Kering SA agreed to sell its beauty division to L’Oreal SA as part of a long-term strategic alliance, with Chief Executive Luca de Meo seeking to turn around the French luxury giant’s fortunes. https://t.co/kvMWoUKLYg ...

Heard on the Street: For luxury brands trying to win back shoppers, secondhand sellers have become a potential nuisance https://t.co/eOtrDWizM8 ...

Core Insights - Palantir Technologies has seen a significant stock price increase of over 300% in the last year, rising from under $10 to about $180, but its valuation is considered unsustainable with a price-to-sales ratio of 132, indicating potential poor returns in the next decade for its $400 billion market cap [2][9] Group 1: ASML Holding - ASML Holding is positioned to benefit from AI advancements more than Palantir, being a crucial player in the semiconductor supply chain with its lithography printing tools [4][5] - ASML's lithography equipment is essential for manufacturing advanced computer chips, with a new version costing chipmakers $400 million, highlighting its significant pricing power and backlog due to AI chip demand [5] - ASML expects to generate annual revenue between €44 billion and €60 billion ($51 billion to $70 billion) in five years, compared to Palantir's current revenue of $3.44 billion, with ASML also having a better profit margin of 35% versus Palantir's 17% [6][7] Group 2: Hermès - Hermès, a luxury goods manufacturer, is experiencing steady growth that is relatively immune to economic cycles, with products priced at $10,000 or more, showcasing significant pricing power [8] - Hermès has superb profit margins and consistent revenue growth, positioning it to outperform Palantir as an investment [9]

Core Insights - Luxury resale platforms are experiencing faster growth compared to the primary market, prompting major fashion houses to reconsider their strategies to retain customers [2] Industry Summary - The RealReal, a leading luxury resale platform, is highlighted as a significant player in this growing market [2]

Sales of secondhand luxury goods are growing faster than in brands' own stores. ...

Core Insights - The article highlights a potential deal as an initial strategy by new Kering CEO Luca de Meo to rejuvenate the luxury brand's performance [1] Company Summary - Kering is undergoing leadership changes with Luca de Meo taking the helm, indicating a shift in strategic direction aimed at revitalizing the company's market position [1]

Market Trends - India's Diwali gold rush exhibits unique characteristics, suggesting a shift in consumer behavior [1] - Consumers are buying more gold but wearing less, indicating a change in usage patterns [1]

Market Overview - Gold continues its record run, trading around $4,300 an ounce, up approximately 60% year-to-date, as investors seek safety amid market volatility [5][90] - The Dow is up around 70 points, while the Nasdaq has also turned positive, indicating a recovery from earlier losses [2][3] - Concerns over fraudulent loans have led to a significant selloff in regional bank stocks, which lost over $100 billion in market value [8][4] Consumer Spending Trends - Discretionary spending has slowed, particularly among lower-income households facing inflation and stagnant wage growth, while higher-income consumers continue to spend robustly [34][36] - American Express reported a 9% increase in card member spending, driven by wealthier customers [34] - The bifurcation in consumer spending is evident, with lower-income consumers visiting more outlets to find better deals [38][39] Banking Sector Insights - Concerns about a broader credit crisis have emerged following reports of losses from regional banks due to alleged fraudulent loans [8][4] - Moody's Analytics chief economist noted that while there are idiosyncratic issues, the banking system does not currently show signs of systemic problems [9][10] - Net interest margins are improving, and credit quality remains generally good despite some weaknesses in consumer finance [10][11] Housing Market Dynamics - Builder confidence has increased, with future sales expectations surpassing 50, indicating optimism despite current challenges [51][53] - Mortgage rates are expected to remain between 6% and 6.5% for the next year, with builders offering discounts to attract buyers [55][57] - Regulatory burdens are cited as a significant challenge for builders, contributing to high costs and delays in housing production [61][62] Analyst Calls and Stock Recommendations - Bank of America raised AMD's price target to $300, citing greater visibility into its AI hardware platform [68] - HSBC upgraded Freeport McMoran to buy, raising its price target to $50, benefiting from current gold market conditions [69] - Deutsche Bank upgraded Intuitive Machines, viewing it as a strong player in the space exploration market [70] Cryptocurrency Market Movements - Bitcoin has fallen to its lowest level since June, with significant outflows from Bitcoin and Ethereum ETFs totaling nearly $600 million [108] - The crypto market is experiencing profit-taking as investors shift towards safer assets like gold [109][110] - The total industry market cap for cryptocurrencies is around $3 trillion, with Bitcoin and Ethereum leading the market [112]

Hermes said its artistic director of menswear, Veronique Nichanian, would step down after her last show for the French luxury house in January after 37 years at the company https://t.co/GHuuZdUhfu ...

A new shopping destination is set to open in Mumbai next month.Galeries Lafayette will bring many international brands like Balmain and Marni to India for the first time. Read more in @menakadoshi’s India Edition newsletter: https://t.co/VuECQiRSFc https://t.co/w1pm4tLl8a ...