Covid-19 has once again put the brakes on consumer spending, according to a recent survey by Deloitte. In luxury shopping districts, in Milan for example, the footfall drop since the start of 2020 has been drastic.
As news continues to swirl around Alibaba’s interest in Farfetch, on Tuesday it emerged that investment company Eurazeo has completed the sale in the market in recent days of all its shares in the luxury e-tailer.
Landlords may be under pressure, but Mayfair's Grosvenor has unveiled a radical plan to invest in the businesses of some retail tenants in the key shopping neighbourhood and "rewrite what it means to be a landlord".
Luxury shopping in the post-Covid era is seen again as an exclusive gratification, a localised, digital and sensorial experience through authentic, high-added-value products, according to market research firm Ipsos.
The San Francisco-based digital-first luxury consignment platform has opened its first flagship store in the Windy City, its largest location to date, featuring in-store valuation and tailoring services.
French luxury group Kering confirmed a broad recovery in sales of high-end goods in the third quarter as Asian and U.S. demand helped revenues improve, though its star Gucci brand underperformed rivals.
London destination store Browns is celebrating its 50th anniversary with a major campaign, a raft of exclusives, a webstore redesign and lots more activity to mark the influential store’s half-century.