Luxury’s China worries are likely to continue — but there’s still growth to be found Zegna Group's revenue in China was down 22% in the third-quarter, echoing the problems of luxury companies from Burberry to LVMH. The Chinese luxury market, once one of the most reliable drivers of growth for the sector, is continuing to decline.
Week in Review: The return of the Victoria’s Secret Fashion Show This week, we talk about the return of the Victoria’s Secret Fashion Show and how it's changed in the six years it was on hiatus. Later, we discuss what’s causing so many luxury brands to report falling sales, and Jill gives us a dispatch from Shoptalk in Chicago.
Luxury Briefing: Luxury venture firm P180 wants to bring profitability back to fashion P180 is pitched as both a general investment company and as a way to connect brands and retailers with Caastle. Its first venture was investing in luxury retailer Elyse Walker in May followed by the announcement of its first brand investment in Altuzarra this week.
How New Balance’s ‘athlete-first’ approach to women’s sports partnerships is paying off While brands like Prada have embraced individual players like Caitlin Clark, New Balance has gone further, signing on to be a sponsor for the entire league in July. Naveen Lokesh, head of global sports marketing for basketball and football at New Balance, said part of the impetus for signing with...
As the luxury sector struggles, brands are refocusing on timelessness What’s driving this ongoing upheaval? Luxury experts told Glossy it’s because brand leaders are contending with the ongoing industry slowdown and looking for ways to shake their companies out of the funk that has affected the rest of the sector.
Return fees are unpopular with consumers — what are the alternatives? Charging for returns is a good way to dissuade people from abusing the return system and costing brands potentially millions of dollars a year, but it also has its downsides. Increasingly, brands are looking for alternative ways to reduce returns without charging return fees.
Week in Review: Luxury struggles and shakeups at Gucci, Mulberry On this week’s luxury-focused episode, we talk about Stefano Cantino being appointed the new CEO of Gucci and Kering's attempt to bring back sales growth at its biggest brand. Later, we talk about the ongoing saga around Mulberry, including the takeover bid from part-owner Frasers Group. And, finally, we discuss...
When should brand founders start taking salaries? With investment dollars drying up, new companies have much tighter budgets than startups enjoyed in the last decade, leading many founders to ponder a difficult question: At what point should you start taking a salary from the company you founded?
Mytheresa CEO Michael Kliger on YNAP acquisition: ‘Success will not come by saving costs’ It’s been an eventful year for luxury e-commerce. Farfetch was sold for pennies on the dollar to Coupang in April of this year after running into profitability issues. Matches Fashion suffered a similar fate, being purchased by Frasers Group in late 2023 only to be shuttered completely in March. And...