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.
The BFC promised a new and different experience for The Fashion Awards on Monday night and it justified the hype. Yet it was also a sad event given the news of the death of 'leaders of change' honouree Virgil Abloh.
A good week-on-week gain, but still well below pre-pandemic numbers. That was Black Friday (26 November) shopper traffic numbers across the UK. Footfall was 35% higher week-on-week, but still down 23% on two years ago.
London West End footfall in the seven shopping days from 22-28 November inched up 2% week-on-week, and rose 11% over last year's Black Friday, latest figures from the New West End Company (NWEC) showed on Monday.
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.
David Beckham retains his status as a top global fashion influencer even though younger celebrities such as Harry Styles are also making a huge impact now. And for women, Billie Eilish is top of a new ranking.