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, [...]
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 [...]
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 [...]
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 [...]