Luxury news and archive

HSBC predicts luxury market to slow down in 2019

International bank HSBC forecasts growth in the luxury sector to slow down from 9 percent in 2018 to 6 percent in 2019. But that isn't necessarily bad news. In a report titled Expecting the Unexpected, shared by email with FashionUnited, the bank said the main reason why it believes the sector is likely to slow down is because it has been...

Fashion Featured

Seven trends to shape the luxury industry in 2019

The fashion and luxury industries are evolving at a faster rate than ever before, with key trends set to shape the industry in 2019. Compiled by the Luxury Institute’s global consulting unit Global Luxury Expert Network (GLEN), seven trends have been identified to help brands stay ahead of the competition. Alpha Growth With Gucci as a benchmark,...

Retail

Is Saudi Arabia the next luxury destination?

Saudi Arabia is hoping to attract an influx of luxury shoppers with a new development along its Western coast. Called the Red Sea Project, a new sustainable development across 50 natural islands in a lagoon along 200 kilometres is to be a next generation luxury destination. The project will form an archipelago that is home to environmentally...

Business|INTERVIEW Featured

Training Luxury: Customers buy experiences in physical stores, not products

A new generation of shoppers and workers are walking through the doors of fashion stores. Business strategies from mid-range brands to luxury brands are changing. To understand this change, brands need to leave an open space to create and implement new strategies for success. What are the tools for optimizing staff training? How can brands...

Fashion Featured

New study cracks the code to millennials’ luxury purchasing

Finally—the answers we’ve been looking for. Streetwear blog Highsnobiety figured out how millennial and Gen Z shoppers purchase luxury, and how streetwear has infiltrated the luxury fashion landscape. Forty-five percent of the luxury market’s consumers is set to be made up of millennials and Gen Z by 2020, so it’s time we get some insights. In...

Fashion Featured

Young consumers see luxury as more than a transaction, says report

Niche brands and quality goods that are artistic and unique are capturing the interest of young luxury consumers. In a white paper released by online lifestyle platform Highsnobiety, the publication explores the priorities of the new luxury consumer that its audience reflects. “For us, the message is clear: consumer relationships with brands are...

Video

Video: Unlocking Responsible Luxury

What’s the view on sustainable luxury from the home to some of the world’s most famous luxury brands? I’m talking about Italy of course, and Milan in particular. Source: FSWIR, YouTube.

Fashion Featured

Luxury is less about wealth, more about mindfulness, says report

Luxury is shifting its focus from material wealth to a new appreciation - and appetite - for the experiential. A global report published by Euromonitor says mindfulness is the new luxury, with millennials driving spending on experiences, rather than personal goods. Global luxury performance There is no slowdown in the demand for luxury. Global...

Fashion Featured

Walpole celebrates 17th year of British Luxury Awards

The Walpole British Luxury Awards on Monday saw the best of British honoured at its 17th annual award ceremony held the The Dorchester in London's Mayfair. Fashion winners including Manolo Blahnik, Mulberry, Royal Ballet x Erdem and the V&A received the prestigious accolade. Each year, the Walpole British Luxury Awards celebrate and reward...

Retail

Aquascutum launching store on JD.com

The British heritage brand opens an official flagship store on China’s largest e-commerce retailer, JD.com. The opening is coupled with Black Friday, offering steep discounts of up to 60 percent off. Known for its iconic trench coats, Aquascutum will be offering their signature styles and a selection of merchandise on the new JD.com store. “We...

Retail

Luxury market continues to be bullish at 7 percent growth

Bain & Company has revealed a 7 percent growth of the global luxury market in constant currencies for 2018 at the Vogue Fashion Festival. Personal luxury items have yielded around 280 billion Euros worth of global revenue in the year. Despite earlier shockwaves to luxury stock prices ignited by daigou crackdowns in China, the global luxury...

Fashion |OPINION Featured

Why designers are taking back control of their fashion companies

For many burgeoning brands, being a member of a luxury group is the key to growth and longevity. Luxury conglomerates like Kering, LVMH and Richemont have the prowess and investment acumen to set up successful production and manufacturing processes, develop and expand collections and product categories, grow distribution channels, conquer new...