The luxury goods market is witnessing a notable trend toward strategic partnerships. Rather than retreating in the face of challenges, industry players are doubling down on collaboration to fortify their positions. This week, Mytheresa announced its acquisition of YNAP from Richemont, with the goal of...
Cartier owner Richemont is selling its luxury eCommerce platform Yoox Net-a-Porter to online retailer Mytheresa. The $608 million deal, announced Monday (Oct. 7), ends a monthslong search by Richemont for a new owner for Yoox Net-a-Porter (YNAP). “Mytheresa and YNAP have each earned a strong...
Give someone a diamond, they have a diamond; give someone a machine that makes diamonds, they have diamonds for a lifetime. There is an old Jewish parable about an island where diamonds are so plentiful that they are worthless. Reality is beginning to look a...
The planned acquisition of Neiman Marcus Group (NMG) by HBC, the parent company of Saks Fifth Avenue, is one step nearer to closing. The waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976 (HSR Act) in connection with the transaction has expired, the luxury retail companies said in...
October 11, 2024
The luxury goods market is witnessing a notable trend toward strategic partnerships. Rather than retreating in the face of challenges, industry players are doubling down on collaboration to fortify their positions. This week, Mytheresa announced its acquisition of YNAP from Richemont, with the goal of creating a leading global digital luxury group. This move will […]
July 24, 2024
As consumers cut back on many premium products in the face of ongoing economic challenges, luxury chocolate brand MarieBelle New York is benefitting from shoppers’ desire to enjoy high-end experiences...
June 28, 2024
With consumers increasingly expecting to be able to get anything they want, when they want it, bridal retail is picking up the pace, according to Kleinfeld Bridal, the wedding retailer...
May 17, 2024
Amazon and Walmart may be setting their sights on high-income consumers, but as the two retail giants compete for shoppers’ spending, they are working hard not to lose their lower-income...
October 15, 2024
LVMH saw quarterly sales dip amid an “uncertain economic and geopolitical environment.” The luxury retail giant reported third-quarter earnings that showed a 3% drop in revenues — to 19.1 billion euros — while sales in its core fashion and leather goods units — which includes brands like Dior and Louis Vuitton — dropped 5%. Both […]
October 07, 2024
Cartier owner Richemont is selling its luxury eCommerce platform Yoox Net-a-Porter to online retailer Mytheresa. The $608 million deal, announced Monday (Oct. 7), ends a monthslong search by Richemont for...
August 21, 2024
The planned acquisition of Neiman Marcus Group (NMG) by HBC, the parent company of Saks Fifth Avenue, is one step nearer to closing. The waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976...
August 12, 2024
Axis Bank has partnered with Visa to launch an “ultra-premium” credit card in India. The new card, Primus, will be offered by invitation only and will cater to select, ultra-high-net-worth individuals...
