Saks Needs to Earn Back Brands’ Trust Relations between the owner of Saks, Neiman Marcus, and Bergdorf Goodman and its vendors are at an all-time low. But both sides need each other more than they’d like to admit. The world of luxury retail is built on relationships as much as it is on the products […]
Saks Wanted to Clear the Air With Brands. The Plan Backfired.
Saks’ Attempt to Reset Brand Relationships Leads to Backlash Relations between Saks Global and the myriad of brands filling the shelves of its department stores have hit a roadblock recently. The conglomerate, which owns luxury retailers Saks Fifth Avenue, Neiman Marcus, and Bergdorf Goodman, made an unexpected move by issuing a letter outlining revised payment […]
Drest’s Lucy Yeomans on the Next Iteration of Fashion Gaming
Drest’s Lucy Yeomans on the Next Iteration of Fashion Gaming Fashion gaming has taken a new turn with Drest, the fashion styling mobile app that recently received a significant $19.1 million investment in June 2023. This infusion of capital has paved the way for Drest to relaunch as a groundbreaking marketing tool that leverages storytelling […]
OTB’s Annual Sales Fall 4% Despite Growth at Diesel and Margiela
OTB Struggles with 4% Sales Decline Despite Success Stories at Diesel and Margiela Italian fashion conglomerate OTB, known for its renowned brands such as Diesel, Jil Sander, Maison Margiela, Marni, and Viktor&Rolf, faced a challenging year in 2024. Despite individual success stories within the group, OTB reported a 4.4% decline in turnover, amounting to €1.8 […]
Richemont Elevates Jewellery Bosses in Fresh Executive Shakeup
Richemont Elevates Jewellery Bosses in Fresh Executive Shakeup Luxury conglomerate Richemont has recently made waves in the industry with its strategic executive promotions. Catherine Renier, the mastermind behind the success of the iconic Van Cleef & Arpels jewellery brand, has been catapulted to the company’s senior executive committee. Joining her is Louis Ferla, the esteemed […]
Hermès Sales Accelerate, Raising Hopes for China Turnaround
Hermès Sales Accelerate, Raising Hopes for China Turnaround The renowned luxury brand Hermès has recently reported a significant surge in revenue, marking an 18 percent increase at year-end. This positive development has sparked optimism among investors and industry experts, particularly due to the notable sales growth in China. The country’s previously sluggish economy had been […]
LVMH media unit drops lawsuit against Musk’s X
LVMH Media Unit Drops Lawsuit Against Musk’s X: A Strategic Move Toward Expansion In a surprising turn of events, LVMH, the luxury conglomerate, has decided to drop its lawsuit against Elon Musk’s media company, X. This decision marks a significant shift in the ongoing legal battle between the two entities. While the details surrounding the […]
Why Luxury Is Broken
Why Luxury Is Broken The luxury industry is currently facing a crisis of identity and direction, as evidenced by the recent flurry of leadership changes at the top of major brands. This ongoing turbulence within the sector points to deeper issues that have been brewing for some time. From changing consumer preferences to the rise […]
Inside the Fashion Opportunity in Dubai
Inside the Fashion Opportunity in Dubai Dubai has long been established as a global hub for luxury and fashion, attracting designers, retailers, and enthusiasts from around the world. With its opulent malls, extravagant events, and affluent clientele, the city presents a wealth of opportunities for businesses looking to make their mark in the industry. By […]
Kim Jones Exits Dior Homme
Kim Jones Exits Dior Homme In a surprising turn of events, Kim Jones, the visionary artistic director of Dior Homme, is bidding farewell to the LVMH-owned menswear line after an illustrious seven-year tenure. Jones, known for his innovative designs and ability to blend streetwear with high fashion, has undoubtedly left a lasting impact on the […]