LVMH

French couture house Givenchy, owned by luxury goods giant LVMH (LVMH.PA) and known for once dressing Hollywood stars such as Audrey Hepburn, said on June 15 it had named Matthew Williams as its new creative director.

Singer Rihanna has stormed into the Sunday Times Rich List of musicians at number three, with an estimated wealth of 468 million pounds ($576 million), thanks partly to the success of her fashion and cosmetics brands with Louis Vuitton-owner LVMH. 

The nine richest businessmen in the world lost about $ 18 billion together on Wednesday, Forbes said, citing real-time ratings.

The publication explained the sharp decline in their fortunes with the fall of US equities after the Dow Jones Index hit its biggest drop in 2019 on Wednesday.

Rihanna is the richest lady in the music world. The prestigious Forbes Magazine set up the women who made a fortune.

The wealth of the 31-year-old singer is estimated at $ 600 million. She is followed by Madonna, which has $ 570 million in her bills, and Celine Dion - with 450 million.

L'Oreal said on Thursday it would appeal a 2.6 million euro ($3 million) fine imposed by Greece's competition authority, which ruled that the French cosmetics company and several of its rivals were fixing prices.

A host of French-owned fashion labels spanning Christian Dior to Saint Laurent pledged on Sept. 6 to ban ultra-thin models from their advertising and catwalk shows following repeated scandals about anorexia and mistreatment.

Global sales of personal luxury goods will grow by a stronger- than-expected 2-4 percent at constant exchange rates in 2017, as higher spending in Europe and China outpace weakness in the United States and southeast Asia, a report showed on May 29.

French billionaire Bernard Arnault moved to consolidate control over Christian Dior for about 12.1 billion euros ($13.2 billion), folding the fashion house’s operations into the LVMH luxury empire in one of his biggest transactions.

Prominent Turkish cosmetics retailer Tekin Acar has been acquired by France's Sephora, with both companies applying to Turkey's Competition Board for approval of the sale. 

The sale comes months after Tekin Acar boss Tekin Acar told journalists that both the sector and his business were facing difficulties. 

However in terms of value the Swiss watch industry remains the world's largest exporter, in 2016 the Swiss watch exports were even lower than in the previous year.