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...
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...
For Mytheresa CEO Michael Kliger, there was no doubt about his company’s performance during the fourth quarter and fiscal year. “We clearly see ourselves as a winner in the consolidated luxury space,” he told analysts and investors during the company’s fourth-quarter and full-year earnings call on...
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 […]
August 28, 2024
Italist is tapping into the growing American enthusiasm for Italian luxury fashion with a strategic approach that blends seasonal discounts and curated selections. By expanding into the U.S. market, italist...
November 30, 2023
After a year filled with surprising developments, Farfetch appears to be continuing its trend of unexpected moves. The online luxury retailer revealed this week that it will not be disclosing...
November 20, 2023
The COVID-19 pandemic drastically reshaped the landscape of weddings, giving rise to the trend of micro weddings. These smaller-scale celebrations, with trimmed guest lists and downsized ceremonies, were the choice...
October 28, 2024
The RealReal has appointed President and Chief Operating Officer Rati Sahi Levesque as president and CEO and as a member of the board. Levesque succeeds John Koryl, who has left the company and is no longer on the board, the online marketplace for resale luxury goods said in a Monday (Oct. 28) press release. A […]
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...
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 05, 2024
Amid a merger worth $2.6 billion, Saks reportedly owes vendors hundreds of thousands. The luxury retailer, which last month announced it was merging with Neiman Marcus, has missed payments to dozens of the brands it works with,...
