Tag Archives: luxury brands

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LVMH Takes Minority Stake in Hermès

Luxury conglomerate LVMH said Saturday it had taken a 14.2 percent stake in Hermes but denied it wanted to take over the French luxury goods firm.

The company controlled by French businessman Bernard Arnault said it wanted to boost the stake to 17.1 percent at a total cost of 1.45 billion euros (two billion dollars) but was not seeking even representation on the Hermes board.

The move makes LVMH the largest Hermes shareholder after the heirs to the family share of around 70 percent.

There has been speculation about the future of Hermes, known for its fine leather goods and silk scarves, since the death of its charismatic head Jean-Louis Dumas.
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Burberry reaches two million fans on Facebook

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.
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Ranked: Most digitally intelligent luxury brands

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, Louis Vuitton, Gucci, Hugo Boss and Burberry respectively.

Coach received accolades for its buzz-worthy Poppy Project which connected 468 blogs and their readers through a web of poppies. Like a public art show, with each hashtag tweet on Twitter the poppies grew.

Ralph Lauren got brownie points for developing a stellar, easy-to-navigate mobile application as well as a shoppable children’s video storybook.

Gucci made a splash when it launched its digital flagship this fall and debuted GucciConnect to complement its Spring/Summer 2011 show in Milan.

More than simply eyeing the catwalk, e-ticket holders for the virtual event were given the unique experience of going to a show and could even stream live videos of themselves.

And Burberry became luxury’s digital darling after it launched its website artofthetrench.com.

Scott Schuman of influential fashion blog The Sartorialist teamed up with Facebook to create a social networking fashion blog centered solely around the iconic Burberry trench coat. Like on Facebook, visitors can “like” or “leave a comment” and “share” each image.

According to Scott Galloway, founder of Luxury Lab, the “combination of the economic crisis, the emergence of a more digitally native Gen Y consumer, and several brands getting huge ROI– sales and press — due to digital leadership, inspired a massive investment in both human and financial capital in digital in 2010.”

Companies are becoming increasingly engaged in what Luxury Lab calls a “virtual arms race to acquire fans and followers online.”

More than 90 percent of the luxury retailers in the 2010 Index count maintain a Facebook page. And half of the 72 global luxury brands in the Index have a presence on Twitter and YouTube (up from 17 and 26%  respectively in 2009).

Luxury brands that fared the worst on the 2010 Digital IQ Index were mainly fine watch and jewelry retailers. Brands like Rolex, Chopard and Cartier have largely ignored social media outlets.

None of the three brands are on Twitter and they have a limited engagement and user following on Facebook.

Source: AFPrelaxnews – To view the 2010 Luxury Lab Index visit L2thinktank.com

Top Ten Luxury Brands with the highest digital IQ
(as ranked by Luxury Lab)

1. Coach
2. Ralph Lauren
3. Louis Vuitton
4. Gucci
5. Hugo Boss
6. Burberry
7. Dolce & Gabbana
8. Giorgio Armani
9. Swarovski
10. Tiffany

Two more luxury labels launch e-boutiques

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 accessories for men, women and children, in addition to a full array of home products.
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Champagne corks popping again in luxury business

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 of high-end brands reporting ballooning 2010 profits, firms and consultants predicted rosy days ahead for luxury goods.

“The recession’s starting to look like an old memory for the luxury industry,” said analyst Matthew Curtin, quoted by Dow Jones Newswires.

PPR chief executive Francois-Henri Pinault said of the group’s doubled first half net profits, “very good results … in an economic environment that remains hesitant.”
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Luxury brand diversification does have limits

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 handbags, they said.
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Luxury brands warming to the Web

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 wary of a medium which has also fueled a proliferation in the trade of counterfeit goods.

But executives and analysts at the Reuters Global Luxury Summit this week suggest attitudes are starting to change as shoppers show a willingness to buy even the most expensive products from the convenience of their homes.
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Luxury market rebounding

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 painful 8.0 percent decline in 2009, according to the consulting firm Bain & Company.
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This Week’s Top Stories (May 3-9, 2010)

In case you missed them the first time around, here are some of LUXUO’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 Apple’s latest hot shot gadget.

