Burberry crossed a social media threshold this week: earning two million fans on Facebook. The British company has invested heavily in its online platforms and digital marketing strategy and has quickly risen to become luxury’s digital darling. Burberry regularly posts product announcements, photos, and even acoustic performances on the social networking site.
New York-based Luxury Lab has released its second annual Digital IQ Index of Luxury Brands. The study quantifies the digital competence of 72 global luxury brands by accessing brand websites, digital marketing strategies, social media initiatives and mobile applications. The Luxury Brands that ranked at the top of this year’s Index were Coach, Ralph Lauren, … Continued
Polo Ralph Lauren has announced that it will further extend its e-commerce reach with the launch of Ralphlauren.com in the UK. After the success of Ralph Lauren’s US e-boutique, launched in 2000, the company has decided to roll out a British version on October 14. The site will offer a full assortment of clothing and … Continued
Champagne corks are popping again in the luxury business as “It” bags and expensive watches this year sell like hotcakes from Beijing to New York, signalling the turning of a page after the global financial crisis. As the owner of Gucci and Yves Saint Laurent, French luxury goods giant PPR, on Friday joined a string … Continued
There are limits to how far a luxury company can diversify its operations without diluting its brand or confusing consumers, experts said this week. A jeweler might successfully launch a perfume but a handbag maker might not and it is easier for a jeweler to look credible producing watches than it is venturing into making … Continued
Luxury groups are finally warming to the Internet, lured by surging sales and a wider audience for their brands, though lingering suspicions could limit the level of online penetration compared with the wider retail sector. High-end brands have been slow to embrace the Web, worried that universal access will destroy their aura of exclusivity and … Continued
The luxury goods market is rebounding from the slump caused by the global recession, but analysts say upscale sellers will be facing a hard slog due to changing demographics and lingering consumer caution. Global luxury goods industry sales are expected to grow four percent in 2010 to 158 billion euros (195 billion dollars) after a … Continued
In case you missed them the first time around, here are some of LUXUOâ€™s top posts for the week of May 3-9. 1 – Louis Vuitton IPad Cases Adding further case options for the iPad, Louis Vuitton unveil a couple of upcoming sleeve designs, specifically created for Appleâ€™s latest hot shot gadget. 2 – The … Continued
According to a study compiled by market research firm Millward Brown Optimor, the most valuable brand is Louis Vuitton with a brand value of $19.8 billion. Hermes, with a brand value of $8.45 billion, landed in the second spot, followed by Gucci ($7.58 billion), Chanel ($5.54 billion) and Hennessy ($5.36 billion). Brands that focused on … Continued
Designer denim used to be the go-to strategy of luxury labels to lure in new customers, but now it seems as if trainers are the new jeans. While brands like Dior, Hugo Boss, and LV have long been in the market of men’s designer trainers – with the latter’s collaboration with rapper Kanye West selling … Continued
Prospects for Italy’s luxury goods sector are looking up thanks to strong sales forecasts in Asia, Latin America and the Middle East. Sales are expected to grow throughout the world – with the exception of Japan – and across all luxury product categories in 2010, the Altagamma Foundation said. “These last two difficult years have … Continued
By most measures, the self-styled “Chinese Riviera” on Hainan Island has a long way to go before catching up to Cannes, St. Tropez or Nice. But the organizers of Hainan Rendez-Vous at the island’s Sanya resort did their part to boost the area’s image this past weekend, hosting an extravaganza of private jets, vintage and … Continued
Global luxury giant Richemont said on Thursday it was buying up a pioneering 10-year-old web-based women’s fashion retailer, Net-a-Porter, founded by a former editor and valued at 350 million pounds. The Swiss group already owns one third of the business, which was created by former fashion journalist Natalie Massenet and employs 600 staff in London … Continued
CNN posted an interesting video today about the growing number of mainland Chinese shoppers flocking to Hong Kong to buy luxury goods, much to the enjoyment of Hong Kong retailers and international luxury brands alike.
Spanish retailer Zara tops this week’s ranking of most popular Facebook fashion brands, followed by Swedish ‘arch rival,’ H&M.
Chanel is to begin selling products directly through its website later this year in a landmark decision likely to be followed by rival luxury brands. Chanel will sell only its fragrances online but is looking to extend this to eyewear and accessories. In the past, luxury fashion brands have shied away from selling goods via … Continued
A marketing company called Stylophane has developed a new index that ranks brands by Facebook followers, with its list highlighting the popularity of sportswear brands in comparison to luxe brands including Burberry and Gucci. The top five of Stylophane’s Facebook Fashion Index are dominated by sportswear brands Adidas, Nike, Puma, and Lacoste (in descending order), … Continued
Wang Jing was all smiles as she strolled out of a Cartier boutique in Singapore after blowing close to 5,000 US dollars on a watch and a ring. “It’s something I have always wanted, and besides, the economy isn’t looking too bad at the moment,” the Chinese tourist in her early 30s, in Singapore for … Continued
For the man who has everything except that perfect alligator skin jacket, he need only visit Hermes’ newly opened boutique on Madison Avenue in New York, where the snappy garment sells for 158,000 dollars.
Despite the economic crisis, 2009 ended better than it began for the French luxury goods sector, thanks largely to China’s growing taste for high-end products, encouraging thoughts of a better 2010. Following the trend set by other global luxury brands, Hermes and LVMH announced fourth quarter sales growth on Thursday and Friday, suggesting the worst … Continued