Luxury news and archive

European luxury: A new report reveals the challenges and growth prospects

European premium and luxury brands represent 5 percent of European GDP, or 986 billion euros. This figure, from a new report by the European Cultural and Creative Industries Alliance (ECCIA), in collaboration with the Comité Colbert and Bain & Company, is up 1 percent compared to 2018. While its evolution demonstrates growth dynamics, the...

People

Walpole names Fortnum & Mason CEO as chair

Luxury trade association Walpole has named Tom Athron as its new chair, a role he will take up from July 1. Athron, who currently serves as chief executive of Fortnum & Mason, will succeed Michael Ward, managing director of Harrods, who is stepping down after finishing the maximum tenure of nine years. Ward will continue on in the newly created...

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LVMH appoints Craftsmanship Chief

LVMH is sharpening its focus on the foundations of luxury, craftsmanship and production, with the appointment of Ludovic Pauchard to a newly created executive role: Industrial and Craftsmanship Director. The move signals a decisive evolution in how the world’s largest luxury group views its industrial backbone amid shifting global market...

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Business

Byredo founder Ben Gorham’s exit marks a familiar pattern in beauty M&A

Ben Gorham, the founder and creative force behind Swedish fragrance label Byredo, is stepping away from the brand nearly two decades after its inception and three years after selling a majority stake to Spanish conglomerate Puig, reported Cosmetics Business. Founded in 2006, Byredo evolved from a niche fragrance label into a full-fledged...

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Business

With a new ad business, has Farfetch found its feet under Coupang?

Farfetch was once the undisputed pioneer of luxury fashion online, a platform that married technological innovation with an insider’s grasp of fashion’s nuanced codes. But following its high-profile acquisition by South Korea’s Coupang at the end of 2023, the company has entered a new chapter, one marked less by editorial curation and more by...

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Global luxury market risks facing its worst turbulence in 15 years

Paris - The global luxury market was expected to slow down in 2025, hampered by the geopolitical context and economic uncertainties, with the risk of experiencing its worst turbulence in 15 years. However, the long-term outlook remained positive, according to a study by consulting firm Bain & Company. Luxury sales, "sensitive to uncertainty, are...

Fairs

Saks Global outlines ‘data-driven’ strategy for menswear at Pitti Uomo

Saks Global has outlined a new “data-driven” strategy for its menswear offering. The luxury retail group, formed of Saks Fifth Avenue and Neiman Marcus, among other department stores, revealed its intention to tap into identified growth opportunities at the ongoing Pitti Uomo 108 in Florence, Italy. Much of this centres around zoning in on...

Business

Saks Global survey shows luxury consumers feeling less optimistic

Luxury consumers in the US are feeling notably less optimistic about the economy, according to the latest Saks Global Luxury Pulse survey, and the intent to spend on luxury “has soften”. The quarterly survey, which analyses luxury consumers’ attitudes towards spending and the economy, found that luxury consumer optimism about the economy...

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Hermès begins work on new leather goods site in northern France

Luxury group Hermès announced that it has started work on its 26th leather goods workshop in Charleville-Mézières, in the Ardennes region of France. This is part of Hermès’ development plan for manufacturing centres across France; the company also announced the creation of leather goods workshops in Colombelles (Normandy), L'Isle d'Espagnac...

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Luxury and AI: Are superhuman customer advisors on the horizon?

With the emergence of chatbot applications driven by artificial intelligence such as ChatGPT or Gemini, web browsing and search habits have evolved considerably. The effectiveness of these tools and the new behaviours they induce have influenced purchases and raised the expectations of luxury brand consumers to a higher level of demand in terms...

Retail

Rebag partners with Amazon to offer pre-owned luxury on a larger scale

Luxury resale platform Rebag has partnered with Luxury Stores at Amazon to offer nearly 30,000 authenticated, pre-owned items—ranging from handbags to watches—through Amazon’s online storefront. Featuring brands like Hermès, Louis Vuitton, and Rolex, the partnership aims to make high-end resale more accessible while promoting sustainable...

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Business

Trump's tariff threat: How European luxury brands are preparing

While Donald Trump had threatened to impose duties of 50 percent on European imports from June 1, the White House eventually decided to extend the tariff pause until July 9. This decision, reported by Reuters on May 26, 2025, reflects an unavoidable reality: trade between the US and the European Union is essential in both directions. In 2024,...