The iconic French fashion house opened a new boutique in Miami’s Design District on Thursday, revealing a two-floor couture destination designed by architect and longtime brand collaborator Peter Marino.
Following a challenging year, Deloitte’s latest Global Powers of Luxury Goods report shows that the revenues generated by the world’s top 100 luxury companies dropped from $281 billion in 2019 to $252 billion in 2020.
The luxury resale marketplace announced on Thursday that gross merchandise value on its platform totaled approximately $146 million in November, with growth driven by shopping holidays such as Black Friday.
Luxury goods companies Hermes and Richemont won promotion on Wednesday to the blue-chip Euro STOXX 50 equity index, which could increase investment funds' demand for the stocks that have hit all-time highs.
According to a new report from McKinsey, exploring the rapidly growing resale market not only opens a new revenue stream for luxury labels but could also have a positive effect on brand loyalty and desirability.
By 2025, 70% of luxury consumers will be aged below 40, forcing labels to revise their approach and values, broadening them to include more culture-based elements, according to the latest study by Bain & Co.
Nordstrom Inc said labor costs pinched its quarterly profit and warned of product shortages at its off-price stores heading into the holiday season, sending its shares down 23% in extended trading on Tuesday.
Richemont is moving its enterprise IT infrastructure to Amazon Web Services in a deal to drive more dynamic e-tail experiences, more personalisation, better supply chain management and many other benefits.
Investors are usually forgiving of tech firms when they spend years targeting the kind of profitability they’d like, but they weren’t forgiving Farfetch on Thursday as the firm’s shares fell 22% in late trading.
Cartier has added to their festive video colleciton with a new short featuring 12 Friends of the House. Boldface names like Lily Collins, Willow Smith and rapper Jackson Wang star in choral scenes released Tuesday.