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Luxury giants increase their grip on sector, growth continues but landscape shifts
The luxury goods industry was expanding healthily before the pandemic hit, but while sales were strong, a select group of luxury giants dominated the sector overall.
Luxury
Rimowa launching new line named Never Still
Rimowa has decided to soften things up. The baggage brand known for its signature hard-wearing aluminium cases is launching a new collection of bags, targeted at a younger and more restless consumer.
Luxury
Dufry expects major cash flow drops as travel retail stays weak
Swiss airport retailer Dufry has announced its cash flow estimates in a still-uncertain world and is planning for potential full-year declines in turnover of 40%, 55% and 70%.
Luxury
L'Oréal sales fall is worse than expected, travel retail suffers
Sales at Maybelline maker L’Oréal fell more sharply than expected in the second quarter, though the French beauty giant managed to contain any major profit erosion as the COVID-19 pandemic forced stores to close.
Luxury
LVMH reduces 2019 dividend by 20%, as sales plummet 15% in first quarter 2020
"Expect a slow recovery from the pandemic in 2020", warned Bernard Arnault, chairman and CEO of LVMH, whose giant group on Tuesday morning announced a 20% reduction dividend in 2019.
Fashion
World Duty Free owner Dufry cuts jobs as travel retail takes huge pandemic hit
Swiss travel retail giant Dufry AG on Wednesday launched a restructuring programme designed to cut its staff costs as it works to protect its business following the effects of the coronavirus outbreak globally.
Fashion
Without tourists, Europe's luxury shops struggle to reopen in style
As European luxury shopping capitals from Paris to Milan slowly emerge from coronavirus lockdowns, stores are reopening to a trickle of customers, and virtually no tourists.
Lifestyle
'Travelling Trunk: Made in Bengal' exhibit to showcase Kolkata design around India
Pop-up shopping exhibition ‘Travelling Trunk: Made in Bengal’ will showcase Kolkata’s fashion design talent across India with participating brands including Tahweave, Vasundhara Mantri, and Richa Khemka.
Luxury
Indo-Russian Friendship Celebration 2020 to showcase folk fashions and handicrafts
From March 7 to 8, the Indo-Russian Friendship Celebration 2020 will feature folk fashion and handicrafts to strengthen cultural ties between the two nations and promote business exchange.
Fashion
Amazon boss Bezos to face protests from traders during India trip
Thousands of small-scale traders in India are planning to organise protests against Amazon.com Inc founder Jeff Bezos, who will visit the country next week.
Fashion
Echoes of Earth festival promotes sustainable fashion with flea market
The Echoes of Earth music festival shone a spotlight on sustainable fashion with a flea market dedicated to up-and-coming fashion and lifestyle brands including Voi Jeans and No Borders over the weekend.
Fashion
Khara Kapas to hold trunk shows in Mumbai and Bengaluru this month
Women’s ethnic wear brand Khara Kapas will hold a pop-up shopping event in Mumbai from December 9 to 10. The brand will also travel to Bengaluru for a showcase from December 20 to 21 to promote its latest collection.
Luxury
Trunk House sees potential in travel fashion, opens first store in Mumbai
Trunk House opened its first multi-brand luxury boutique in the city of Mumbai, as it sees huge potential for growth in the travel fashion segment in India.
Fashion
Inherit 2019 shopping festival to take place in New Delhi with the FDCI
The fashion and lifestyle shopping exhibition Inherit 2019 will take place in New Delhi from December 7 to 8 and will feature clothing, crafts, and design at the Sunder Nursery Heritage Park in Nizamuddin.
Fashion
House of Masaba to hold Dubai Trunk Show
House of Masaba will travel to Dubai for a festive pop-up shop from October 4 to 5 at Vesimi in Business Bay. The event will launch the brand’s festive collection for the first time in Dubai.
Lifestyle
Bombay High Court orders Mehul Choksi’s medical reports to be checked by Indian hospital
The Bombay High Court has ordered accused jeweller Mehul Choksi to submit his medical records to the government JJ Hospital to ascertain whether or not he is fit to travel to India to stand trial for his alleged fraud.
Luxury