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.
Victoria Beckham’s fashion business remains loss-making and the latest accounts, for 2018, show that its losses widened last year as sales fell. But it also talked of profitable Q4 EBITDA for the current year.
Luxury giant LVMH and American jeweller Tiffany have confirmed that they've “entered into a definitive agreement whereby LVMH will acquire Tiffany for $135 per share in cash," valuing Tiffany at €14.7bn/$16.2n.
JP Hackett has opened the Savile Row townhouse location that it announced earlier this year with the high-end menswear brand adding further to its central London offer as the nearby Jermyn Street location remains open.
Burberry has introduced a new global parental leave policy and will offer all employees 18 weeks of parental leave at full pay and the opportunity to work a 30-hour week at full pay for four weeks on their return.
In response to the challenge issued by Gucci CEO Marco Bizzarri, the digital-first luxury consignment marketplace has announced that it is accelerating its sustainability plans and now aims to be carbon neutral by 2021.