Luxury news and archive

Europe's luxury stocks took a 25 billion dollar hit

Luxury-goods stocks in Europe plummeted this week, losing over 25 billion dollars in market value, reported Bloomberg, primarily due to concerns raised by Richemont Chairman Johann Rupert about inflation impacting regional demand. LVMH, formerly Europe's largest company, saw a 3.6 percent drop in its stock price, reducing its market...

Fashion

The Handbag Clinic launches in Harrods

UK-based luxury handbag restoration and preowned designer resale retailer The Handbag Clinic has opened an in-store concession in luxury department store Harrods. Located on the fifth floor within the ‘Shoe Heaven’ department, The Handbag Clinic’s concession aims to elevate the post-purchase experience by offering consumers an aftercare...

Business

Rolex SA to acquire luxury watch group Bucherer AG

In a strategic move, Rolex has announced it will acquire Bucherer, the well-known watch retailer. Despite the acquisition, Bucherer will maintain its unique identity and operational independence. The integration is awaiting approval from competition authorities. The decision comes after Jörg Bucherer, due to the absence of direct heirs, chose to...

Fashion Featured

UK has over one million fake watches in circulation, says report

Recent research conducted by Watchfinder & Co., a luxury pre-owned watch specialist, has shed light on the prevalence of counterfeit goods in the market. The study revealed 14 of Britons have fallen victim to counterfeit products. Specifically, the research identified a staggering 1,010,572 fake watches circulating within the UK market alone....

Business

Sign of the Times acquires Cudoni assets

London-based luxury resale platform Sign of the Times has acquired certain assets of Cudoni, which collapsed into administration in April, citing the rising cost of living and economic crisis in the UK. In a statement, Sign of the Times said the acquisition would reinforce itself as one of the largest luxury resellers in the UK by increasing its...

Business |Interview Featured

Behind Von Dutch’s surprising return to the luxury market

A powerful fashion brand of the 2000s, Von Dutch (Royer Group) made a strong comeback with the 2020 launch of Von Dutch Paris, a clothing and accessories line that is about to gain visibility in the French market. "The idea of doing Von Dutch Paris actually goes back to 2017," Earl Pickens, Von Dutch creative director, confided by phone. “We...

Business

Is Richemont eyeing luxury shoe brand Gianvito Rossi?

According to various Italian news outlets, Swiss luxury group Richemont has made a 100 million euro offer for Gianvito Rossi, an Italian luxury shoe brand. Richemont has reportedly outbid Diesel parent OTB, which has also expressed interest in making new acquisitions. Richemont, known for its strong hard accessory brands like Cartier and Van...

Fashion

Brits continue to spend on small luxuries, despite increase in living costs

Despite the cost of living crisis, new data from Idealo, a comparison site, highlights the 'lipstick effect,' where Brits continue to splurge on small luxuries like cosmetics, clothing, and sweet treats for comfort. According to Idealo's study on UK household spending, Brits are annually spending 6.4 billion pounds on cosmetics. However,...

Business

LVMH buys Louis Vuitton Champs-Élysées flagship store

Louis Vuitton owner LVMH has made a significant move in the real estate sector with the purchase of Louis Vuitton's flagship store in Paris. The seven-story building, located at 101 avenue des Champs-Élysées, has been acquired from real estate company Gecina for a reported price range of 770 million to 900 million dollars reported Pambianco. The...

Business

China's luxury fashion and beauty on the road to post-pandemic growth

Chinese luxury fashion and beauty sales are expected to surpass pre-pandemic levels, reaching 131 billion dollars by 2027, according to a report by BoF Insights, a think-tank at the Business of Fashion (BoF). Two-thirds of luxury purchases will occur in mainland China by 2027, with Chinese shoppers budgeting at least 1,000 dollars for luxury...

Business

Kering's acquisition of Creed is reportedly valued at 3.5 billion euros

Kering, the French luxury goods conglomerate, last month announced its surprise acquisition of the prestigious fragrance house Creed, in a transaction valued at 3.5 billion euros, according to a report in the Financial Times. Although the exact financial terms of the deal were not disclosed initially, nor confirmed, this valuation sheds light on...

Business

Omega watches to see price increases

Omega, the renowned Swiss watchmaker, is preparing for another round of price hikes following a previous increase earlier this year. Swatch Group AG, the owner of Omega, has been closely monitoring the luxury market, where entry-level Rolex prices have skyrocketed, often reaching twice the cost of an Omega timepiece. Omega contributes around 60...