US jeweler Tiffany & Co’s shareholders on Wednesday approved a $15.8 billion deal with France’s LVMH, ending an acrimonious dispute between the two luxury retailers that had stretched for more than a year.
Liberty's sales rose and its losses narrowed in the year to February, it said this week. But since then, lockdowns have put it under heavy pressure and while its owners are supportive, times are tough for the flagship.
This year has increased the importance of Chinese consumers to the luxury sector as the overall market has shrunk while China’s purchases have surged. And there's more to come in the next few years too.
Yoox Net-A-Porter is running two pilot Digital ID technology programmes ahead of a rollout across all of its private-label collections from next year. It said the move will accelerate circularity in luxury and fashion.
Cartier has debuted a new boutique in central Paris, which reveals the top-shelf jeweler’s new vintage offer of rare watches, and underlines how Paris is slowly, but surely, wakening from the lockdown.
The boss of Harrods says it's bouncing back from the pandemic but 2021 could be worse than hoped due to changes to VAT-free shopping rules. He also thinks Chinese consumers will shop more in their domestic market.