Luxury Goods news and archive

eBay launches new mobile consignment service the "Lux Line"

Online marketplace eBay is launching a new mobile consignment concierge under the name "the Lux Line." Set to offer shoppers the same selling experience as the online marketplace, the new Lux Line will run out of a branded bus that will travel to several locations on the West Coast in the US. Shoppers will be able to visit the Lux Line and...

Retail |In Pictures

Swaine opens flagship on New Bond Street

Swaine, one of the UK’s oldest luxury goods brand, has opened a new flagship on New Bond Street in London as part of its most radical rebrand in 273 years. A fixture of London’s luxury goods landscape since 1750, Swaine’s new flagship at 126-127 New Bond Street marks the largest store in the brand’s history at 7,000 square feet and will...

Retail

Luxury shoppers seize the day amid Turkey’s sliding currency

One country’s woes are a luxury shopper’s gain. As Turkey fights for its sliding lira, international luxury shoppers are taking advantage of its attractive prices for designer goods. Queues outside Chanel and Louis Vuitton this week saw Chinese, Middle Eastern and a plethora of nationalities hoping to score a designer bag at near bargain prices,...

Fashion |TIMELINE Featured

Richemont: outshining luxury goods giants

Compagnie Financière Richemont SA is a Switzerland-based luxury goods holding company founded in 1988 by South African businessman Johann Rupert. The luxury goods groups sells premium jewellery, watches, leather goods, writing instruments, clothing and accessories. Richemont is publicly traded as CFR on the SIX Swiss Exchange and the JSE...

Management

Brexit propels 48 percent dip in global luxury market

London - After being stuck by the immediate aftermath of the EU referendum last month, luxury fashion retailers were among the worst hit sectors. Now, ten days after news of the Brexit broke, it looks as if luxury brands may have to brace themselves for further impact, as they get a taste of what things may feel like post-Brexit. Louis Vuitton:...

Fashion Featured

Sluggish European markets changing the face of American fashion

By now it is no secret that the European luxury goods market is struggling. With brands like Hugo Boss, Hermès, and Prada reporting losses due to the less than stellar financial situation in the EU and volatile currency exchanges things are pretty tough right now. Let’s not forget the cherry on top of the designer cake, the political climate in...

Apparel

Vatican home to luxury store

Men of the cloth may devote their lives to God, but that doesn't mean they can't be fashionable doing so. The Vatican City is home to many treasures, including a department store offering luxury goods to prelates and their staff. In fact, the duty free shop is only open to the Vatican's 594 residents, who have the luxury of buying anything from...

Fashion

Asia to account for half of luxury goods market

A new study has indicated Asia will take over 50 percent of the luxury market in the next ten years. As Asian household incomes grow and local economies expand, the region will account of 50 to 60 percent of the world's luxury brand turnover, according to Economist Intelligence Unit (EIU). The region, which currently accounts for around...

Fashion

Chinese favour French luxury brands

A new study released by The Hurun Research Institute titled Chinese Luxury Consumer Survey 2013 provides insight into the brand preferences of China’s wealthy consumers. French luxury goods remain highly sought-after and brands such as Louis Vuitton, Chanel, and Dior were among the Top 10 preferred designers for both men and women. Leather...

Fashion

London a hotbed for tourist shoppers

The European austerity measures may have Londoners staying at home, but international shoppers and tourists are spending like never before, buying British and European luxury goods. Consumers from China and South East Asia see London as a key destination for buying luxury products, with non-European tourist spending up 34% over last year. “These...

Apparel

Record sales of luxury goods in 2012

Despite the current economic downturn there appears to be no end to the growth of luxury goods. The sector is expected to gain between 6 and 7 percent this year to over 200 billion euros, according to a study by management consultancy Bain & Co and the Fondazione Altagamma in Milan. Despite signs of market maturation, China is still market...

Fashion

Luxury sector buoyant at LVMH

The luxury goods industry appears headed for a happy Christmas after LVMH, the industry leader in terms of sales and market value, reported higher-than-expected sales in the third quarter of the year. The group saw continued double-digit growth in the fashion and leather goods business – driven by Louis Vuitton – led to a 23.4 per cent increase...