The latest news
Harrods boss says government burying heads in sand over VAT perk for tourists
Harrods MD Michael Ward has said it's time for the government "to wake up and smell the coffee” after a minister said retail needs to provide evidence for its claims about the benefits of VAT-free tourist shopping.
Watches of Switzerland still outperforming, but sees headwinds
A Q4 and end-of-year update for Watches of Switzerland Group has shown that the period to the end of April continued to be strong and that it's entering FY24 "significantly ahead" of its long-range plan.
Mixing old and new, Gucci hosts show in 14th century Seoul palace
With sparkling lights and beating drums, Italian luxury label Gucci took over a 14th century Seoul Palace to showcase its cruise collection, blending Korean heritage and modern fashion.
Affluent and younger shoppers are most eco-focused says ESW
It may not come as a surprise, but research seems to have confirmed that the highest value e-shoppers are the most sustainability-focused in a world of consumers who are generally prioritising eco-awareness more often.
Adeju Thompson of Lagos Space Programme wins Woolmark Prize 2023
Adeju Thompson, founder of Nigeria-based Lagos Space Programme, has won the International Woolmark Prize for 2023, nabbing first place in the oldest and most esteemed fashion award.
Richemont sees progress in strong year as China and fashion brands rebound
Richemont’s full-year results on Friday saw the luxury group reporting sales and operating profit “at an all-time high” as all regions proved profitable and its fashion businesses continued to do well.
Tapestry lifts forecast as Coach bags defy U.S. luxury gloom
Tapestry Inc raised its annual profit forecast on Thursday, betting that price increases, strong demand for its Coach handbags and a sharp rebound in China would shield it from a wider slowdown in U.S. luxury purchases.
New Montblanc campaign has London focus
Montblanc's new campaign stars James Norton, Karen Elson, and Arthur Gosse and spotlights London. It’s the next chapter of a strand that "explores how The Library Spirit transforms through different cities”.
Chinese company earnings reveal lopsided economic recovery
People in China splashed out on dining, travel and luxury goods after emerging from three years of pandemic restrictions but are still not spending freely on routine consumer items.
MyTheresa GMV rises but backdrop is tough, launches link-up with Bucherer
Luxury e-tailer Mytheresa on Wednesday reported close to 18% general merchandise volume (GMV) growth for Q1 and “continued Adjusted EBITDA profitability”.
The RealReal reports GMV uptick of 4%, losses widen
Online luxury resale platform The RealReal announced on Tuesday total revenues for the first quarter fell 3% to $142 million, despite a single-digit uptick in gross merchandise value for the three months ending March 31.
Chanel’s Bruno Pavlovsky on LA, the customer experience, The Met Gala and Karl the provocateur
It felt like Chanel took over Los Angeles this past week, with the staging of its latest cruise collection and the opening of supremely swish and chic new mega boutique on Rodeo Drive.
Matches names ASOS exec Andrea Trocino as its product and tech chief
Matches CEO Nick Beighton has named another senior exec to his team from his former team at ASOS with Andrea Trocino having been appointed Chief Product and Technology Officer.
Goldsmiths to open largest showroom and luxury space at Liverpool One
Luxury watch and jewellery retailer Goldsmiths is significantly increasing its presence at the Grosvenor-operated Liverpool One mall.
Chanel opens largest U.S. store on Rodeo Drive
On Friday, May 5, French luxury house Chanel opened its largest boutique in the United States at 400 North Rodeo Drive; a four-story building created by architect and designer, Peter Marino, with pure elegance.
Revolve first-quarter sales hurt by domestic dip resulting in earnings plummet
Revolve Group Inc. announced on Wednesday revenues for the first quarter dipped 1% to $279.6 million, on the back a dwindling Revolve brand sales, partially offset by an increase in sales at its Fwrd brand.