Gucci‘s India manager Nader Wassel has quit the company, according to people in the know, exiting his role at the luxury brand at a time when its French parent, Kering, is implementing restructuring measures amid declining sales. Wassel, who also served as managing director of South Asia and the Pacific for Gucci’s watches and jewellery,…
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…
Saks Fifth Avenue parent HBC will acquire department-store chain Neiman Marcus in a $2.65-billion deal, the companies said on Thursday, giving them stronger negotiating power with vendors and greater ability to control costs. The deal comes with luxury retailers battling slowing demand as high interest rates and inflation force customers to crimp budgets, following a…
Representative image GENEVA: Swiss watchmakers are increasingly turning their sights towards India thanks to a new free trade agreement that is due to gradually open the doors for luxury timepiece exports. While some brands are already in the starting blocks, others are waiting to see whether India will become a new land of plenty. “India…
Luxury fashion brand Cartier, recently opened its second its boutique in Mumbai at Jio World Plaza. Through the years, India has become one of Maison’s key influences, helping inspire a new language through the exchange of design, craftsmanship, and stones. Expanding Cartier’s footprint in India is central to our global and regional growth strategy, Gaetan…
