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.
In H1 of the current financial year, L’Occitane International (owner of L’Occitane, Erborian and Melvita) posted a 22% revenue rise, largely driven by skincare brand Elemis, bought by the group in March 2019.
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.
Bvlgari and Save the Children are celebrating the tenth anniversary of their partnership with the #GiveHope campaign, which has brought together a myriad of stars including Eva Green and Lily Aldridge.