Gemfields, the British mining corporation, has revealed that the global health crisis will have a “significant detrimental impact” on its operations, revenues and business during 2020 and possibly beyond.
Africa-focussed miner Petra Diamonds on Friday suspended its production forecast for fiscal 2020 and said it was in "active talks" for near-term financing, amid worries over the worsening coronavirus crisis.
LVMH has denied planning to buy Tiffany shares on the open market, contradicting market rumors stating that they were about to do exactly that, after the US jeweler's stock price fell on the New York Stock Exchange.
French luxury goods maker LVMH, which last year agreed to buy Tiffany & Co for $16.2 billion, is considering buying shares of the U.S. jeweler for less on the open market, Bloomberg News reported on Thursday.
The jewellery maker has closed all stores in the US, Italy, Germany, France and Spain in response to the public health emergency. All employees will continue to receive their full salaries for “at least” eight weeks.
The Danish jewellery maker will remove 180 jobs from its three regional offices as part of a strategic reorganisation to ensure faster operations. The move will see all three regional presidents lose their titles.
Louis Vuitton closed out the four-week international catwalk collections on Tuesday with the most brilliantly staged single show of all and a powerful, agenda-setting collection that played on the notion of bending time.