analysts' estimates of 6.416 billion euros.