luxury Archive

Luxury Goods Market Hampered by Terror Threats, US Election

MILAN, Italy — The terror threat in Europe, a strong dollar and uncertainty over the US presidential elections have eroded the confidence of the globe’s big-spenders, holding luxury purchases flat in 2016, according to a study released Thursday. Spending on luxury apparel, accessories and other personal items is expected to hold steady at 249 billion euros ($273 million) this year, a study by Bain Consultancy for …

In Stagnant Market, Luggage Brands Roll On

LONDON, United Kingdom — In the first four months after it launched, luggage brand Raden made around $2 million worth of sales from its website and Manhattan showroom. The company, which sells just two sizes of luggage in a range of different colours, is on track to meet its target of $12 million in sales for its first nine months, according to founder and chief executive …

LVMH Sales Beat Estimates On Fashion and Leather Goods

PARIS, France —LVMH, the world’s biggest luxury-goods maker, reported third-quarter revenue that beat estimates, led by a stronger-than-expected performance in fashion and leather goods. Sales rose to €9.14 billion ($10.2 billion), the Paris-based maker of TAG Heuer watches and Hennessy cognac said in a statement Monday. Analysts had predicted €8.92 billion, according to the median of 21 estimates in a Bloomberg survey. Revenue climbed 6 …

No Growth but No Panic in the Luxury Sector

LONDON, United Kingdom — Both the Savigny Luxury index (SLI) and the MSCI World Index (MSCI) ended up flat this month, with the SLI posting a small gain whilst the MSCI tipped slightly into negative territory. Valuations are stable despite unappealing growth prospects, underpinned by the defensive nature of a number of luxury goods stocks benefitting from strong balance sheets, the absence of pension issues …

BoF Exclusive | Sacai Launches Handbags

PARIS, France — Sacai, the cult Japanese label founded by Chitose Abe, is expanding into handbags with the help of Katie Hillier, the accessories designer and consultant who helped create ‘It’ bags for brands including Victoria Beckham and Marc by Marc Jacobs. A protégée of Rei Kawakubo, Abe has built a reputation among fashion insiders for her couture-like craftsmanship and playful designs, which fuse elements of …

The Unlikely Success of Virgil Abloh

PARIS, France — “There is a new guard of designers that represent the luxury culture,” says Bosse Myhr, director of menswear and technology at British department store Selfridges. At the top of the list, alongside Shayne Oliver of Hood By Air and Demna Gvasalia of Vetements, is Virgil Abloh, the longtime creative consultant to Kanye West, whose streetwear-inspired, Milan-based label Off-White has attracted fans from …

Luxury Makers’ Dubious Dividends Make Them Target for Shorts

PARIS, France — Higher dividends at a handful of struggling posh-product makers are a luxury they may not be able to afford. So goes the bear case on companies such as Richemont and Tod’s SpA, both down more than 20 percent this year and both still squarely in the sights of short sellers. Lingering expectations that they will raise dividends even after reporting declining sales …

Gucci Among World’s Hottest Fashion Brands, While Prada Cools

LONDON, United Kingdom — Gucci has been named one of the “hottest” luxury brands, while Prada and Giorgio Armani are “cooling” fast, according to a new report by Exane BNP Paribas. The financial services firm assessed the “brand temperature” of luxury companies, based on the ratio between the editorial coverage they receive in print magazines, and their print advertising spend. Brands are ranked as “hot” …

Gucci Among World’s Hottest Fashion Brands, While Prada Cools

LONDON, United Kingdom — Gucci has been named one of the “hottest” luxury brands, while Prada and Giorgio Armani are “cooling” fast, according to a new report by Exane BNP Paribas. The financial services firm assessed the “brand temperature” of luxury companies, based on the ratio between the editorial coverage they receive in print magazines, and their print advertising spend. Brands are ranked as “hot” …

Swiss Watch Slump Extends Beyond a Year as Hong Kong Demand Ebbs

ZURICH, Switzerland — Swiss watch exports declined for a 13th consecutive month in July as Hong Kong, traditionally the biggest market for luxury timepieces, slipped to second place for the first time in almost a decade. Shipments fell 14 percent to 1.6 billion francs ($1.7 billion), the Federation of the Swiss Watch Industry said in a statement Tuesday. Exports to Hong Kong fell 33 percent to 175 …