LVMH saw quarterly sales dip amid an “uncertain economic and geopolitical environment.” The luxury retail giant reported third-quarter earnings that showed a 3% drop in revenues — to 19.1 billion euros — while sales in its core fashion and leather goods units — which includes...
Bernard Arnault, founder and CEO of luxury goods company LVMH and the fourth-richest person in the world, has reportedly made several investments in artificial intelligence (AI) companies. Arnault’s family office, Aglaé Ventures, has made five AI-related investments in 2024, CNBC reported Monday (Aug. 19), citing...
In an era where luxury is becoming increasingly defined by personalization, wealthy consumers are demanding that brands innovate, tailoring their offerings to match their individual preferences. Take, for instance, luxury giant LVMH. The company’s Selective Retailing business, offering “personalized shopping experiences matched to individual aspirations,”...
U.S. companies are reportedly looking to this summer’s Paris Olympics to put them ahead of their competitors. Event sponsors have spent 18% more on the upcoming Olympics than they spent on the 2021 summer Olympics, Reuters reported Friday (July 12), citing Comcast’s NBCUniversal. Detailing the ways U.S. firms...
July 19, 2023
While Richmont has essentially declared that China isn’t buying, prestigious London department store Harrods is preparing to unveil an exclusive club in Shanghai. This step not only marks the luxury retailer’s first venture into international territory but also contradicts the wishy-washy buying patterns observed among Chinese consumers. Just this week, PYMNTS reported, “China, once hailed as […]
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, […]
October 15, 2024
LVMH saw quarterly sales dip amid an “uncertain economic and geopolitical environment.” The luxury retail giant reported third-quarter earnings that showed a 3% drop in revenues — to 19.1 billion...
August 19, 2024
Bernard Arnault, founder and CEO of luxury goods company LVMH and the fourth-richest person in the world, has reportedly made several investments in artificial intelligence (AI) companies. Arnault’s family office,...
July 12, 2024
U.S. companies are reportedly looking to this summer’s Paris Olympics to put them ahead of their competitors. Event sponsors have spent 18% more on the upcoming Olympics than they spent...
