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Chinese snap up used Rolexes, Birkins to satisfy luxury cravings amid slowdown

By Casey Hall SHANGHAI, Sept 28 (Reuters) - China's coronavirus-driven economic slowdown is proving to be a boon for Zhu Tainiqi, the Shanghai-based founder of second-hand luxury goods marketplace ZZER, who is now scouting for shop space to expand the business. The former venture capitalist is seeing a surge in people looking to sell their Hermes Birkin bags or Rolex watches to raise cash, as well as a jump in interest from belt-tightening shoppers.
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European shares get September off to bad start as rate hike concerns grow

* EZ factory Aug activity shrinks as consumers stay cautious * Durex maker Reckitt announces sudden CEO departure * Miners lead losses; China's Chengdu locks down 21.2 mln people * German retail sales unexpectedly rise in July By Anisha Sircar and Shreyashi Sanyal Sept 1 (Reuters) - European stocks got September off to a weak start on Thursday, falling to seven-week lows on deepening worries about economic growth, aggressive interest rate hikes and record-high inflation.
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Luxury sneakers may be a step too far for cash-strapped Gen Z

By Casey Hall and Mimosa Spencer SHANGHAI/PARIS, Aug 18 (Reuters) - From $300 bucket hats to $900 sneakers and $700 t-shirts, the high-flying luxury sector is fretting over the appetite among financially stretched Gen Z consumers for such "aspirational" purchases. Executives are troubled in particular by a hit to young Chinese shoppers, not only because mainland China has been a major driver of the industry's growth in recent years, but also because high end consumers in the world's second-large
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China's Sanya holiday hotspot shuts duty-free malls, venues to curb COVID

By Casey Hall SHANGHAI, Aug 5 (Reuters) - Sanya, a top tropical holiday destination on China's southern Hainan island, began closing its duty free malls on Friday in response to a worsening COVID-19 outbreak. Since China shut its international borders in early 2020 to curb the spread of COVID-19, Hainan's duty-free industry has boomed, becoming a vital channel for global brands from Gucci to Coach, La Mer to L'Oreal OPREP.PA to reach Chinese shoppers.
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American tourists splurge in Paris boutiques as euro slides

By Mimosa Spencer and Doyinsola Oladipo PARIS, July 15 (Reuters) - American tourist Shawna Wilson says she has splashed out on four dresses at the high-end LVMH-owned department store La Samaritaine in Paris, tempted by the prices as the euro reached parity with the U.S. dollar. The euro tumbled below $1 on Wednesday for the first time in two decades on fears that rising energy prices triggered by the Ukraine conflict could tip the European Union into a prolonged economic crisis.
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Kering Adjusts Exchange Price Of Bonds Due 2022

May 12 (Reuters) - Kering SA PRTP.PA : * REG-KERING - NOTICE TO HOLDERS OF THE EUR 550,000,000 BONDS DUE 2022 ISSUED BY KERING (THE “ISSUER”) AND EXCHANGEABLE INTO EXISTING ORDINARY SHARES OF PUMA (THE “BONDS”) (ISIN: FR0013450483) * CALCULATION AGENT HAS DETERMINED THAT EXCHANGE PRICE IS ADJUSTED FROM EUR 92.17 TO EUR 91.8292, EFFECTIVE MA
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China COVID hard line eats into everything from Teslas to tacos

SHANGHAI, May 2 (Reuters) - When Tesla's TSLA.O Shanghai plant and other auto factories were shut over the last two months by emergency measures to control China’s biggest COVID-19 outbreak, the burning question was how quickly they could restart to meet surging demand. But with the Shanghai lockdown grinding into its fourth week, and similar measures imposed in dozens of smaller cities, the world’s largest boom market for electric cars has gone bust.
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Kering Issues Bonds Worth 1.5 Bln Eur

April 28 (Reuters) - Kering SA PRTP.PA : * KERING - DUAL-TRANCHE BOND ISSUE FOR A TOTAL AMOUNT OF 1.5 BILLION EUROS * KERING - ISSUED EUR 750 MILLION TRANCHE WITH A 3 YEAR MATURITY AND A 1.25% COUPON * KERING - ISSUED EUR 750 MILLION TRANCHE WITH A 8 YEAR MATURITY AND A 1.875% COUPON * KERING - ISSUE, IN LINE WITH THE GROUP’S ACTIVE LIQUIDITY MAN
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European shares firm after ECB stands pat on policy

(There will be no European market report on Friday and Monday on account of Good Friday and Easter. Reuters will resume coverage on Tuesday, April 19.) * ECB confirms plans to end stimulus; gradual rate hikes eyed in Q3 * STOXX 600 rises 0.7% * Volkswagen down on glum outlook * Tech stocks underperform By Anisha Sircar and Sruthi Shankar April 14 (Reuters) - European shares rose on Thursday as the ECB kept its policy stance largely unchanged and signalled a steady reduction of stimulus over the
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Mixed earnings cap gains in European shares ahead of ECB decision

