Kering Appoints LVMH Fragrance Chief Spitzer as New Bottega Veneta CEO

The logo of French luxury group Kering is seen at the company's headquarters in Paris, France, April 24, 2025. (Reuters)
The logo of French luxury group Kering is seen at the company's headquarters in Paris, France, April 24, 2025. (Reuters)
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Kering Appoints LVMH Fragrance Chief Spitzer as New Bottega Veneta CEO

The logo of French luxury group Kering is seen at the company's headquarters in Paris, France, April 24, 2025. (Reuters)
The logo of French luxury group Kering is seen at the company's headquarters in Paris, France, April 24, 2025. (Reuters)

French luxury group Kering has appointed Romain Spitzer as the new CEO of Bottega Veneta, it said on Wednesday.

Spitzer, currently president and CEO of Fragrance Group LVMH Beauty, will ‌join the ‌Italian fashion ‌brand ⁠from September 1, the ⁠company said in a statement.

Bottega Veneta had been without a CEO since March 31.

The previous ⁠CEO, Bartolomeo Rongone, left ‌the ‌label earlier this year to ‌lead Italy's Moncler.

Spitzer ‌is a fragrance industry veteran.

His career includes stints at Jean Paul Gaultier, ‌Yves Saint Laurent, Christian Dior and LVMH.

He ⁠was ⁠promoted in October 2025 to lead the Fragrance business at LVMH Beauty.

Kering said Spitzer will focus on enhancing Bottega Veneta's desirability, deepening connections with clients worldwide and driving retail excellence across markets.



Cartier-Owner Richemont’s Jewellery Sales Boom Boosts Q1 Sales

The Cartier store in New York City, US July 7, 2026. (Reuters)
The Cartier store in New York City, US July 7, 2026. (Reuters)
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Cartier-Owner Richemont’s Jewellery Sales Boom Boosts Q1 Sales

The Cartier store in New York City, US July 7, 2026. (Reuters)
The Cartier store in New York City, US July 7, 2026. (Reuters)

Cartier jewellery owner Richemont reported better-than expected results for its first quarter on Wednesday, helped by booming growth in Asia and the Americas.

The company, which also owns Swiss watch brands Piaget and IWC, said its sales rose ‌by 20% ‌when measured in ‌constant currencies ⁠to €6.33 billion ($7.24 billion) ⁠in the three months to the end of June.

The figure beat analyst forecasts for €5.90 billion in a consensus compiled by Visible Alpha.

The growth was driven ⁠by the company's jewellery ‌business, which also ‌includes Van Cleef & Arpels, Buccellati and ‌Vhernier, where sales rose by 24%, ‌much better than the 11.5% rate expected by analysts.

Specialist watchmakers also increased their sales by 8% during the ‌period.

Regionally, Richemont continued to show strong growth in ⁠the Americas ⁠and Asia regions during the April to June period.

Sales in the Americas region increased by 27% up from the 18% growth rate in the previous three months, while the Asia/Pacific sales - which include China - increased by 21% compared with a growth rate of 14% previously.


Olivier Rousteing New Artistic Director at Paco Rabanne

Balmain's fashion designer Olivier Rousteing acknowledges the audience at the end of his ready-to-wear Fall-Winter 2024/2025 collection show as part of the Paris Fashion Week, at the Grande halle de la Villette in Paris on January 20, 2024. (AFP)
Balmain's fashion designer Olivier Rousteing acknowledges the audience at the end of his ready-to-wear Fall-Winter 2024/2025 collection show as part of the Paris Fashion Week, at the Grande halle de la Villette in Paris on January 20, 2024. (AFP)
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Olivier Rousteing New Artistic Director at Paco Rabanne

Balmain's fashion designer Olivier Rousteing acknowledges the audience at the end of his ready-to-wear Fall-Winter 2024/2025 collection show as part of the Paris Fashion Week, at the Grande halle de la Villette in Paris on January 20, 2024. (AFP)
Balmain's fashion designer Olivier Rousteing acknowledges the audience at the end of his ready-to-wear Fall-Winter 2024/2025 collection show as part of the Paris Fashion Week, at the Grande halle de la Villette in Paris on January 20, 2024. (AFP)

French designer Olivier Rousteing has been appointed creative director of Paco Rabanne, the Spanish luxury fashion house announced Tuesday.

"Rabanne is delighted to welcome Olivier Rousteing as the house's new creative director. His first collection will be presented in March 2027," the brand said in a post on Instagram.

Rousteing made his own social media pronouncement, showing a screenshot of messages exchanged with his mother, in which he confirmed his appointment, accompanied by the comment in English: "Let the journey begin".

"Joining Rabanne is a tremendous honor. This is a house that has always challenged convention, transforming bold ideas into creations that have shaped fashion history."

Rousteing saluted "the remarkable creative legacy" which he said predecessor Julien Dossena was leaving behind.

"For me, fashion is about emotion, identity, and the confidence to express who we truly are. That belief feels deeply connected to Paco Rabanne and his enduring vision of freedom and individuality," said Rousteing.

Dossena stepped down as Rabanne's creative director in June after 13 years at the helm.

Rousteing, who had been in charge of Balmain's collections for nearly 15 years, left the French brand in November 2025.

In recent weeks, he had posted social media messages indicating that he had been taking care of his health in recent months and now felt ready for a new challenge.

Known for his glamour and pop designs, he has some 10 million followers on Instagram and has sought to make luxury fashion more accessible to young fans.

In 2015, he notably designed a collection for a collaboration between Balmain and H&M. In 2022, Jean-Paul Gaultier entrusted him with the creative direction of one of his collections.

In May, he designed the dress which singer Beyonce wore for the Met Gala in New York.


Watches of Switzerland Sees Robust US Demand, Signs of UK Recovery

Rolex watches are displayed at a store in New York City, US, April 8, 2025. (Reuters)
Rolex watches are displayed at a store in New York City, US, April 8, 2025. (Reuters)
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Watches of Switzerland Sees Robust US Demand, Signs of UK Recovery

Rolex watches are displayed at a store in New York City, US, April 8, 2025. (Reuters)
Rolex watches are displayed at a store in New York City, US, April 8, 2025. (Reuters)

Luxury retailer Watches of Switzerland said on Tuesday that strong US demand had carried into its new financial year, while the UK market showed encouraging signs of improvement, after annual sales and ‌profit exceeded expectations. 

The ‌seller of Rolex and TAG Heuer ‌watches ⁠has benefited from affluent ⁠US consumers snapping up luxury timepieces amid a stock market boom. Its limited direct exposure to the Middle East and tourist shoppers also helped shield it from a slowdown in travel spending. 

Reuters reported on Monday, citing people familiar with the matter, that the company ⁠had held talks with potential bidders, as ‌it believes the stock ‌market undervalues the company despite its performance. 

Shares in Watches of ‌Switzerland were marginally lower on Tuesday after having risen ‌to their highest level since July 2023 on Monday following the report. 

Watches of Switzerland reported adjusted operating profit of £155 million ($207 million) on sales of £1.83 billion for the year ‌ended May 3, 2026, above company-compiled analyst expectations of £148.4 million in profit on revenue ⁠of £1.78 billion. 

The ⁠retailer, which operates in the United States, Britain and Europe, said that the US offered significant potential for further growth and market share gains after the region posted 24% sales growth and accounted for more than 50% of total group revenue. 

The company stuck to its outlook for fiscal year 2027 and said that it plans to focus on showrooms investments and selective acquisitions in the US in the mid-term, as brands increasingly consolidate towards fewer, higher-quality stores.