The global luxury industry, largely headquartered in Europe, is perilously close to pricing itself out of the market. Top international brands have been growing their margins by increasing prices, a process that speeded up since the pandemic. The industry now derives an enormous part of its business from the top tier of its clientele, and…
Bitcoin’s soaring value has caught the attention of high-end fashion brands and retailers, prompting further interest in offering cryptocurrencies as a means of payment to tap in to fresh pockets of wealth and build loyalty with crypto investors. Until recently, only a handful of luxury brands including LVMH watch labels Hublot and Tag Heuer as…
Representative Image India’s luxury market is undergoing a remarkable transformation, driven by a rising number of high-net-worth individuals (HNIs), an expanding middle class, and growing disposable incomes. Global luxury brands are increasingly eyeing India as a key market for their expansion, tapping into the country’s growing appetite for premium products. As wealth rises and aspirations…
Representative image China’s second-hand and grey markets for luxury goods are booming, as price hikes from luxury brands in a weak economy are prompting some shoppers to look for cheaper ways to buy them, deepening concerns for the likes of LVMH. LVMH, the world’s biggest luxury group, reported a 3% fall in quarterly sales last…
Business is growing in double digits for Panerai in India, and the country could do with more real estate projects catering to the luxury industry, Jean-Marc Pontroue, CEO of luxury watchmaker Panerai told ET. Panerai currently has three boutiques and also retails through ten multi-brand retailers across the country. It will launch its fourth boutique…
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,…
Italian fashion group Ermenegildo Zegna reported broadly flat second q Representative Image uarter organic revenue on Thursday as sales in the United States, Europe and Middle East helped offset a weaker quarter at its Thom Browne brand. Organic revenue totalled 497 million euros ($539 million) for the April-June quarter, down 0.4% from a year earlier….
Representative Image New Delhi: Swiss watchmakers are increasingly focusing on India, which is emerging as a lucrative market for premium watches. The rising interest among Gen Z and millennial consumers who are inclined towards luxury experiences and products is driving this trend according to a Deloitte report, released on Wednesday. The report highlights the Trade…
(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…
Representative Image The rich list and the numbers of high-net-worth individuals are going up in Hyderabad, prompting luxury brands to take note. Industry insiders said Hyderabad is now snapping at the heels of Delhi and Mumbai and is a market to watch out for. “In 2012, we had only three entrants from Hyderabad on the…
