Estée Lauder Companies, L’Oréal Suffer as China Duty-Free Spend Continues to Fall The allure of the Chinese travel retail market has long been a beacon of hope for global beauty conglomerates like Estée Lauder Companies and L’Oréal. With the influx of Chinese tourists seeking luxury goods at duty-free shops, these companies positioned themselves to capitalize […]
UK’s JD Sports Falls on Lower Sales, US Tariffs Warning
UK’s JD Sports Sees Decline in Sales Amid US Tariff Concerns UK-based sportswear giant JD Sports recently found itself facing a challenging start to the year as it reported a 2 percent drop in first-quarter sales. This unexpected decline has raised concerns not only within the company but also across the retail industry as a […]
Target Cuts Sales Forecast on Shopper Pullback, Tariff Hit
Target Cuts Sales Forecast on Shopper Pullback, Tariff Hit Amidst the ever-changing landscape of retail, Target has recently adjusted its sales forecast for the year. The popular retailer now anticipates a decline in net sales by a low single digit. This revision comes as a surprise, especially considering the previous guidance, which hinted at an […]
BoF Masterclass | How Brands Build Genuine Communities
BoF Masterclass | How Brands Build Genuine Communities In the ever-evolving landscape of business and marketing, one thing remains constant: the power of community. Building a genuine and engaged community around a brand is not only a smart business move but also a way to create lasting relationships with customers. This concept is at the […]
What’s the Carbon Footprint of Your Shoes?
What’s the Carbon Footprint of Your Shoes? Efforts to map the footwear industry’s carbon footprint have lagged behind those in fashion. A new study aims to start addressing that. When it comes to environmental impact, the fashion industry often steals the spotlight for its carbon footprint. From the production of textiles to the transportation of […]
The End of the Lipstick Index
The End of the Lipstick Index The beauty industry, long hailed for its resilience in the face of economic uncertainty, is now facing a new reality – the end of the lipstick index. For years, the lipstick index, coined during the recession of the early 2000s, referred to the phenomenon where sales of cosmetics, particularly […]
Luxury Sector Faces More Gloom as Bain Cuts Sales Forecast
Luxury Sector Faces More Gloom as Bain Cuts Sales Forecast The luxury sector, known for its resilience in the face of economic downturns, is now experiencing a significant blow as consultancy Bain & Co slashes its sales forecast for the year. The renowned consultancy has predicted a global decline in luxury goods sales ranging from […]
Ferragamo’s Revenues Fell 1% in First Quarter, Dragged by Weak Sales in Asia
Ferragamo’s Revenues Decline by 1% in Q1 Due to Weak Sales in Asia Italian luxury fashion house Salvatore Ferragamo, renowned for its exquisite footwear and accessories, faced a setback in the first quarter of the year as its revenues dipped by 1%. The brand, which is currently navigating the market without a CEO at the […]
Under Armour Turnaround Shows Resilience With Sales Beating Expectations
Under Armour’s Resilience Shines Through as Sales Exceed Expectations Amidst the challenges faced by the sportswear industry during these uncertain times, Under Armour has managed to defy the odds and showcase a remarkable turnaround. The company recently announced that its sales have surpassed expectations, a significant feat considering the current economic climate. Despite projecting a […]
Is This the End of Cheap Stuff in America?
Is This the End of Cheap Stuff in America? In a world where fast fashion has dominated the retail landscape for years, the recent plummet in US sales of popular brands like Shein and Temu has sparked a debate about the future of cheap goods in America. While some may view this shift as a […]