2 – The Armani Hotel in Burj Khalifa

Designed by Giorgio Armani himself, the world famous fashion designer, every aspect of the Armani Hotel Dubai has been carefully conceived.

3 – Denmark’s Noma Named Best Restaurant in the World

Copenhagen’s two-starred Michelin restaurant Noma has been awarded the title of world’s best restaurant at the San Pelligrino Top 50 Awards.

4 – World’s Most Powerful Luxury Brands

According to this year’s BrandZ Top 100 report, French luxury conglomerate Louis Vuitton is still in the top spot.

5 – The Mercedes-Benz Style EC145 Luxury Helicopter

Mercedes-Benz and Eurocopter have joined hands to unveil the Mercedes-Benz Style EC145 luxury helicopter.

6 – Louis Vuitton wins the World Cup

The World Cup trophy will be carried in a custom-made Louis Vuitton trunk before it is presented to the winning team in South Africa in July.

7 – Will Harrods open in Shanghai?

World’s icon store Harrods, which recently changed hands to Arab royals is planning for the first time in its 150 years history to open an overseas branch.

8 – Rolls-Royce Ghost for iPhone

Rolls-Royce Motor Cars said its first app for the iPhone is now available at the App Store. The app allows you to configure your own Ghost, Rolls’ newest model.

9 – Aston Martin V12 Vantage Headed to U.S.

Aston Martin’s CEO, Dr. Ulrich Bez, has announced the V12 Vantage will finally be offered to American consumers.

10 – Anemone Barbie by Christian Louboutin

The last of the three limited edition Christian Louboutin Barbie dolls has arrived at Net-a-Porter, the third doll is styled to be at the Cannes Film Festival.

World’s Most Powerful Luxury Brands

louis vuitton store sign

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 heritage and history instead of high fashion did better.
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Luxury brands are looking to trainers for new business

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 out in no time last year – women’s counterparts are just now gaining momentum.

Lanvin and Pierre Hardy launched successful ranges, Gucci inuagurated its Icon Temporary pop-up store in London last week to promote its new line of sneakers designed by hip music producer Mark Ronson.
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Outlook brightens for Italian luxury sector

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 spurred high-end companies to focus on consumers, to concentrate on their core business, and to further invest energy and resources on product design and innovation,” said Altagamma chairman Santo Versace, president of the Gianni Versace fashion house.

The global financial crisis severely dampened sales of luxury goods throughout 2009 as consumers postponed purchases or traded down for cheaper alternatives
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China’s Premiere Luxury Lifestyle Show in Hainan

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 top-end autos, luxury properties and giant yachts.

The first edition of the Hainan Rendez-Vous attracted last week end over 5,600 visitors during the three-day event which featured more than 150 exhibitors.

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Richemont Buys Net-a-Porter

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 and New York.

The deal will turn the website into one of the luxury goods company’s hallmark “maisons,” alongside standalone brands such as Cartier, Dunhill, IWC, Piaget and Van Cleef & Arpels.

Massenet will remain as chief executive and will invest in a Richemont unit being created to own the online business, the Swiss group said in a statement.
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Chanel to sell goods online

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 the web, but some industry figures believe 2010 could be a ‘watershed’.
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Sportswear tops luxury on Facebook

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), with Swedish fast fashion retailer H&M — in third place — being the only exception.

It is not until spot six that high-fashion labels are mentioned, with social media forerunner Burberry leading the pack, followed by Chanel (8) and Gucci (9).
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Luxury brands turn to Asia for salvation

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 a four-day spree, said.

“There’s no reason for me to hold back,” she said with a laugh that is music to the ears of the global luxury goods industry.

From diamonds to designer tea, high-end retailers battered by financial turmoil in the United States, Europe and Japan are now looking to China, India and other developing Asian nations for salvation.
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