Luxury brands in China are reportedly resorting to “unprecedented” discounts to sell unsold inventory and entice cautious Chinese consumers. The price cuts reflect growing concerns over a slowdown in spending among local shoppers, Bloomberg reported Friday (June 14). Balenciaga, a part of French luxury conglomerate...
Global luxury group Kering ran into headwinds during the fourth quarter. The group recorded a year-over-year decline in sales of 7% on a comparable basis during the quarter ended Dec. 31. Gucci, which accounts for half its revenue, was down 14%. Yves Saint Laurent was...
Researchers at Spain’s Universitat Politècnica de Catalunya recently published a study showing that reusing 1kg of clothing could save 25 kg of carbon dioxide emissions. Scaling these findings up and it’s clear that extending the life of garments could dramatically reduce the environmental impact of...
If you can’t beat ‘em, join ‘em. That’s the retail response that a growing list of luxury apparel brands and designers are taking as a surge of resale or reCommerce initiatives gets underway at an important but challenging time for the industry. In the past...
June 14, 2024
Luxury brands in China are reportedly resorting to “unprecedented” discounts to sell unsold inventory and entice cautious Chinese consumers. The price cuts reflect growing concerns over a slowdown in spending among local shoppers, Bloomberg reported Friday (June 14). Balenciaga, a part of French luxury conglomerate Kering, has been offering discounts of up to 40% on […]
February 15, 2023
Global luxury group Kering ran into headwinds during the fourth quarter. The group recorded a year-over-year decline in sales of 7% on a comparable basis during the quarter ended Dec....
May 23, 2022
U.S. Rep. Madison Cawthorn, who recently lost his primary to represent western North Carolina again, is now under investigation for crypto-related matter, a press release from the U.S. House Committee...
March 25, 2022
If there was any question that fashion is leading the charge into the metaverse, the 70-plus brands participating in Decentraland’s Metaverse Fashion Week should put them to rest. And if...
