During periods of economic uncertainty, logic posits that spending, especially on non-essential/discretionary goods, would drop. In the last year, however, unprecedented revenue from luxury brands has thrown this logic on its head, causing everyone to question what is behind the increased desire …
Tag Archive for Business
Dolce&Gabbana brings its Beauty Business Home
In April 2021, Dolce&Gabbana partially ended its licensing deal with Shiseido as part of the latter’s attempt to cut costs due to the Covid-19 pandemic. By December of the same year, the deal came to a final halt, leading the Italian luxury fashion house to now announce that it is bringing it…
Chanel is Angling to be the Hermès of the Future for Handbag Enthusiasts
This is the year of Chanel, one that has seen it announce significant price increases in relation to its handbags and enforce a restriction policy while still retaining value. Again, for the fourth time this year, it has announced another price hike, in what experts have called a smart move to pl…
Unlocking a New Era of Regional Businesses through the CBN 100 for 100 PPP Loan
In November this year, Nigeria’s apex bank released the guidelines for its ‘100 for 100 Policy on Production and Productivity’ (PPP) loan, which it conceived to boost “production and productivity, necessary to transform and catalyse the productive base of the economy [and] reverse the nation’s ov…
Chanel learns a Lesson in Value over its Advent Calendar Backlash
In the last couple of days, Chanel has been embroiled in a PR nightmare over its first-ever Advent calendar, after a Tik Tok user, Elise Harmon, called out the brand over what she more or less felt was a disappointment and a possible waste of $825 which is what the Advent calendar was worth. In […
Why Africa Has a Higher Percentage of UHNWIs with Private Jets
It is no news that High Networth Individuals (HNWIs) and Ultra-High Networth Individuals(UHNWIs) are private jet owners and fly private whether for business or leisure. In fact, in the last year, reports have revealed that more people –in Africa and elsewhere – from the HNI category and those asp…
Do You Want to Buy a New Rolex? It May Prove Harder Than Expected
Getting your hands on a new Rolex at the moment is like looking for the proverbial needle in the midst of the haystack. While there may have briefly been a supply chain disruption for watchmakers at the peak of the coronavirus pandemic, Adam Golden of MentaWatches says that the issues in the past…
Trend Alert! New Ways of Working in Africa
Human capital advisory firm, Africa People Advisory Group, has released the findings from a recent Pan-African study into “New Ways of Working”. The goal of the study was to understand organisational responses to the impacts of COVID-19 whilst at the same time recognising how organisations are re…
LVMH Buys Off-White as Virgil Abloh Takes up Bigger Roles
LVMH has announced its latest buy: purchase of a majority stake in Off-White, the luxury streetwear brand founded by Louis Vuitton’s current menswear creative director, Virgil Abloh, in 2013. Just to be clear, the purchase does not include the operational side of the brand which will still be han…
For Luxury Goods, Packaging is Just as Important as Pricing
If you’ve ever received the Hermès orange or the Tiffany blue box, chances are that you were as excited to see the box as you were to unwrap and reveal what it concealed. Even more certain is the fact that, somewhere in your closet or on a storage shelf in your home, the box sits […]
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