(Representative Image) Italian luxury group Prada is not looking at big acquisitions as it is focused on the brands it already owns, its Chief Executive Andrea Guerra said on Monday. In an earlier report, Marketing director, Bertelli shared “The Prada group is and will always be looking around for opportunities”. Prada was planning to invest…
Fears of a slowdown among Chinese shoppers have dogged the luxury industry for the better part of a year. Last week the scale of the problem hit home for one of fashion’s biggest but most exposed brands, Gucci. French group Kering SA saw $9 billion wiped off its market value after warning that sales of…
Italian luxury group Prada said on Thursday its 2023 net revenues rose 17% at constant exchange rates, driven by growth in Asia and the outstanding performance of its Miu Miu brand, and expects to outperform the market this year. The group’s net revenues totalled 4.7 billion euros ($5.1 billion) last year, broadly in line with…
Sales of used luxury items in India are soaring, reflecting the growing aspirations of young shoppers and consumers in tier-II and tier-III markets, and fuelling a previously untapped market. Despite signs of a slowdown in the global market for luxury goods, India’s Luxepolis, which claims to have an online user base of 3.5 million, recorded…
More than a dozen luxury consumer goods brands are entering the country ahead of the festive season, as they look to attract consumers in a market riding on the growing affluence of Indians with higher incomes, spurring greater discretionary spending even in small towns. The trend is being driven by increased exposure to global trends,…
