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...
Inflation-pressured consumers tend to cut back on their luxury purchases. At least, that’s what PYMNTS Intelligence data has found. However, the demand for Richemont’s jewelry brands like Cartier and Van Cleef tells a different story, with the company experiencing a bump during the most recent...
There was a time last year when we heard luxury retailers say that the slowdown they were experiencing was a sign of “normalization,” but now they are warning that profits are continuing down. So, is this truly “normalization” or just inflation at its finest? Read...
Private equity firm SKKY Partners has added former Apple Retail executive Angela Ahrendts as senior operating adviser. Ahrendts will work with SKKY Partners founders Kim Kardashian and Jay Sammons and the team to identify and evaluate prospective investment opportunities, serve as a resource for the companies in which SKKY invests, and...
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 […]
August 07, 2023
Private equity firm SKKY Partners has added former Apple Retail executive Angela Ahrendts as senior operating adviser. Ahrendts will work with SKKY Partners founders Kim Kardashian and Jay Sammons and the team to identify and evaluate...
January 18, 2023
After a COVID-inspired sales drop, luxury brands Burberry and Richemont see hope in China’s reopening. The country last week lifted some of its pandemic restrictions, offering a balm to retailers...
September 30, 2022
United Kingdom-based Burberry is reportedly facing the challenges of being a luxury brand whose image is not as upmarket as some of its rivals as well as being an independent...