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Luxury news and archive

Fendi to relaunch luxury homeware in new joint venture

Fendi Casa, the luxury furniture and homeware division of the renowned Italian maison, is set to relaunch in partnership with Design Holding, an Italian design group whose other brands include high-end furniture and lighting makers such as B&B Italia and Louis Poulson. Fendi, which is part of the LVMH Group, will launch a joint venture with...

4 May 2021

Business

Walpole publishes first sustainability report of UK luxury companies

Walpole, the trade body that represents British luxury companies, has published a sustainability report following up to its one year manifesto. In January 2020 Walpole launched its sustainability manifesto with the aim empower its client’s businesses towards a net carbon and zero waste future, supported by strategic partner McKinsey & Company....

31 Mar 2021

Podcast

Luxury Market Recovery in Asia Pacific

This month’s Fashion Friday podcast series by Euromonitor International analyses the drivers of the recovery of the Asian luxury market, with examples of brands putting extra effort into expansion in the Asia Pacific region. Under COVID-19, the global luxury market shrunk by 15%. However, in the Asia Pacific, stronger resilience, where the...

5 Mar 2021

Business

US to suspend retaliatory tariffs on UK luxury for four months

A joint announcement from the new US administration and the UK Government on Thursday said the US will suspend retaliatory tariffs on British luxury for four months. This will temporarily halt the 25 percent tax hike on items like cashmere, wool, tailoring, bed linen and single-malt whisky. Walpole, the UK trade body representing British luxury...

5 Mar 2021

Retail

Walpole and Global Blue share implications of tax free shopping restrictions

Since January 1st tax-free shopping in the UK is no longer a lure for high net worth travellers with a passion for shopping. Luxury brands and retailers, despite lobbying the government with the support of many notable UK businesses and leading industry voices, have not been successful to reverse the decision which sees international customers...

18 Jan 2021

Business

U.S. suspends tariffs on French luxury items over digital services tax

The United States has scrapped a new tariff on French goods in retaliation for a digital services tax. Goods including cosmetics, handbags and luxury items would have been subject to a 25 percent import tax. The U.S. is investigating the digital tax which it says could harm its native tech companies. Many European nations view a digital service...

8 Jan 2021

Fashion

Turning purses into pounds: The investment value of fashion

Investing in fashion may bring higher returns than a savings account, as new data shows. And it is not just exotic-skinned Birkin bags which could yield a mighty profit. An investment study by Raisin, a savings marketplace, reveals trainers, handbags and watches are some of the world’s biggest money-makers. The study revealed the price increase...

15 Dec 2020

Fashion

'Love Letters from Britain': Walpole launches film series with BBC

A new series of short films will delve into the hearts and heritage of British luxury brands and made available on the BBC.com platform. A partnership between BBC StoryWorks and luxury trade body Walpole will promote British brands via a digital-first and unique series on British luxury. Called ‘Love Letters From Britain’, BBC StoryWorks will...

15 Dec 2020

Fashion

Transparency in Luxury, Do We Really Want It?

Generation Z is having a profound effect on how fashion brands engage with their customers. They prefer shopping brands that share common values. And they are demanding more transparency from brands regarding material sourcing, pricing, environmental impact and labor practices, in order to make purchase decisions. You can also listen to this...

15 Dec 2020

Podcast

Luxury Challenged by Generational Demands

Generation Z is having a profound effect on how fashion brands engage with their customers. They prefer brands that take a stand on social justice and political issues; topics which brands have typically avoided. What’s more, luxury brands have always been in the business of creating an escape from the real world, creating products that are more...

15 Dec 2020

Business

UK seeks post-Brexit trade deal with US

The UK has announced a new approach to US tariffs, ending the longest trade dispute in history. Tension surrounding the Boeing Airbus dispute escalated with the US raising import tax on British luxury goods, including cashmere, wool and linen products following the World Trade Organisation ruling that the US could punish European countries for...

10 Dec 2020

Fashion

Italy's national chamber of fashion joins forces with luxury body Altagamma

Italy’s National Chamber of Italian Fashion (CNMI) has joined forces with the country’s luxury body Altagamma, Italy’s foundation to promote high-end Italian luxury, including the fields of design, fashion and jewellery. The partnership coincides with CNMI president Carlo Capasa taking on the role of Vice President of Altagamma’s fashion sector....

4 Dec 2020