Luxury label Elie Saab has launched a new direct-to-consumer (D2C) transactional site, offering “a content-rich, immersive brand experience that recreates the VIP in-store customer journey virtually”.
The iconic French fashion house opened a new boutique in Miami’s Design District on Thursday, revealing a two-floor couture destination designed by architect and longtime brand collaborator Peter Marino.
Following a challenging year, Deloitte’s latest Global Powers of Luxury Goods report shows that the revenues generated by the world’s top 100 luxury companies dropped from $281 billion in 2019 to $252 billion in 2020.
The luxury resale marketplace announced on Thursday that gross merchandise value on its platform totaled approximately $146 million in November, with growth driven by shopping holidays such as Black Friday.
Luxury goods companies Hermes and Richemont won promotion on Wednesday to the blue-chip Euro STOXX 50 equity index, which could increase investment funds' demand for the stocks that have hit all-time highs.
According to a new report from McKinsey, exploring the rapidly growing resale market not only opens a new revenue stream for luxury labels but could also have a positive effect on brand loyalty and desirability.
By 2025, 70% of luxury consumers will be aged below 40, forcing labels to revise their approach and values, broadening them to include more culture-based elements, according to the latest study by Bain & Co.
Hugo Boss has become the latest major fashion name to link its financing to green goals. The German giant — in which Frasers Group owns a large stake — has secured a syndicated loan with a sustainability component.