Valentino has switched eyewear partners in a deal with Akoni Group for the design, manufacture and worldwide distribution of its eyewear after previously working with Luxottica in a partnership that has ended early.
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.
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.
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.
The fashion events calendar is struggling to get back to some sort of normality as UK lockdowns end while the pandemic rumbles on, and the menswear edition of London Fashion Week is being affected by this.
The parent company of brands including Donna Karan, DKNY and Sonia Rykiel has reported net sales of $1.02 billion for Q3, reflecting a 22.8% increase from $826.6 million in the same period in the previous year.
Red carpet events may have been thin on the ground in the past 18 months, but they still have the power to influence consumer fashion choices. And two high-profile red carpets have shown that in the past few few days.
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.