(For a Reuters live blog on U.S., UK and European stock markets, click LIVE/ or type LIVE/ in a news window) April 14 (Reuters) - European shares held steady on Thursday after a mixed batch of earnings, while investors waited to hear from the European Central Bank amid risks to economic growth from rising inflation. The pan-European STOXX 600 index .STOXX was little changed by 0722 GMT following a strong finish on Wall Street and gains in Asian shares.
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European stocks fall as healthcare and banking sectors suffer losses

* Deutsche Bank slumps after stake sale * Leonardo up on Deutsche upgrade * U.S. consumer prices accelerate in March By Sruthi Shankar and Anisha Sircar April 12 (Reuters) - European shares fell on Tuesday as Deutsche Bank and Commerzbank slumped after a big stake sale, while a U.S. reading on inflation kept aggressive Federal Reserve tightening bets from ramping up.
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European stocks hit near 1-week low on global worries

(For a Reuters live blog on U.S., UK and European stock markets, click LIVE/ or type LIVE/ in a news window) April 12 (Reuters) - European shares on Tuesday fell to their lowest in nearly a week on growing worries about rising inflation, a surge in coronavirus infections in China and the fallout of the prolonged war in Ukraine. The pan-European STOXX 600 index .STOXX fell 1.1% by 0713 GMT, echoing weakness in Asian shares, with banks .SX7P among the worst hit.
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European stocks drop as Russia-Ukraine tensions escalate

(For a Reuters live blog on U.S., UK and European stock markets, click LIVE/ or type LIVE/ in a news window) * Banks, travel stocks tumble * Kering jumps on strong sales * Continental up on report of splitting business (Updates to close) By Sruthi Shankar and Shashank Nayar Feb 17 (Reuters) - European shares fell on Thursday as heightened Russia-Ukraine tensions eclipsed a slew of encouraging earnings from companies such as Kering, Reckitt Benckiser and Commerzbank.
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Strong earnings boost European shares amid Ukraine concerns

(For a Reuters live blog on U.S., UK and European stock markets, click LIVE/ or type LIVE/ in a news window) Feb 17 (Reuters) - European shares rose on Thursday as a slew of strong earnings from companies such as Airbus, Kering and Commerzbank lifted risk appetite, helping offset investor concerns over fresh tensions surrounding Ukraine. The pan-European STOXX 600 index .STOXX gained 0.2% by 0813 GMT.
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European stocks extend record rally after Xi-Biden talks, Prosus, Kering boost

* STOXX 600 hits another all-time-high * Kering boosts European retail sector * Vodafone earnings boost telecom stocks By Shreyashi Sanyal Nov 16 (Reuters) - Some European stock indexes extended their record rally on Tuesday, boosted by shares of Dutch technology investor Prosus and French luxury group Kering and lifted by optimism over easing in U.S.-China tensions.
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European stocks hit 6-week highs as Nestle shines in mixed bag of earnings

* STOXX 600 up 0.3%, oil stocks track crude higher * Kering slides as Gucci sales lose sparkle * Nestle's 2.7% jump boosts food & beverage stocks * Recovery in euro area has further to run - TS Lombard (Updates to close) By Anisha Sircar and Susan Mathew Oct 20 (Reuters) - European shares closed at six-week highs on Wednesday as strong results from Nestle boosted food company stocks, helping outweigh losses after a clutch of disappointing earnings including luxury group Kering and chipmaker ASML
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European stocks fall as luxury stocks feel pain from China's woes

* Umicore slips on cutting outlook * THG up after new corporate governance plan * LVMH, Kering lead luxury stocks lower * FTSE 100 falls from near 8-month high (Updates to close) By Anisha Sircar and Sruthi Shankar Oct 18 (Reuters) - European shares fell on Monday after weaker-than-expected growth data from China hit luxury stocks, while a relentless surge in commodity prices fuelled worries about inflation spiralling out of control.
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European shares dip on inflation worries, weak China data

(For a Reuters live blog on U.S., UK and European stock markets, click LIVE/ or type LIVE/ in a news window) Oct 18 (Reuters) - European shares opened lower on Monday, as surging commodity prices added to fears around a burgeoning energy crisis, while weak data from China kept concerns around slowing economic growth alive. The pan-European STOXX 600 .STOXX fell 0.4% by 0707 GMT after an upbeat start to the U.S.
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Kering, Cartier launch environmental pact for watches, jewellery

PARIS, Oct 6 (Reuters) - French luxury group Kering PRTP.PA , Richemont's CFR.S Cartier, and the Responsible Jewellery Council have teamed up to set environmental targets for watches and jewellery activities, challenging labels in the industry to commit to them too. The move comes amid heightened scrutiny of environmental issues among consumers, especially from the younger generations, key sources of future revenue growth for luxury labels.
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