The luxury market is facing a significant challenge as recent economic pressures lead luxury brands to reconsider their pricing strategies. This landscape shift is not just a reaction to inflation; it reflects a broader recalibration of consumer expectations in the high-end market. Notably, brands like Mulberry, Burberry, and Capri Holdings are publicly acknowledging the disconnect […]
François Pinault Out of the Global 100 Richest
Francois Pinault, the esteemed founder of Kering SA, has experienced a dramatic decline in his wealth, which has dropped by two-thirds from its peak in August 2021. As of November 2024, he is ranked No. 105 on the Bloomberg Billionaires Index, marking a significant departure from his previous position among the top hundred wealthiest individuals […]
The Business of Beauty Haul of Fame: The Next Status Bag Is for Your Makeup
Sales of “beauty bags” are booming. Is it Carrie Bradshaw’s fault? In an era where celebrity influence shapes consumer behavior, the rise of designer makeup cases as a status symbol can be traced back to iconic media figures like Sarah Jessica Parker. Often seen clutching the luxurious Louis Vuitton Pochette, the traditional makeup pouch has […]
Clean Skin Club’s Face Towel Raises $32 Million
In a significant move within the skincare sector, Clean Skin Club has secured $32 million in funding to propel its growth and expansion in retail. Led by Astō Consumer Partners, along with California-based Amberstone Ventures, this investment marks a pivotal moment for the brand, particularly following its successful entry into major retail outlets like Target. […]
Kering’s Balenciaga CEO Charbit Set to Lead Yves Saint Laurent
Kering SA, the luxury fashion powerhouse, is reportedly considering Cedric Charbit, the current CEO of Balenciaga, as the next leader of Yves Saint Laurent. The anticipated transition comes in the wake of Francesca Bellettini, the incumbent CEO, stepping into a more prominent role within the struggling French fashion conglomerate in 2023. This strategic move is […]
Louis Vuitton Opens Temporary NYC Flagship Store
Louis Vuitton has recently unveiled a stunning temporary flagship store on Fifth Avenue in New York City, marking a pivotal moment for the luxury brand during a three-year renovation of its original flagship location. This five-story retail space stands as an impressive replacement, featuring a unique blend of luxury retail, gastronomy, and exclusive shopping experiences. […]
LVMH Moves Alexandre Arnault to Headquarters, Fuelling Succession Talk
In a significant reshuffle at LVMH Moët Hennessy Louis Vuitton, Alexandre Arnault, one of the billionaire founder Bernard Arnault’s sons, is returning to the luxury conglomerate’s Paris headquarters after serving as Executive Vice President of Product and Communications at Tiffany & Co. This change marks a new chapter for both Alexandre and the company as […]
### LVMH’s Sophie Brocart Heads to Chanel in New Sustainability Role
Sophie Brocart’s transition from LVMH to Chanel marks a significant moment in the luxury fashion sector, reflecting a growing commitment to sustainability within high-end brands. As former CEO of Patou, since 2018, Brocart has played a crucial role in revitalizing the brand under designer Guillaume Henry. Now, her new position at Chanel focuses on creating […]
Moncler Not in Talks to Take Over Burberry, Sources Say
In recent days, the luxury fashion industry has been buzzing with speculation surrounding a possible takeover of Burberry by Italy’s Moncler. However, insiders have now clarified that Moncler is not in discussions to acquire the British luxury brand, as reported by multiple sources. This clarification comes after a dramatic roller-coaster for Burberry’s stock, which saw […]
Prada Family Has a Plan in Place to Avoid Succession Drama
The luxury fashion industry faces heightened scrutiny as leadership transitions loom on the horizon. One household name navigating these choppy waters is Prada SpA, seamlessly shifting power within the family while securing its future in an increasingly competitive market. With Miuccia Prada and Patrizio Bertelli, the couple credited with transforming a humble leather shop in […]