Consumers are continuing to buy luxury items during the international lockdown with online sites in Britain seeing particular interest in designer handbags and expensive sneakers, a report said on Tuesday.
The online personal styling service reported a 21% increase in net revenue for the first quarter on Monday and announced the appointment of Elizabeth Spaulding as its new president, effective January 27, 2020.
Millennial and Gen Z consumers, especially from Asia, plus the growth of online, a booming secondhand market, and a desire for social responsibility are all pushing growth higher in the luxury market, a new study shows.
Jewellery is a booming, sought-after sector, as shown by LVMH’s recent bid for Tiffany & Co. FashionNetwork looks into the advantages and potential of an industry still little-known and underexploited by luxury groups.
In order to win over younger consumers, the luxury industry should focus on emotion and transparency, while giving new importance to products and stores, according to a new study from consultancy firm Bain & Company.
China’s second-largest e-commerce firm JD.com Inc has appointed Jason Hu, a former managing director at a Chinese private equity firm, as head of strategic investment to oversee deals both at home and overseas.