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 […]
The Debrief | TikTok, Tariffs and Luxury’s Fake News Problem
The Debrief | TikTok, Tariffs and Luxury’s Fake News Problem In the age of social media, misinformation can spread like wildfire, shaping consumer perceptions and challenging established norms. Recently, a wave of TikTok videos has fueled a concerning narrative: that luxury bags and their counterfeits are made in the same factories. This revelation has stirred […]
LVMH Sales to Test Luxury Investors’ Nerves After Tariff Pain
LVMH Sales to Test Luxury Investors’ Nerves After Tariff Pain The luxury industry is facing a challenging time as the impact of tariffs continues to ripple through the market. This turmoil is evident in the luxury stocks index compiled by Goldman Sachs Group Inc., which has seen a significant drop of over $200 billion from […]
Daniel Lalonde Named CEO of Fiskars Group’s Vita Division
Daniel Lalonde Named CEO of Fiskars Group’s Vita Division The world of luxury home and design brands is abuzz with the recent appointment of Daniel Lalonde as the CEO of Vita, a division of Fiskars Group. Lalonde, who recently made headlines with his exit from Flos B&B Italia in January, brings a wealth of experience […]
LVMH and Stella McCartney Brand Part Ways
LVMH and Stella McCartney Brand Part Ways In a recent strategic move, Stella McCartney is set to buy back the minority stake in her eponymous label previously held by luxury conglomerate LVMH. Despite the separation, McCartney will maintain her advisory role within the group, focusing on sustainability initiatives. This decision marks a significant shift in […]
Chanel Cuts 70 US Jobs Warning of Challenging Luxury Environment
Chanel Cuts 70 US Jobs Warning of Challenging Luxury Environment Luxury fashion house Chanel is making tough decisions in response to the ever-changing economic landscape. The French maison has announced plans to cut 70 jobs in the United States, which accounts for approximately 2.5 percent of its workforce. This move comes as the renowned luxury […]
Fosun’s Jewellery Unit Shanghai Yuyuan Considers Second Listing in Hong Kong
Fosun’s Jewellery Unit Shanghai Yuyuan Considers Second Listing in Hong Kong The renowned jewellery unit of Fosun Group, Shanghai Yuyuan, is contemplating a second listing in Hong Kong. This strategic move comes as the Shanghai-listed company, which shares an owner with Lanvin Group, aims to potentially raise over $300 million through this offering, according to […]
Why Fashion Needs the Art World More Than Ever
Why Fashion Needs the Art World More Than Ever Art Basel Miami Beach has solidified its position as a cultural tentpole, drawing America’s wealthiest individuals and an increasingly diverse art customer base. This convergence of art and affluence is not just a display of aesthetic appreciation; it signifies a significant opportunity for the fashion industry […]