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European luxury: A new report reveals the challenges and growth prospects

European premium and luxury brands represent 5 percent of European GDP, or 986 billion euros. This figure, from a new report by the European Cultural and Creative Industries Alliance (ECCIA), in collaboration with the Comité Colbert and Bain & Company, is up 1 percent compared to 2018. While its evolution demonstrates growth dynamics, the...

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Prada admits Kolhapuri inspiration, proposes co-branding discussions with MACCIA

Luxury fashion house Prada has officially confirmed in a letter sent to the Maharashtra Chamber of Commerce, Industry and Agriculture (MACCIA), that sandals showcased in its recent men’s fashion show, which bore a striking resemblance to the traditional Indian Kolhapuri sandal, were indeed inspired by the iconic footwear. Prada has now proposed...

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Watches of Switzerland Group FY25 revenue rises amidst US growth

Watches of Switzerland Group PLC has reported a revenue of 1.7 billion pounds for the 52 weeks ended April 27, 2025, marking an 8 percent increase year-on-year at constant currency, with 16 percent growth in the US and 2 percent in the UK. This performance was significantly bolstered by an improved trading performance in the second half of the...

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Armani Group: Net revenues down 5 percent in FY 2024

Consolidated net revenues of the Armani Group amounted to 2.3 billion euros, a decrease of 5 percent compared to the previous year at constant exchange rates (down 6 percent at current exchange rates). The decline in direct retail revenues was 3 percent at current exchange rates "despite various temporary closures for renovations." "In an...

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