House of Fraser faced the same challenges endured by much of UK retail over the six-week Christmas period with a slow performance in stores, although margins improved. But unlike some, its web sales also proved weak.
As anticipated, Kering announced its plan to cut its majority stake in Puma to focus on its luxury houses instead. Puma's CEO also said the brand would not be picking up Kering's Volcom brand under the transition.
Cartier maker Richemont said on Thursday solid sales growth in the quarter to Dec. 31 was driven by the Asia Pacific region and buoyant jewellery demand, kicking off the luxury goods reporting season on a positive note.
French fashion label Saint Laurent, part of Kering, will start selling online in China through a JD.com portal, joining shopping players like Alibaba in trying to tap strong luxury goods demand from Chinese consumers.
L'Oréal's deal with David Beckham will see the debut of House 99, a 21-piece grooming line next month, with its Harvey Nichols debut showing that this is intended to be no flash-in-the-pan mass-market celebrity brand.
Without doubt, the most important show of the London season has to be Grace Wales Bonner, the LVMH Prize winner of two years ago; whose fall-winter collection was a wonderful study of exile from the Caribbean.