LVMH Wines to grow “double-digit” in China

The French luxury group LVMH Wine is growing double-digit in China. According to Bloomberg, the CEO of Moet Hennessy Philippe Schauss says that the Chinese consumers are interested in luxury products and the growth rates are good. He was speaking with Bloomberg at the China International Import Export Fairs in Shanghai.

He also commented the market situation with the unrest in Hong Kong saying it has had a modest impact in the sales of LVMH Wines in Hong Kong. According to Mr. Schauss the US trade talks with 25 % import tariffs for French wines and whisky is something they are watching closely.

The Chinese markets are the second biggest wine markets globally.

 

 

 

 

 

Business Lifestyle

Tiffany valuation in the possible LVMH merger

The merger process between Tiffany (TIF) and its the French rival LVMH (LVMH) might be more complicated than earlier expected. According to Reuters, Tiffany thinks the French luxury group LVMH (LVMH) has significantly undervalued the Tiffany market value. Earlier the LVMG Group presented a takeover bid of 120 dollars per Tiffany share.

According to the news, the offer “significantly undervalues” Tiffany, Reuters writes citing unidentified people familiar with the matter.

Tiffany´s market value has increased to 15,06 billion dollars and the shares are trading at 124,69 dollars in NYSE, New York. The next Q3 earnings report is coming on December the 12th.

 

Finance Lifestyle

China Pacific and Swiss Re are in talks – Bloomberg

The Chinese insurance company China Pacific Insurance and Swiss Re are in talks, says Bloomberg. According to the news, China Pacific would invest 2 billion dollars for a stake in Swiss Re and Swiss Re would invest 500 million – 1 billion dollars in China Pacific shares.

The China Pacific is looking for partnerships overseas and the company is also planning a GDP for global depositary receipts program in the London Stock Exchange. According to the news, this would mean about 10 % of the company’s A-shares capital.

Both companies shares have increased modestly in Zurich and in Hong Kong and Shanghai. Swiss Re rose 2,3 % in Zurich yesterday and China Pacific over 2 % today in Asia.

Lifestyle

US considers to cut some China tariffs

The US is condidering to cut Chinese tariffs in order to boost the negotiations further.

The US President Donald Trump and China’s Xi Jinping are expected to enter the deal discussion after the cancelled Apec meeting in Chile.

The news helped stock markets to enter new hights in New York. For example Nasdaq- index and Dow Jones closed record high on Tuesday trading.

Business Finance

Fashion designer Marc Jacobs is selling his art collection at Sotheby’s -WSJ

Fashion designer Marc Jacobs is selling his own collection of comtemporary art and design works, including jewellery, at Sotheby’s in November, the Wall Street Journal writes.

Mr Jacobs is the head designer of his own fashion brand. During the years 1997 – 2014 he worked in Louis Vuitton’s as creative director.

According to him, “when you move to Frank Lloyd Wright house, there is not a lot of wall space to hang your painting”, he said regarding the sale of the collection.

Design Lifestyle