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Top 100 luxury companies generated $252 billion in 2020

Top 100 luxury companies generated $252 billion in 2020

Following a challenging year, Deloitte’s latest Global Powers of Luxury Goods report shows that the revenues generated by the world’s top 100 luxury companies dropped from $281 billion in 2019 to $252 billion in 2020.
Luxury
The RealReal reports 51% GMV increase in November

The RealReal reports 51% GMV increase in November

The luxury resale marketplace announced on Thursday that gross merchandise value on its platform totaled approximately $146 million in November, with growth driven by shopping holidays such as Black Friday.
Fashion
Thailand's Central denies Selfridges buy after report says it won £4bn race for firm

Thailand's Central denies Selfridges buy after report says it won £4bn race for firm

Thailand’s Central Group has denied it’s in talks to buy Selfridges after it was reported globally that the firm will buy the business, perhaps as soon as this month.
Fashion
Luxury goods groups Hermes, Richemont enter blue-chip Euro STOXX 50 index

Luxury goods groups Hermes, Richemont enter blue-chip Euro STOXX 50 index

Luxury goods companies Hermes and Richemont won promotion on Wednesday to the blue-chip Euro STOXX 50 equity index, which could increase investment funds' demand for the stocks that have hit all-time highs.
Luxury
Allbirds Q3 is strong but losses widen as it invests in growth

Allbirds Q3 is strong but losses widen as it invests in growth

Allbirds enjoyed a “strong” Q3 with the three months to the end of September seeing net revenues surging 33% year-on-year. 
Fashion
Luxury brands that reject resale risk losing out, says study

Luxury brands that reject resale risk losing out, says study

According to a new report from McKinsey, exploring the rapidly growing resale market not only opens a new revenue stream for luxury labels but could also have a positive effect on brand loyalty and desirability.
Luxury
Gucci heirs threaten legal action over Ridley Scott film

Gucci heirs threaten legal action over Ridley Scott film

The heirs of Italian fashion house Gucci on Monday threatened to take legal action over Ridley Scott's new film "House of Gucci" for depicting members of the family as "hooligans".
Luxury
MCM links with British artists in London flagship project

MCM links with British artists in London flagship project

​As part of its international Upcycling Project, luxury accessories specialist MCM has launched a collaboration with five forward-looking UK artists.
Fashion
Fred Perry weathers the pandemic storm despite profits drop

Fred Perry weathers the pandemic storm despite profits drop

​Fred Perry has filed its 2020 results and while comparisons are skewed due to changes in its financial year dates during 2019, they show that the pandemic was clearly a tough time for the business.
Fashion
Luxury: how can sector deal with radical rejuvenation of clientèle?

Luxury: how can sector deal with radical rejuvenation of clientèle?

By 2025, 70% of luxury consumers will be aged below 40, forcing labels to revise their approach and values, broadening them to include more culture-based elements, according to the latest study by Bain & Co.
Luxury
Hugo Boss gets major loan linked to sustainability targets

Hugo Boss gets major loan linked to sustainability targets

​Hugo Boss has become the latest major fashion name to link its financing to green goals. The German giant — in which Frasers Group owns a large stake — has secured a syndicated loan with a sustainability component.
Luxury
Mulberry plans UK production expansion after recovery sets in

Mulberry plans UK production expansion after recovery sets in

Mulberry could expand its UK production, it said after delivering a strong set of results. It has already added an extra production line in Somerset and could add another if sales growth is sustained.
Luxury
Farfetch, Clipper Logistics form JV for global luxury e-fulfilment solution

Farfetch, Clipper Logistics form JV for global luxury e-fulfilment solution

​Farfetch has announced a new joint venture with UK-based logistics giant Clipper Logistics to create a major international e-fulfilment operation dedicated to the luxury industry.
Luxury
Saks Fifth Avenue launches holiday campaign with Michelle Obama

Saks Fifth Avenue launches holiday campaign with Michelle Obama

Saks Fifth Avenue has launched its holiday campaign in support of the Obama Foundation's Girls Opportunity Alliance. 
Luxury
​Gucci's Alessandro Michele to get Trailblazer title at Fashion Awards

​Gucci's Alessandro Michele to get Trailblazer title at Fashion Awards

​Alessandro Michele is set to receive the Trailblazer Award at the TikTok sponsored Fashion Awards 2021 on 29  November at London’s Royal Albert Hall. The Gucci creative director becomes the award's third recipient.
Luxury
Malone Souliers opens first UK store with Mayfair debut

Malone Souliers opens first UK store with Mayfair debut

​Footwear and accessories specialist Malone Souliers has opened its first UK physical store with a debut in the heart of Mayfair on Mount Street.
Fashion