The luxury watch industry, long celebrated for its craftsmanship and elegance, is presently navigating through a challenging landscape. After a turbulent two-year period marked by soaring prices and a corresponding drop in demand, there are signs that the market may be on the verge of recovery. This prospect is driven by a shift in consumer […]
Hodinkee Names New Editor-in-Chief
Hodinkee, a leading online platform for watch enthusiasts, recently appointed James Stacey as its new editor-in-chief. The decision comes in the wake of the site’s acquisition by Watches of Switzerland Group, signaling a strategic pivot towards revitalizing its editorial vision. Stacey, who has been with Hodinkee since 2017, faces the challenge of reinvigorating the brand’s […]
Hermès Faces Slowest Quarter in Years as Luxury Woes Spread
In today’s ever-changing luxury market, Hermès is encountering significant challenges that threaten to shake its long-standing reputation for resilience. The iconic Birkin bag maker is projected to report its weakest quarterly revenue growth since late 2021 when it releases third-quarter sales figures this Thursday. Industry analysts are closely watching this development, as it may indicate […]
China’s Booming Grey Markets Add Woes to Luxury Brands
The luxury market in China is facing a significant challenge as grey and second-hand markets continue to expand. With rising prices from high-end brands and a slowing economy, many consumers are turning to alternative ways to purchase luxury goods, a trend that is becoming increasingly pronounced and alarming for established luxury brands such as LVMH. […]
This Week: How Deep Will Luxury’s Downturn Go?
In the world of luxury goods, the recent woes of LVMH, Kering, Hermès, and Zegna raise pressing questions about the future direction of the sector. Following LVMH’s disappointing sales figures, analysts and investors alike are questioning just how far this downturn will extend. The situation becomes especially alarming given LVMH’s status as the leading indicator […]
Luxury Market in Flux: Can Fiscal Stimulus Resurrect Chinese Consumer Confidence?
Investors in the French luxury group LVMH are tuning in closely to the latest economic developments in China, particularly the country’s new fiscal stimulus measures. There’s a palpable hope that these efforts might rejuvenate a once-vibrant consumer base that has cooled significantly in recent months. As one of the largest shopping events—Singles Day—approaches, the stakes […]
Worldview: Debunking China’s Consumption Myths
In recent discussions surrounding China’s economy, prevalent myths about consumer behavior have surfaced, leading to misinformed conclusions about the market’s future potential. A new analysis by McKinsey & Company sheds light on the real state of consumption in China, revealing both challenges and hidden opportunities. Daniel Zipser, a senior partner based in McKinsey’s Shanghai office, […]
Breitling CEO ‘Quite Confident’ Luxury Industry Has Hit Bottom
Georges Kern, the CEO of Breitling AG, recently expressed optimism regarding the luxury watch sector, asserting that it has reached its low point. His confidence comes amid economic challenges heavily influenced by a slowdown in the Chinese market, a vital area for luxury goods sales. In an interview with Bloomberg Television, Kern highlighted a significant […]