GUCCI appoints new CEO
GUCCI has appointed Stefano Cantino as new CEO, succeeding Jean-François Palus. Cantino climbed the ranks at Prada over the course of two decades, working closely with executive chairman…
Category: Insight
Slower growth for luxury in 2024
Flagging a weak macro environment and a wave of recent downgrades, HSBC said Tuesday it now expects only 2.8 percent organic growth for the global luxury goods…
The Ritz-Carlton launches second new-build luxury super-yacht
The Ritz-Carlton Yacht Collection proudly introduces Ilma, its second new-build luxury superyacht, to its distinguished fleet. The yacht embarked on its maiden voyage, a 7-night journey from Monte…
Rolex CEO warns of challenges in the future
Smaller watchmaking businesses may suffer a 15% drop in sales this year but still end up larger than before the post-pandemic boom, the chief executive…
De Beers is for sale
Anglo American is exploring an initial public offering of its diamond business De Beers, two people familiar with the matter told Reuters on Tuesday, with London the…
Richemont Group acquires privately owned Italian jeweler Vhernier
Swiss luxury giant Richemont announced on Tuesday that it has reached an agreement to acquire 100% of Vhernier S.p.A., the Italian jewellery house, in a private transaction. Forty-year-old Vhernier…
Ralph Lauren considers venturing into luxury hotels
In a recent interview, Ralph Lauren said (about starting a luxury hotel): “It’s another business, it’s another world. Picking locations and what you want to…
Luxury brands prices increase alienates aspirational consumers
In the past years major luxury brands have been increasing prices focusing on the highest end of the market spectrum and targeting the most affluent…
Audemars Piguet opens new house in Milan designed by Piero Lissoni
Manufacture Audemars Piguet is pleased to announce the inauguration of its new AP House in via Bagutta, in one of the most prestigious neighborhoods of…
Farfetch to lay off a third of staff in 2024
Amid an ongoing upheaval of its management team, luxury e-tailer Farfetch is now also reportedly set to lay off between 25 and 30 percent of…
Swiss watch exports massively soaring
For the third consecutive year, watch exports experienced strong growth in 2023, exceeding the 26 billion francs mark for the first time. But a few…
China’s luxury market expected to grow 4 to 6 percent in 2024
The fact that China’s economy may now be weakened but its domestic luxury market is almost double the size it was in 2019, with growth…
Luxury brands and retailers expect more turbulence in 2024
With wars grinding in Ukraine and the Middle East, and a record number of countries holding elections in 2024, consumers are, understandably anxious, and more…
High end hospitality hit hard by the wars in Israel and Ukraine
According to a research by CPP, the ongoing war in Ukraine and the war in Israel will have a major inhibiting effect for the ‘traditional’ source…
Les ventes de LVMH ralentissent aux États-Unis alors que la Chine rebondit
Les ventes de LVMH aux États-Unis ont diminué au deuxième trimestre, la morosité de l’économie ayant dissuadé certains acheteurs d’acheter vêtements et sacs à main…