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Chanel unveils arty new boutique in Miami

Chanel unveils arty new boutique in Miami

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.
Luxury
Top 100 luxury companies generated $252 billion in 2020

Top 100 luxury companies generated $252 billion in 2020

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.
Luxury
The RealReal reports 51% GMV increase in November

The RealReal reports 51% GMV increase in November

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.
Fashion
Thailand's Central denies Selfridges buy after report says it won £4bn race for firm

Thailand's Central denies Selfridges buy after report says it won £4bn race for firm

Thailand’s Central Group has denied it’s in talks to buy Selfridges after it was reported globally that the firm will buy the business, perhaps as soon as this month.
Fashion
Luxury goods groups Hermes, Richemont enter blue-chip Euro STOXX 50 index

Luxury goods groups Hermes, Richemont enter blue-chip Euro STOXX 50 index

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.
Luxury
Luxury brands that reject resale risk losing out, says study

Luxury brands that reject resale risk losing out, says study

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.
Luxury
Gucci heirs threaten legal action over Ridley Scott film

Gucci heirs threaten legal action over Ridley Scott film

The heirs of Italian fashion house Gucci on Monday threatened to take legal action over Ridley Scott's new film "House of Gucci" for depicting members of the family as "hooligans".
Luxury
Luxury: how can sector deal with radical rejuvenation of clientèle?

Luxury: how can sector deal with radical rejuvenation of clientèle?

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.
Luxury
Farfetch, Clipper Logistics form JV for global luxury e-fulfilment solution

Farfetch, Clipper Logistics form JV for global luxury e-fulfilment solution

​Farfetch has announced a new joint venture with UK-based logistics giant Clipper Logistics to create a major international e-fulfilment operation dedicated to the luxury industry.
Luxury
Nordstrom warns of supply shortages as holiday season approaches, shares plunge

Nordstrom warns of supply shortages as holiday season approaches, shares plunge

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.
Fashion
Suspects quizzed over California flash mob robbery

Suspects quizzed over California flash mob robbery

Three people suspected of being part of a robbery flash mob were being questioned Tuesday, the latest in a series of violent thefts in California involving sometimes dozens of people.
Luxury
Luxury watch marketplace WatchBox raises $165 million in funding round

Luxury watch marketplace WatchBox raises $165 million in funding round

Luxury watch marketplace WatchBox raised $165 million of equity capital in a funding round to continue its global expansion, it said on Tuesday.
Luxury
Richemont moves entire enterprise IT infrastructure to Amazon's AWS

Richemont moves entire enterprise IT infrastructure to Amazon's AWS

​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.
Luxury
Farfetch shares plunge despite revenue rise and Q3 profitability

Farfetch shares plunge despite revenue rise and Q3 profitability

​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.
Luxury
Burberry opens Shanghai flagship, features new concept

Burberry opens Shanghai flagship, features new concept

​Burberry has opened Shanghai Plaza 66, its latest flagship and the second such store to feature its new global design concept “that encapsulates the essence of the luxury house”.
Luxury
Gucci CEO sees 2021 sales in line with 2019, perhaps a little higher

Gucci CEO sees 2021 sales in line with 2019, perhaps a little higher

French luxury group Kering's top brand Gucci expects 2021 revenues to be in line or "a little higher" than their 2019, pre-pandemic level, the label's chief executive Marco Bizzarri said on Tuesday. 
Luxury