Following a challenging year, Deloitte’s latest Global Powers of Luxury Goods report shows that the revenues generated by the world’s top 100 luxury companies dropped from $281 billion in 2019 to $252 billion in 2020.
According to a new report from McKinsey, exploring the rapidly growing resale market not only opens a new revenue stream for luxury labels but could also have a positive effect on brand loyalty and desirability.
Luxury goods companies Hermes and Richemont won promotion on Wednesday to the blue-chip Euro STOXX 50 equity index, which could increase investment funds' demand for the stocks that have hit all-time highs.
Fashion’s love of the late Alber Elbaz never seems to fade. Paris's Palais Galliera on Thursday announced that next spring it will stage an exhibition themed on the final tribute show presented in his honor.
Richemont is moving its enterprise IT infrastructure to Amazon Web Services in a deal to drive more dynamic e-tail experiences, more personalisation, better supply chain management and many other benefits.
Shares of Farfetch Ltd plunged 22% on Friday and were set to post their biggest percentage drop in more than two years after the retailer cut a key growth forecast, blaming cooling demand for high-end fashion.