Luxury news and archive

Pre-owned watch market normalises after the speculative boom

Zurich – The frenzied demand for pre-owned watches has subsided, but the market continues to organise itself and grow faster than that of new watches, according to a study published on Thursday by Deloitte. The pre-owned watch market had accelerated in the wake of the Covid-19 pandemic before experiencing a sharp reversal, but remains poised for...

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Luxury industry faces headwinds: Pessimism grows amid economic pressures

After years of exceptional growth fueled by surging demand, price increases, and the dominance of megabrands, the luxury industry is facing a significant slowdown. Between 2019 and 2023, the sector achieved a 5 percent annual growth rate, driven by record profitability and strong performance in China, but by 2025, macroeconomic headwinds and...

Fashion Featured

Meta abandons fact-checkers in push for 'more speech, fewer mistakes'

Meta's decision to abandon third-party fact-checking for ambiguous content marks a significant departure in social media content moderation, with potentially far-reaching implications for fashion and luxury brands' digital strategies. The move, coinciding with Donald Trump's return to the presidency, represents Meta's most substantial revision...

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10 essential soft skills for a career in the fashion and luxury industry

It's a fact: competition is intense and expectations are high in the luxury and fashion industry. A successful career in these sectors requires both technical skills and interpersonal competencies. “Soft skills” play a key role in the ability to build relationships, innovate, and meet the needs of a demanding clientele. Here are our top 10...

Fashion |Opinion Featured

Kapital sale to LVMH raises stakes for artisanal fashion independence

LVMH-backed L Catterton's acquisition of Kapital, a Japanese clothing brand celebrated for its artisanal denim and Americana-inspired designs that was founded in the 1980s, has sparked concerns among enthusiasts and industry observers. The acquisition, finalised in the second half of 2024 according to High Snobiety, came just months after...

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Rolex's latest price increase signals industry-wide cost pressures

Rolex's latest price increases, reaching up to 8 percent on some models, signal a broader industry challenge as precious metal costs continue to pressure luxury watchmakers' margins. The move comes as gold prices maintain their upward trajectory, forcing high-end watch and jewellery manufacturers to reassess their pricing strategies. Last year...

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A deep dive into industry's top performers of 2024

The global apparel industry, worth a staggering 1.79 trillion dollars, stands as one of the most vibrant and fiercely competitive sectors in the global economy. In 2024, the landscape has been shaped by a fascinating interplay of luxury powerhouses, fast fashion trailblazers, and athleisure innovators, each rewriting the rules of success. But...

Fashion Featured

Will luxury's musical chairs continue in 2025?

The luxury industry is in flux, grappling with shifting consumer preferences, economic pressures, and a pronounced slowdown in growth. For many houses, 2024 is not ending on a high note. Sales growth, once propelled by logo-laden accessories and high-visibility branding, is losing momentum as younger, more discerning shoppers increasingly favour...

Retail

Luxury Western goods line Russian stores, three years into sanctions

Despite a barrage of Western sanctions and swathes of brands quitting Russia after the Kremlin launched its Ukraine offensive, Moscow's most well-off shoppers are still spoilt for choice when it comes to luxury Western goods. In the Russian capital's exclusive shopping quarters, department stores and high-end Russian outlets are doing a roaring...

Fashion Featured

The 2025 luxury market outlook

As we approach 2025, the luxury market faces significant challenges that could reshape its trajectory. A mix of economic, political, and consumer-driven factors are likely to influence demand, innovation, and growth in this highly competitive sector. Market uncertainty The global luxury industry is navigating a period of considerable economic...

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LVMH invests in experiential luxury with 50m euro villa in Cannes

The world's largest luxury goods conglomerate has made a strategic move into premium real estate on the French Riviera, underscoring a broader trend of high-end brands investing in experiential marketing assets. LVMH has acquired a historic 12-bedroom villa in Cannes for 46.5 million euros, according to Bloomberg, in what represents one of the...

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What's happening in China, the country that has investors so worried?

China, the world's second-largest economy, is at a turning point as leaders announce monetary easing scheduled for 2025. The aim is to revive an economy that has been reeling from a prolonged crisis marked by weak consumption and growing concerns about deflation. The decision is part of a series of measures aimed at boosting consumption,...