Richemont mixed good news with bad on Friday as it delivered its full-year results, with the giant luxury group reporting resurgent demand in China on the reopening of its stores, but also a profits plunge.
Chanel has joined Rolex, Patek Philippe, Chopard and Tudor in a dramatic group decision to quit Baselworld and create their own luxury watch salon in Geneva, a potentially paradigm shift in the industry.
The latest luxury retailer to enter the vintage watch business is Bucherer, the largest big boutique for quality watches in Paris. It debuts a new Certified Pre-Owned section on Friday in its Parisian flagship.
One of the pioneers of online luxury retail, Yoox Net-A-Porter’s CEO Federico Marchetti, is to step down from his role in charge of the Richemont-owned group, although he will stay on as chair of the firm.
As sales are seen to be slowing down, and with the arrival of a new CEO, French label Chloé might, according to some sources, be about to dismiss its creative director for ready-to-wear, leather goods and accessories.
The spread of the deadly coronavirus in China could mean the world’s luxury industry seeing sales dented by fewer Chinese shoppers travelling abroad, tax-free payments specialist Planet said on Thursday.
Men's fashion was hybrid at Sacai, rebellious and romantic at Dunhill, oscillating between past and future at Acné Studios, strength and fragility at Ludovic de Saint Sernin, and sportswear and couture at Pigalle.