Luxury firms Chanel and LVMH are reportedly competing to become the new owner of a building on Manhattan’s Fifth Avenue. Both companies have been in talks to buy the location on the luxury shopping corridor, Bloomberg reported Monday (April 8). Global luxury retailers have been competing to buy buildings on Fifth...
Luxury brands like Gucci are reportedly spending billions to stay at high-profile addresses. As The Wall Street Journal (WSJ) reported Saturday (April 6), these companies are worried that if they don’t snatch up their flagship stores, one of their competitors will purchase the property and evict them....
LVMH is making its way to Tinseltown, establishing a foothold in film and television to drive brand visibility and relevance. The luxury giant, owner of Louis Vuitton, Moët Hennessy, Tiffany & Co., Christian Dior and many others, shared plans for its new venture, 22 Montaigne...
Luxury group Kering reported a 9% decline in revenue on a comparable basis in the third quarter, attributing the drop to macroeconomic conditions and its own changes in distribution. Among the group’s brands, Gucci’s revenue was down 7% on a comparable basis, Yves Saint Laurent’s was down...
November 24, 2024
While Chinese consumers are struggling, the country’s secondhand luxury market is reportedly thriving. As the Financial Times (FT) reported Sunday (Nov. 24), companies such as Cartier owner Richemont, Gucci parent Kering and LVMH have all recently recorded declining sales in the Asia-Pacific region (except Japan), which is dominated by China. Richemont’s CEO, the report said, […]
April 08, 2024
Luxury firms Chanel and LVMH are reportedly competing to become the new owner of a building on Manhattan’s Fifth Avenue. Both companies have been in talks to buy the location on the luxury shopping...
April 07, 2024
Luxury brands like Gucci are reportedly spending billions to stay at high-profile addresses. As The Wall Street Journal (WSJ) reported Saturday (April 6), these companies are worried that if they don’t snatch...
October 24, 2023
Luxury group Kering reported a 9% decline in revenue on a comparable basis in the third quarter, attributing the drop to macroeconomic conditions and its own changes in distribution. Among the group’s...
