luxury sector news and archive

Oil at 200 dollars a barrel: Middle East conflict sends shockwaves through fashion

As the global conflict involving Iran escalates, the prospect of oil prices climbing towards 200 dollars a barrel no longer feels implausible. Fashion businesses across the UK and Europe are once again bracing for volatility, as energy markets react sharply to geopolitical risk. From fibre production and manufacturing to freight costs and...

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Business

Prada results underscore weaker luxury demand

Miu Miu is having a moment. The brand claimed the number one spot on Lyst’s Q2 Hottest Brands Index, with Prada landing just a few places behind in fourth. But while the buzz is real, fuelled by clever styling, viral looks, and a steady stream of celebrity endorsements, it only tells part of the story. Scratch beneath the surface, and Prada...

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Business

Chanel charts a new course amid luxury sector slowdown

Chanel, long seen as a bellwether of the global luxury market, reported a 4.5 per cent decline in sales for 2024, falling to 18.7bn dollars, as economic pressures and shifting consumer behaviour weighed on the industry. Operating profit fell more sharply, down 28.2 per cent to 4.5bn dollars, according to results released on Tuesday. The downturn...

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Fashion |Opinion

Is it time for a change at Kering’s helm?

The litany of underwhelming results from Kering, most recently another sharp downturn at Gucci, has provoked a rare public debate over the stewardship of the group's chief, François-Henri Pinault. As industry commentator Astrid Wendlandt observed in Miss Tweed, Pinault’s steadfast loyalty to the empire his father built may now be an obstacle to...

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Management

British luxury sector has grown 49 percent in four years

Walpole, the trade body for the British luxury sector that counts more than 250 brands including Alexander McQueen, Harrods and Burberry as members, has stated that the sales across the British luxury sector has grown by 49 percent in the four years from 2013 to 2017. According to Walpole’s new research the British luxury sector is now worth 48...

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Business

British luxury sector has grown 49 percent in four years

Walpole, the trade body for the British luxury sector that counts more than 250 brands including Alexander McQueen, Harrods and Burberry as members, has stated that the sales across the British luxury sector has grown by 49 percent in the four years from 2013 to 2017. According to Walpole’s new research the British luxury sector is now worth 48...

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Retail|UPDATE

Louis Vuitton struck by China's luxury dip and shutters stores

Louis Vuitton has "strongly denied" reports that it is set to shutter up ot a fifth of its retail network in China. "As announced by LVMH Group many times, Louis Vuitton’s retail strategy in China is to optimize the quality of its store network," said the fashion house in a statement to WWD. "Our aim is to offer the best service and experience...

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