Amid the pandemic, it appears that 1 in 5 American households chose to add a new furry friend to their lives. As the trend of being pet parents continues, the market for pet care products is booming. Notably, the market for fresh and frozen pet...
Luxury fashion brand Hermès has broadened its offerings in the beauty sector, introducing a new line of products that includes mascara, eyeshadow, and makeup brushes. This decision aligns with the goal of catering to the aspirational shopper, who may not have the means to purchase...
The global perfume market is expected to grow to $69.25 billion by 2030. This promising trend has piqued Richemont’s interest, leading the company to invest more in the luxury fragrance sector and establish a beauty division. According to Richemont, the company is significantly increasing its investment...
Etsy, eBay and Craigslist marked the “first generation” of ReCommerce sites — where anybody could sell just about anything to anyone. Etsy, Poshmark and Depop took the concept a bit further, with direct eCommerce conduits to higher-end fashion. As Jelena Zec, director of venture investing...
July 19, 2023
While Richmont has essentially declared that China isn’t buying, prestigious London department store Harrods is preparing to unveil an exclusive club in Shanghai. This step not only marks the luxury retailer’s first venture into international territory but also contradicts the wishy-washy buying patterns observed among Chinese consumers. Just this week, PYMNTS reported, “China, once hailed as […]
March 20, 2024
French luxury house Hermès faces an antitrust lawsuit in California around its Birkin handbags. The suit alleges that Hermès violates antitrust law by “tying” the sale of one item to that of another, as its associates push customers to buy other products to get an opportunity to buy the company’s Birkin handbags, Reuters reported Wednesday […]
February 17, 2023
Hermès is seeing no slowdown in sales of luxury products. The luxury brand said in a Friday (Feb. 17) earnings release that it had a “particularly robust” 2022 in which...
October 20, 2022
Luxury brand Hermes said it plans to raise prices next year, after reporting what it called “very good sales momentum” Thursday (Oct. 20) and continued buying power among affluent consumers...
May 08, 2022
French fashion house Hermes International has persuaded a judge not to throw out its trademark lawsuit against an artist selling “MetaBirkins” non-fungible tokens (NFTs) which show the company’s Birkin bags,...
