Landlords may be under pressure, but Mayfair's Grosvenor has unveiled a radical plan to invest in the businesses of some retail tenants in the key shopping neighbourhood and "rewrite what it means to be a landlord".
Luxe label Canali has opened its new flagship on the corner of New Bond Street and Brook Street. The opening coincides with its 85th anniversary with Canali saying it “marks an exciting new chapter for the brand”.
Luxury shopping in the post-Covid era is seen again as an exclusive gratification, a localised, digital and sensorial experience through authentic, high-added-value products, according to market research firm Ipsos.
UK retail took a big hit on Friday with negative news that consumer confidence plummeted in October with GfK’s index delivering worsening figures ahead of what could be a dismal Christmas selling period.
French luxury group Kering confirmed a broad recovery in sales of high-end goods in the third quarter as Asian and U.S. demand helped revenues improve, though its star Gucci brand underperformed rivals.
Recovering sales of Louis Vuitton handbags helped LVMH contain the fallout from the coronavirus crisis in the third quarter, as the world's biggest luxury goods group reported a smaller-than-expected drop in revenues.
What is your definition of luxury? Most people would have a hard time agreeing, and a cleverly eclectic exhibition in the Musée des Arts Décoratifs in the Louvre entitled Luxes, which opens Thursday, redefines the term.
Swiss watch brand Frederique Constant, owned by Japan's Citizen Watch Co, is hoping to limit the fall in sales to 25% this year as September business was almost back to normal, its chief executive told Reuters.
Value Retail's boss says axing VAT reclaim is wrong and that there's no appetite for the alternative ship-to-home option. Meanwhile, another commentator has accused the government of a misleading consultation process.