Sales growth at Kering slowed slightly in the third quarter, in line with expectations, as the luxury group offset some of the hit from turmoil in Hong Kong with strong spending by shoppers in other Asian markets.
Luxury retailer Barneys New York is close to being sold to licensing firm Authentic Brands Group after a competing bid from a trade show executive failed to qualify for a bankruptcy auction, sources have told Reuters.
The new, five-year licence deal between the Italian eyewear group and the French luxury label will start on January 1 2020 and end on December 31 2024, with the option of a 3-year extension until December 2027.
After specialising in luxury, the pre-owned fashion e-tailer is re-focusing on affordable luxury brands, while adapting its purchasing options and commissions to the mid-market segment, and eyeing global expansion.
The film by the French director, an environmentalist and Academy Award winner for ‘March of the Penguins’, is the first in a trilogy dedicated to the Italian luxury label’s expertise and its care for the environment.
Thriving demand in mainland China drove sales higher at luxury brand Hermès in the third quarter, helping it offset a slowdown in Hong Kong, and the company said on Thursday that the momentum had carried into October.
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.
International shopper spending growth is slowing in the UK and that's bad news for luxury fashion labels, although on the plus side, those shoppers who do visit Britain seem to be spending more per transaction.