Luxury goods stocks have been hammered in recent weeks by concerns about weakening demand in China and a looming trade war with the US. But the real picture is much more mixed, the chairman of Alibaba said on Monday.
Alibaba Group cashed a record 213.5 billion yuan ($30.7 billion or £23.8 billion) in sales on Sunday during its 24-hour online retail frenzy Singles’ Day, but the event’s annual growth dropped to its slowest-ever rate.
Luxury goods group Richemont struck a cautious note after reporting sales numbers hurt by moves to combat the grey market and efforts by the Chinese government to discourage consumers from spending overseas.
Virgil Abloh has been named as the designer of 2018 by Ebay’s Shopping Report, which also highlights trends ranging from logos and faux fur to denim boots and pretty much anything connected to a certain royal wedding.
The NYC-based beauty company reported a significant narrowing of Q3 net losses on Friday, thanks to cost-cutting measures which compensated for faltering sales and are soon to be expanded through a new optimization plan.
Bain & Company, which will present its annual study this month, gave a preview of its results at the Vogue Fashion Festival on Friday, announcing estimated global revenues in the luxury sector of 280 billion euros.
Farfetch losses may have grown in Q3, but at its still-early development stage that's no shock. Losses aside, its Q3 report showed it surging ahead on sales and market share with enough cash to fund its lofty ambitions.
The Austrian fibre producer behind the Tencel brand has posted a 5.2% decline in sales to €1.64 billion ($1.8bn) for the first nine months of the year, as it was forced to pay more for key raw materials.
This For That is looking to raise its seed found of investments after so far relying on friends and family. The online fashion swapping platform will also expand from New Delhi to Bengaluru and later Mumbai.