Jewellery is a booming, sought-after sector, as shown by LVMH’s recent bid for Tiffany & Co. FashionNetwork looks into the advantages and potential of an industry still little-known and underexploited by luxury groups.
It is hard to imagine a more contemporary designer than Virgil Abloh, who staged his latest show inside France’s greatest temple to contemporary art, the Pompidou Centre. But then was nowhere to be seen.
Farfetch said Thursday it's buying one of the most dynamic groups of fashion forward designer brands as it continues to expand fast. It also had news on its exec team and reported wider losses as it invests in growth.
It was a mixed (luxury) bag of results for Mulberry in the 53 weeks to the end of March with the UK company saying its international business developed, its D2C strategy progressed, but the UK market was challenging.
Farfetch has become a founding member of a new blockchain initiative backed by the likes of Facebook, Uber and Mastercard that will “help to enable frictionless e-commerce” and revolutionise the luxury industry.
Farfetch has made several changes to its senior management team. Kshitij Kumar has been appointed as the company’s first chief data officer, whilst Holli Rogers is to become its first chief brand officer.
Kering, owner of brands including Gucci, will tighten its grip on its e-commerce operations, focusing on its own branded sites to sell its luxury products or ventures where it can control its image and client data.
Farfetch launched its ‘Farfetch Communities’ initiative earlier this year with content curated by influencers, and now the shopping platform’s latest move involves content created in collaboration with brands.