With the high cost of maintaining a luxury brand, key players are making major decisions, changing the way they operate to navigate the current challenging economic climate. Luxury brand Burberry, for instance, is gearing up to cut hundreds of jobs amid ongoing financial challenges, per...
Are the world’s wealthy falling out of love with luxury goods? An opinion piece published Thursday (July 4) in the Financial Times argues that the rich — and even many people in the “aspirational middle class” — are rethinking things like high-end handbags and expensive sports cars....
Luxury firms Chanel and LVMH are reportedly competing to become the new owner of a building on Manhattan’s Fifth Avenue. Both companies have been in talks to buy the location on the luxury shopping corridor, Bloomberg reported Monday (April 8). Global luxury retailers have been competing to buy buildings on Fifth...
As luxury brands increasingly find ways to create direct relationships with their customers, high-end department store chains are facing new challenges. Ralph Lauren, for its part, reported Thursday (Feb. 8) that it saw global direct-to-consumer (D2C) comparable store sales rise 9% in the third quarter...
February 12, 2024
As luxury brands increasingly find ways to create direct relationships with their customers, high-end department store chains are facing new challenges. Ralph Lauren, for its part, reported Thursday (Feb. 8) that it saw global direct-to-consumer (D2C) comparable store sales rise 9% in the third quarter of fiscal year 2024, gaining 1.7 million new D2C customers. […]
August 22, 2018
“Fashion is the armor to survive the reality of everyday life,” said fashion photographer Bill Cunningham. No one wears just one suit of armor, and no one shops in just...
August 26, 2024
Chanel has reportedly launched a watch that is worn as a necklace and includes integrated wired headphones, a microphone and remote control. When connected to the user’s smartphone, the Première Sound enables taking calls, listening to music and controlling audio and video playback, Jing Daily reported Sunday (Aug. 25). The introduction of this watch is part […]
July 04, 2024
Are the world’s wealthy falling out of love with luxury goods? An opinion piece published Thursday (July 4) in the Financial Times argues that the rich — and even many people in...
April 08, 2024
Luxury firms Chanel and LVMH are reportedly competing to become the new owner of a building on Manhattan’s Fifth Avenue. Both companies have been in talks to buy the location on the luxury shopping...
May 25, 2023
Chanel has reportedly seen a slowdown in the United States. The privately-held luxury brand’s sales growth in the U.S. has dipped from about 10% in 2022 to “in the single digits” this year,...
