LuxuryBrands

Bernard Arnault Signals Intent to Lead LVMH Well Into His 80s

20 days ago

In a recent statement, Bernard Arnault, the influential CEO of LVMH Moët Hennessy Louis Vuitton, has indicated he intends to remain at the helm of the luxury goods empire until he reaches the age of 85. This revelation has sparked discussions regarding the future leadership of the company and Arnault's lasting impact on the luxury sector.

The Decline of Luxury Retail: A Wave of Shop Closures Hits Europe's Most Prestigious Streets

1 month ago

In a troubling reflection of the changing landscape of consumer behavior, luxury retail in Europe is experiencing a significant downturn. A spate of high-profile shop openings has come to an abrupt halt across the continent’s elite shopping districts as leading brands reassess their strategies amidst fluctuating demand. This trend poses questions for the future of luxury and how brands will navigate the evolving market dynamics.

Tapestry Raises Sales and Profit Outlook for 2025 Amid Strong Demand for Coach Products

2 months ago

In a recent development, Tapestry Inc., the renowned parent company of marquee brands such as Coach, Kate Spade, and Stuart Weitzman, has significantly upgraded its annual sales and profit forecasts for the financial year 2025. This upward revision is primarily fueled by robust consumer interest and sales performance specifically in its Coach brand.

Trump's Tariff Threat Forces Luxury Brands to Shift Focus Toward Older Consumers

3 months ago

The economic landscape is shifting once more as impending tariffs on imported goods loom large over the luxury goods market. Former President Donald Trump has reignited discussions about imposing tariffs on various products, which has forced luxury brands to reevaluate their marketing strategies and shift their target demographics. Specifically, these prestigious brands are considering a pivot towards older consumers as a promising strategy amidst the uncertainties posed by potential tariffs.

Kering Set to Finalize Property Deal by Early 2025 to Alleviate Debt Pressure

4 months ago

Kering, the luxury conglomerate known for brands such as Gucci and Saint Laurent, is on the verge of completing a significant property transaction as it seeks to strengthen its financial footing. With plans to finalize the deal by the early months of 2025, Kering aims to reduce its considerable debt burden and enhance its overall financial health.

Luxury Sector Faces Turmoil as Chinese Shoppers Retreat from European Brands

5 months ago

In a notable shift within the luxury sector, major European brands such as LVMH and Kering are witnessing a significant downturn in sales, driven chiefly by a retreating Chinese consumer base. Once the mainstay of luxury shopping, Chinese customers have greatly reduced their spending abroad, which is critically impacting these luxury giants that rely heavily on this demographic.

Federal Judge Prevents Tapestry's Acquisition of Capri in Major FTC Victory

5 months ago

In a significant legal development affecting the fashion industry, a federal judge has blocked Tapestry's proposed acquisition of Capri Holdings, a move that has been hailed as a triumph for the Federal Trade Commission (FTC). Tapestry, the parent company of luxury brands like Coach and Kate Spade, had sought to acquire Capri, which owns labels including Versace, Michael Kors, and Jimmy Choo, in a deal valued at approximately $8 billion.