Canada Goose beat estimates for quarterly revenue and profit on Thursday, boosted by a surge in online sales and increased demand for its luxury parkas in China, sending the company’s U.S-listed shares up nearly 21%.
Alibaba Group’s cross-border business-to-consumer marketplace Tmall Global has increased its support for international brands, unveiling a new suite of solutions at the 2021 Tmall Global New Seller Virtual Summit.
Fashion label Gucci will open two flagship stores on Alibaba's online luxury shopping platform, underscoring the importance of the Chinese market for high-end brands seeking to reverse a revenue slide due to Covid-19.
This year has increased the importance of Chinese consumers to the luxury sector as the overall market has shrunk while China’s purchases have surged. And there's more to come in the next few years too.
Farfetch is rarely out of the news these days and it’s currently making headlines with its Q3 results. It's still loss-making, but appears to be riding the wave of the "paradigm shift in favour of online luxury".
H&M has named Leyla Ertur as its new Head of Sustainability, starting in the New Year. The role affects the fashion choices of millions, as news that the H&M chain's loyalty program now numbers over 100m members shows.