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Vestiaire Collective co-founder Sophie Hersan: Gen Z enters luxury consumerism with secondhand

The second hand market is booming and, especially with the current price increases, offers a cheaper and more cycle-oriented alternative for consumers. But it can also offer more than that, says Sophie Hersan, the co-founder of resale platform Vestiaire Collective. In the age of the internet, filled with fashion drops and the hype of...

Dec 2, 2022

People

Sidney Toledano appointed head of France's Chambre Syndicale de la Haute Couture

Sidney Toledano has been appointed the new head of the Chambre Syndicale de la Haute Couture. Mr Toledano succeeds Ralph Toledano, who is no relation, and who held the position alongside the presidency of France’s fashion chamber, FHCM, since 2015. Sidney Toledano will remain Chairman and CEO of LVMH Fashion Group, as well as Chairman of the...

Nov 28, 2022

BusinessFeatured

Luxury as a currency: how the luxury resale market has evolved as an investment vehicle

Despite currently bleak economic prospects, the resale market is only on the rise, with a slew of recent reports finding that consumers are showing a tendency towards secondhand and pre-loved purchases in light of rising costs and tightened budgets. A similar attitude was adopted by that of The Business of Fashion (BoF), which partnered with...

Nov 17, 2022

Retail

Galeries Lafayette will open two stores in India

Galeries Lafayette announced on Thursday the confirmation of a partnership with the Indian group Aditya Birla to develop its presence in India, where the French group plans to open two stores in 2024 and 2025. In order to "pursue [its] international deployment strategy", the Galeries Lafayette have entered into an "exclusive partnership" with...

Nov 17, 2022

Business

Is Europe the best place to buy luxury goods?

The strong dollar has meant Europe is the best place to buy luxury goods, as equal pricing strategies in global markets has proven not to work after the pandemic, along with current currency fluctuations. In Milan and Paris, two of Europe’s capitals for fashion and luxury goods, American tourists are spending 80 percent more when compared to the...

Nov 16, 2022

BusinessFeatured

Luxury goods market ‘leaps forward’ in spite of economic turbulence, new report says

A new report by Bain & Company has said that the global luxury market took a “further leap forward” during 2022, despite uncertain economic conditions. In the 21st edition of its ‘Luxury Study’, which was carried out alongside Italian luxury goods’ manufacturer Altagamma, the consulting agency suggested that the sector “remains poised” to see...

Nov 15, 2022

Retail

Dolce & Gabbana opens experiential festive pop-up in Covent Garden

Luxury house Dolce & Gabbana has unveiled an exclusive pop-up in London’s Covent Garden, in keeping with the estate’s wide-ranging festive experiences. The Italian brand is hosting a special ‘Holiday Market’ in the area that incorporates its Sicilian roots into the design through the use of colour and typical folklore symbols. Running until...

Nov 11, 2022

Fashion

Despite global recession, shoppers care about a product's environmental credentials

At the annual climate change conference, COP27 began with a dire message from the United Nations Secretary General, Antonio Guterres: “We are on a highway to climate hell with our foot on the accelerator.” While the fashion industry scrambles to reconcile its greenwashing of unattainable pledges to achieve net zero emissions by 2025 or even 2030...

Nov 9, 2022

Fashion Featured

Vestiaire Collective reveals how it identifies counterfeits

Counterfeiting has infiltrated many channels in the luxury sector, including on re-sale platforms. The wide availability of fake goods has forced brands to tackle issues of transparency, with luxury pre-owned retailer Vestiaire Collective this year publishing its first Trust Report 2022. The report gives insight into the company’s 13 years of...

Nov 9, 2022

Business |Interview Featured

Alibaba’s Mei Chen on how Tmall is helping luxury brands digitally transform for the Chinese consumer

Five years on from its launch, Alibaba’s Tmall Luxury Pavillion has positioned itself as a “one-stop shop” for China’s consumer, and as the segment continues to grow in the region, its impact on the global luxury industry is starting to spill out into wider markets. The high-end e-commerce platform initially launched in 2017, just as Chinese...

Nov 7, 2022

RetailFeatured

Europe's e-commerce set to soar, with fashion a top category

The European B2C market is expected to grow by 14.96 per year, and forecast to reach 1,010 billion dollars by the end of this year. New data from Research and Markets says online commerce in Europe is an attractive growth story, expected to be worth 1,565 billion dollars by 2026. The pandemic accelerated online shopping across categories, with...

Oct 30, 2022

Fashion

Bottega Veneta to offer lifetime guarantee service on its handbags

Luxury handbags are investment pieces, yet despite their desirability and high price points, they are also privy to normal wear and tear, despite being high-end products. Italian luxury house Bottega Veneta is hoping its new lifetime warranty assurance is proof its bags are produced to last. From November a new service called “Certificate of...

Oct 28, 2022