French luxury group LVMH, led by Bernard Arnault, will invest millions of dollars in Lyst once again. The luxury fashion search engine wants to expand its global expansion this way.
LVMH, alongside venture capitalists
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French luxury group Kering achieved a 36.5 % turnover increase in its first quarter as Gucci took full advantage of a 90’s revival among young consumers: the luxury brand is “hot” among teens and saw its turnover
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Suitcase brand Rimowa, part of luxury group LVMH since 2016, has stopped all of its dealer contracts. It wants to initiate a new procedure soon and only a fraction of the current dealers will get a new contract.
Online luxury retailer Yoox Net-A-Porter has shown increased sales in the Middle East across 2017, but its profit did suffer. Nevertheless, the fashion retailer believes it will reach its five-year target.
Positive growth in
French luxury group Kering proved to be very successful in 2017: its turnover grew 25 % and its net profit more than doubled compared to the year before.
Kering’s 2017 turnover
French fashion brand Hermès’ fourth quarter turnover dropped 0.4 % but its full-year results were great, with a 7 % turnover increase and improved margins compared to the year before.
Growth in every
French luxury group Richemont achieved a 7 % third quarter revenue increase. Unfortunately, exchange rate fluctuations eliminated nearly everything.
Strong retail growth
Richemont’s overall third quarter turnover grew to
Luxury product manufactures can block retailers from selling their merchandise on online marketplaces like Amazon. The European Court of Justice has ruled on the matter after cosmetics manufacturer Coty filed a complaint.
Pop culture, fashion and luxury: they have gone hand in hand for ages, but their bond seems stronger than ever now. Why is Delvaux selling Game of Thrones handbags and how is Kim Kardashian helping the worldwide demand for luxury
Burberry’s first six months were very successful: turnover grew 9 % and the operational profit even shot up 28 %. Nevertheless, its share was punished, because investors have reacted skeptically to CEO Marco Gobbetti’s new strategy
Sidney Toledano, who has led French fashion label Christian Dior for the past nineteen years, will hand over the reins to current Fendi CEO Pietro Beccari in February. The move is part of a major reshuffle operation at the head of
Luxury jewelry and watch brands have long since ignored online sales, both through their own web shops and through third parties. Nowadays, it seems they have changed their mind, as the online world offers plenty of growth, especially compared to
French luxury group LVMH has devised a web shop called 24Sevres.com, that will focus on its own luxury brands and leave a space for other brands as well. The new online platform will launch on 6 June in seventy countries.
Launch with seventy
Despite Amazon's annual growth, its massive customer base and the forecast that it will become the largest clothing seller in the United States next year, luxury brands are still wary of the platform.
Well-known American gourmet chain Dean & DeLuca will open its first European store in London, good news for foodies with an unlimited budget...
Reports in the British medai state that the
Luxury brands can now open on Sunday in France, although it is only possible in several tourist areas. They will now be able to open their doors on Sunday 26 times every year.
The new legislation was signed in April and