Like every other industry, the luxury profession has been hit heavily by the Coronavirus. But, just like other brands, luxury businesses have quickly realised that exploring new alternatives is the quickest path to survival now and even post-COVID-19. Q1 reports are out, and the results show a si…
Tag Archive for kering
LVMH Makes Acquisition Bid for Tiffany & Co. Currently Valued US$12 billion
According to Bloomberg reports, LVMH is in talks to buy Tiffany & Co. Given the high-end jewellery sector’s relative resilience to downturns comparative to high-end watchmaking prompting even Kering Group’s Gucci to open a jewellery boutique on Place Vendome, the takeover bid by the owner of …
ASPIRE Pick of the Week: Kering Group Bans Hiring Models Under 18
A lot of limelight has been shone on the exploitation of young boys and girls in the fashion industry. Frankly, it could simply be peer pressure, but the impact is often too intense for these adolescent few. In a revolutionary step taken by French luxury group Kering, models under 18 have been ba…
Luxury Companies Are Consolidating but Still Offering Diversity
According to a new report from Baker McKenzie, Michael Kors’ Versace takeover, Richemont’s move for complete Yoox Net-A-Porter Group control and LVMH’s Belmond buy show that luxury brands are diversifying their holdings into new markets and territories. As consumers’ interests continue to grow, t…
Wechat’s Stories Feature Holds Potential for Luxury Brands
WeChat, the popular Chinese social media platform, is following in the footsteps of Snapchat and Instagram with the launch of its own “stories” feature, giving luxury brands the opportunity to share ephemeral content on the popular application. Named “Time Capsules,” the feature allows WeChatR…
Luxury Brands Shake Off Old-Fashioned Airs To Attract Younger Consumers
A long time ago, aspiration, grandeur, exclusivity and perfection were the defining markers of luxury. Yet as a notoriously passionate and outspoken generation comes of age, luxury is witnessing a definitive shift, with power moving from brands to consumers, who are in favour of democratising lux…
Boucheron Restores 18th Century Mansion, Place Vendome
A gleaming necklace in Boucheron’s shop window in Paris’s Place Vendome features dozens of lifelike hydrangea blossoms made from mother-of-pearl and diamonds, framing a 43-carat pink tourmaline. Shoppers who enter the restored 18th-century mansion, which reopened recently after a sweeping restora…
Luxury Brands Burn Their Own Goods?
Every winter the Tuscan workshops of Stefano Ricci, a high-end menswear label, box up the year’s unsold products—from cashmere suits and silk ties to finely woven cotton shirts—and send them off on trucks to be burned. Then Stefano Ricci’s accountants get to work claiming a tax credit for the ope…
A Look at the Risky Business Inside Major Luxury Groups.
As we approach the summer holidays, we can take a breath, stop and analyze what will become the talk of the season in September. The most important luxury groups are all harvesting steady or stellar revenues growth and worldwide appreciation. They are cashing in– but all that glitters is no…