Luxury brands will increasingly have to court Chinese shoppers on their home turf, as purchases soar among a clientele who are forecast to generate nearly half the industry’s sales by 2025, a study showed on Thursday.
The Middle East, a region with a €13 billion luxury market, didn’t have a single fashion school until this decade. Surprisingly, the first institute was born in Beirut. We visited it to discover its remarkable story.
Bain & Company, which will present its annual study this month, gave a preview of its results at the Vogue Fashion Festival on Friday, announcing estimated global revenues in the luxury sector of 280 billion euros.
Gernot Lenz, the CEO of S.Oliver is leaving the post after less than a year over a difference of opinion regarding the leadership of the company. Lenz joined the clothing brand in January to succeed Armin Fichtel.
Longchamp, one of France's leading handbag makers, is increasing its presence in China and the United States to boost its sales, its CEO said, betting on celebrity tie-ins and its online platforms to revive growth.
Farfetch priced its shares above its targeted range on Friday in a New York flotation that values the online luxury retailer at over $5.8 billion and underscores how big a bet web sales have become for high-end brands.