High-end e-tail giant Yoox Net-A-Porter has named Nisreen Shocair as its CEO, Middle East. She joins with “extensive global retail and e-commerce expertise, holding senior positions in the UAE and New York”.
The Italian luxury label has deployed a new strategy designed to concentrate its jewellery sales exclusively in its own stores, while also reducing the presence of its watches and fragrances in multibrand retailers.
Millennial and Gen Z consumers, especially from Asia, plus the growth of online, a booming secondhand market, and a desire for social responsibility are all pushing growth higher in the luxury market, a new study shows.
Luxury giant LVMH and American jeweller Tiffany have confirmed that they've “entered into a definitive agreement whereby LVMH will acquire Tiffany for $135 per share in cash," valuing Tiffany at €14.7bn/$16.2n.
It is hard to imagine a more venerable luxury brand than Cartier, which has a reputation for artisanal excellence second to none. Yet, the majority of its audience is that lodestone of modern marketing, millennials.