After taking a plunge last week following the announcement of China’s wealth redistribution plan, share prices for the leading luxury groups made up some ground earlier this week, though uncertainty lingers.
Leave it to Tommy Hilfiger to launch a path-breaking new collab’ collection with happening young talent Romeo Hunte when most of the industry is on vacation in the Hamptons or partying in the Med. It debuts on August 12.
Italian fashion group Prada sees sales rising further in the second half of the year after revenues beat market expectations in the first six months, extending a recovery from the worst of the Covid-19 crisis.
UK consumers are continuing to search for fake luxury brands in large numbers and some have more appeal to label-hungry shoppers than others. In fact, Rolex is the most wanted label for those seeking fakes online.
Covid has forced the Italian luxury industry to step up the pace of its transformation and search for investors, as shown by Zegna announcing a forthcoming stock market listing, and L Catterton’s acquisition of Etro.
Gucci has been named as the hottest brand in fashion for the fourth consecutive quarter by Lyst, with the return of dressier options and styles for travel and leisure also being identified as key quarterly trends.