Covid-19 has boosted e-tail, especially for multibrand sites and leading luxury labels, according to a study by Bernstein for Altagamma. An evolution that means other labels need to rethink their commercial strategy.
Despite disruption in Hong Kong, Kering recorded a positive Q3 with revenue up by 14%, driven by strong performances by Gucci, Bottega Veneta and Saint Laurent, as the luxury group’s share price soared last Friday.
U.S. luxury department-store chain Barneys New York is nearing a roughly $270 million deal with brand developer Authentic Brands Group that could lead to Barneys shops opening in Saks Fifth Avenue stores.
Grupo Sanborns, part of the group of companies owned by Mexican billionaire Carlos Slim, announced on Monday that it has reached an agreement to buy an 18.27% stake in Miniso, taking its total interest to 33.27%.
Fashion brands need to put their foot down and take action to prevent “a race to the bottom” in terms of discounts that threaten whole fashion retail eco-system, Farfetch CEO José Neves told FashionNetwork.com.
Menswear personalised styling service Thread has raised almost £17 million (actually $22 million) in Series B funding with the company’s latest investment round attracting H&M’s investment arm, among others.