On Monday, November 22, Gucci hit the 3 million fan mark on Facebook. The Italian label may soon surpass Burberry, which boasts 3.2 million fans, as the most widely followed fashion brand on the social networking site. Gucci’s Facebook milestone follows hot on the heels of the announcement made by Burberry on November 19 that [...]
China’s ever increasing economic clout has again been reflected in a survey on consumer tastes in luxury goods which has shown the nation not only knows what goods it wants, it most certainly now has the means by which to buy them. A report released this week by Bain & Company has claimed China is [...]
Hermes rejected on Wednesday “an attack” on its capital by luxury goods giant LVMH, sounding the start of what could become a bitter battle for control of one of France’s most iconic brands. The head of LVMH, Bernard Arnault announced he had bought 17 percent of his rival Hermes, insisting that this does not herald [...]
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) [...]
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, [...]