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…
Sales updates from Europe’s big luxury brands have offered scant reassurance that Chinese demand for high-end fashion is recovering, leaving a cloud over the outlook for the industry. Warning on Tuesday that its first half profit would drop steeply, Kering flagged low demand in Asia, and China in particular, in addition to its struggles to…
Representative image New Delhi: High streets emerged as the top choice for luxury brands in India’s top eight cities in 2023, according to a report by CBRE South Asia released on Wednesday. The eight cities tracked for leasing include Delhi-NCR, Mumbai, Bangalore, Kolkata, Pune, Ahmedabad, Chennai and Hyderabad. High Streets constituted about 45 per cent…
Representative image India matters, and all over the world, luxury brands are looking at India, says Bénédicte Epinay, CEO of Comité Colbert, the official luxury association of France that represents 93 luxury brands and behemoths such as LVMH, Chanel and Kering. “Is India the next promising market? There are obstacles such as custom duties and…
