Deloitte’s annual Global Powers of Luxury Goods ranking sees LVMH, Richemont and Estée Lauder retain their places at the top of the list.
Following a lawsuit filed August 2012, luxury conglomerate Richemont last week won a $100m default judgement against counterfeit selling websites.
Luxury Swiss retail giant Richemont, owner of such brands as Cartier, Piaget and Jaeger-LeCoultre, is to open the world’s largest shop for luxury watches in Paris. Business Montres quoted an internal memo saying a three-storey 2,200 square metre (24,000 square foot) shop would open early 2013. The shop would take over the premises of the … Continued
They may now not have a formal home but the people at Hong Kong’s Shanghai Tang brand are still making consumers sit up and take notice. After 17 years at the Pedder Building in Central, Shanghai Tang lost the bid for the space to Abercrombie & Fitch, which will pay two and half times the … Continued
Watchmakers gave upbeat forecasts for 2011 at the industry’s largest fair on Wednesday, although the deadly earthquake which hit key luxury consuming country Japan and Arab uprisings cast shadows over the expectations. Industry giants including Swatch and LVMH have all posted strong recoveries over 2010 and they are expecting the recovery to continue in 2011. … Continued
The tastes of China’s wealthy are shifting away from designer goods with flashy logos to more understated luxury brands, the chief executive of French fashion house Chloe said Friday. That shift has helped Chloe become one of the Swiss luxury goods company Richemont Group‘s fastest-growing labels in China, its CEO said. “China has been very … Continued
Mont Blanc starts off 2011 with a limited edition variant of their Time Walker timepiece which is set to be presented during the SIHH event. The watch is encased in blacked-out DLC-coated stainless steel and features a Flyback Chronograph which is powered by a 36 jewel Swiss Automatic movement developed for Montblanc via Richemont’s ValFleurier. … Continued
The new Ralph Lauren Sporting Watch draws its inspirations from Ralph Lauren’s antique car, the 1938 Bugatti Type 57SC Atlantic coupe. The watch’s aesthetics combine the luxurious wood finish of the Bugatti with a matte black dial, all of which are reminiscent of the car’s interior. Arabic numerals for increased legibility, arrow-shaped hour and minute … Continued
Online designer store Net-Ã -Porter has finally confirmed the launch of a men’s division: Mr Porter will open in January, but you can already register online. The site will launch for the S/S 2011 season, with an edited line-up which includes global designer labels and niche brands, as well as editorial and style advice. Mr. Porter … 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
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
China may become the world’s biggest luxury market in some years but cultural challenges to win customers’ hearts for certain types of products remain, industry executives said this week. Champagne house Taittinger said it could make high-end sparkling wine in China but the market was not ready for it yet… … while Lamborghini said the … Continued