Desirée Bollier, wearing thick, black-rimmed glasses and a sharp grey suit, says luxury industry is facing an existential crisis after Covid. “Many luxury houses,” she says, “are using this crisis to rethink everything—from supply chains to design.” Bollier would know. She is the chair and global chief merchant of Value Retail. It is the operator…
Europe’s luxury brands, once a powerhouse in the stock market, and seen as the region’s answer to US’ ‘Magnificent Seven’ technology companies are facing increasing challenges. The US’ ‘Magnificent Seven’ technology companies include Apple, Microsoft, Google parent Alphabet, Amazon.com, Nvidia, Meta Platforms and Tesla.According to a report in Bloomberg, these companies that define kinda luxury,…
(Representative Image) German fashion house Hugo Boss on Monday cut its sales guidance for the year to a range of between 4.20 billion euros (USD 4.58 billion) to 4.35 billion euros over weakening global consumer demand especially in markets like China and the UK. The company earlier expected sales for the year at around 4.30…
ZURICH: Cartier owner Richemont enjoyed a surge in sales in China in its latest quarter, signalling on Thursday the resilience of the high end of the luxury market and sending shares of the Swiss watch and jewellery maker sharply higher. China’s cooling economy and ongoing property crisis have been a worry for the sector which…
London: British luxury fashion house Burberry on Thursday announced sliding net profit during its first half as global demand for expensive clothing weakens, notably in China’s softening economy. Profit after tax dropped 18 percent to £158 million ($196 million) in the six months to the end of September, the British group said in a statement….
