Procter & Gamble Pivots to Luxury in China as Richemont Sells Brand

Procter & Gamble is introducing luxury silk diapers in China after reporting second-quarter earnings that beat expectations despite a slight revenue miss.Richemont agreed to sell its struggling Baume & Mercier watch brand to Italian jeweler Damiani while reporting an 11% holiday sales surge driven by the USA market.Paris Fashion Week featured new collections from Louis Vuitton and Dior as hospitality group Egnazia Ospitalità Italiana hired Riccardo Vannetti to manage its expanding portfolio.