currency news and archive

The euro is at near parity against the US dollar, what this means for luxury fashion

On the day that the euro announced Croatia would be the 20th country joining the currency, its value slid to near parity with the dollar. While analysts are speculating how low the euro can go, it is the first time in its 20-year history that the dollar is nearly even, with the euro having lost more than 10 percent of its value since the start...

Fashion

Chinese luxury shoppers relish fall of Russian ruble

The fall of the Russian ruble has prompted Chinese shoppers to take advantage of cheaper luxury goods. Chinese shopping agents who shop for Chinese customers abroad were quick to buy Russian products to avoid higher import taxes payable at the official retail channels in mainland China. When the Russian currency slid over the last week at one...

Design

Currency swings hit profits at luxury goods giant

Top global luxury goods giant LVMH, owner of Louis Vuitton and Givenchy, said on Thursday that its first-half profits have beenhit by unfavourable exchange rates. Net profit in the first six months of the year slid 4 percent to 1.51 billion euros, the company said in a statement. The result fell short of the average forecast of 1.64 billion...

Fashion

Weakening euro may benefit fashion companies

A weakening euro may mean good things for fashion companies who's major markets lie outside of Europe. According to Bloomberg, the forecasting of a weakening euro and Swiss franc against the dollar is good for shares of European luxury-goods companies. When a large proportion of sales come from outside the European union, like the US, Asia and...

Design

Currency Trends just as hard to Predict as Fashion

Fashion is notoriously hard to predict. In the early 1990s, who would have thought that skinny jeans and quiffs would have been in vogue – when the unkempt baggy, ‘Nirvana’ look was so trendy. There’s no way of telling what the fashion of the future will look like, and it’s not always just simply about being different for the sake of it. The...