De Beers Makes Sweeping Cuts to Its Elite Diamond-Buying Club
The diamond company produced less than 22 million carats last year, down from almost 35 million in 2022.
travel-retail
Luxury
China Bets on Duty-Free Paradise to Keep Luxury Spenders at Home
China's efforts to lift local consumption and spur domestic tourism have spawned a duty-free paradise on the southern island of Hainan.
China Bets on Duty-Free Paradise to Keep Luxury Spenders at Home
China's efforts to lift local consumption and spur domestic tourism have spawned a duty-free paradise on the southern island of Hainan.
Retail
Tight-Fisted Tourists Damp Outlook for Hugo Boss, Tod’s
Spending is down 5 percent in Europe this year, dragged down by a 16 percent drop in France following the November terror attacks in Paris.
Tight-Fisted Tourists Damp Outlook for Hugo Boss, Tod’s
Spending is down 5 percent in Europe this year, dragged down by a 16 percent drop in France following the November terror attacks in Paris.
Retail
Missed Opportunity: China’s Neglected Domestic Travellers
While outbound Chinese tourists attract the most attention, holidaymakers shopping inside China are a consumer market that is growing too.
Missed Opportunity: China’s Neglected Domestic Travellers
While outbound Chinese tourists attract the most attention, holidaymakers shopping inside China are a consumer market that is growing too.
Financial Markets
The Growth Conundrum
As key global markets continue to cool, business growth in the luxury sector will be hard won in 2016. But, here are three levers that fashion’s luxury megabrands can employ to drive growth.
The Growth Conundrum
As key global markets continue to cool, business growth in the luxury sector will be hard won in 2016. But, here are three levers that fashion’s luxury megabrands can employ to drive growth.
Global Markets
In Japan, Luxury Flourishes While Economy Flounders
Japan’s economy is dipping in and out of recession, but the country is still one of the bright spots in the global luxury goods market. BoF reports.
In Japan, Luxury Flourishes While Economy Flounders
Japan’s economy is dipping in and out of recession, but the country is still one of the bright spots in the global luxury goods market. BoF reports.
Global Markets
Chinese Shoppers in South Korea Shun Luxury for Local Brands
Chinese visitors to South Korea are buying less from global luxury mainstays like Louis Vuitton and Chanel in favour of cheaper homegrown brands, as young, independent travellers make up a bigger share of tourists.
Chinese Shoppers in South Korea Shun Luxury for Local Brands
Chinese visitors to South Korea are buying less from global luxury mainstays like Louis Vuitton and Chanel in favour of cheaper homegrown brands, as young, independent travellers make up a bigger share of tourists.
Global Markets
Luxury Exposed to Paris-Like Attacks
Dependent on purchases by travellers in a limited number of global cities, luxury goods companies are susceptible to the impact of terror attacks.
Luxury Exposed to Paris-Like Attacks
Dependent on purchases by travellers in a limited number of global cities, luxury goods companies are susceptible to the impact of terror attacks.
Retail
The Anatomy of Travel Retail
Travellers account for 40 percent of global spending on personal luxury goods, with 12 to 13 percent captured through dedicated travel retail channels. Who is best positioned to capitalise?
The Anatomy of Travel Retail
Travellers account for 40 percent of global spending on personal luxury goods, with 12 to 13 percent captured through dedicated travel retail channels. Who is best positioned to capitalise?
Luxury
London Calling in Pre-Ramadan Rush
London is the fashion capital where oil-rich Arabs spend the most cash in the run up to Ramadan.
London Calling in Pre-Ramadan Rush
London is the fashion capital where oil-rich Arabs spend the most cash in the run up to Ramadan.
Retail
The Great Mall of China
With two-thirds of Chinese luxury purchases now made outside mainland China, the whole world has become a Chinese luxury shopping mall. Who is benefitting most?
The Great Mall of China
With two-thirds of Chinese luxury purchases now made outside mainland China, the whole world has become a Chinese luxury shopping mall. Who is benefitting most?
Global Markets
Gulf Tourists Flock to Munich’s Luxury Lifestyle as Paris Fades
Munich — thanks to the city’s medical facilities and array of luxury boutiques — has helped Germany race past France and Britain to become the European destination of choice for tourists from the Gulf states.
Gulf Tourists Flock to Munich’s Luxury Lifestyle as Paris Fades
Munich — thanks to the city’s medical facilities and array of luxury boutiques — has helped Germany race past France and Britain to become the European destination of choice for tourists from the Gulf states.
Global Markets
Chinese Tourists' Luxury Spending Soars in Europe
Chinese tourists spent a record amount on luxury goods last month, helped by shopping sprees in Europe as the weak euro made items cheaper than at home.
Chinese Tourists' Luxury Spending Soars in Europe
Chinese tourists spent a record amount on luxury goods last month, helped by shopping sprees in Europe as the weak euro made items cheaper than at home.
The News in Brief
L’Oréal India in Talks to Acquire Beauty Company Innovist
L’Oréal is in advanced talks to acquire a majority stake in Bare Anatomy parent Innovist sources told The Economic Times India.
Zegna Chairman Says War Has Clouded Visibility of Demand in Middle East
The Italian fashion house cautioned the war is reducing visibility on demand in the Middle East, which accounts for 7 percent of its sales, though all stores are currently open in the region.
Glossier Appoints New CMO
Nicole Solorzano, who joins from Ouai, is the Millennial beauty brand’s latest hire.
Macy’s CEO Points to E-Shaped Economy, Signalling Consumer Shift
The mention of a forked economy by the head of America’s largest department store signals a heightened wariness that middle-income Americans will continue to spend at the same pace.
France’s Bid to Suspend Shein’s Marketplace Rejected by Appeals Court
The decision from Paris’ Court of Appeal marked a win for the fast-fashion giant after a scandal over sex dolls resembling children for sale on its site.
Coty Announces Board Revamp
The embattled Covergirl owner has appointed five new independent directors amidst a wider leadership and company shakeup.
Zimmermann Names Roberto Eggs CEO
The Moncler Group executive will succeed longtime CEO Chris Olliver, who is staying on as executive chairman.