Agenda-setting intelligence, analysis and advice for the global fashion community.
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.
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This week, Kering flagged sales were down 20 percent at its flagship brand, knocking confidence in the group’s turnaround strategy. ‘A more drastic solution is required,’ one analyst wrote.
Kering’s first-quarter revenues will likely decline by 10 percent on a comparable basis, the Paris-based luxury group flagged on Tuesday.
Despite the country’s protracted property crisis, deflationary pressures and other economic headwinds, its domestic luxury market is expected to grow 4 to 6 percent in 2024, outpacing both Europe and the US.
Saks is moving towards exiting bankruptcy and tapped an additional $300 million of its Chapter 11 financing package.
War in the Middle East, the luxury industry’s fastest-growing market, threatens to delay a long-expected rebound in demand.
Beauty brands must rethink upselling with smarter value plays, from curated bundles to jumbo sizes and subscriptions, to keep their customers from switching to the competition.
Check out this week’s new partner and job openings on BoF Careers, the global marketplace for fashion and beauty talent.