luxury sector news and archive

Prada results underscore weaker luxury demand

Miu Miu is having a moment. The brand claimed the number one spot on Lyst’s Q2 Hottest Brands Index, with Prada landing just a few places behind in fourth. But while the buzz is real, fuelled by clever styling, viral looks, and a steady stream of celebrity endorsements, it only tells part of the story. Scratch beneath the surface, and Prada...

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Chanel charts a new course amid luxury sector slowdown

Chanel, long seen as a bellwether of the global luxury market, reported a 4.5 per cent decline in sales for 2024, falling to 18.7bn dollars, as economic pressures and shifting consumer behaviour weighed on the industry. Operating profit fell more sharply, down 28.2 per cent to 4.5bn dollars, according to results released on Tuesday. The downturn...

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British luxury sector has grown 49 percent in four years

Walpole, the trade body for the British luxury sector that counts more than 250 brands including Alexander McQueen, Harrods and Burberry as members, has stated that the sales across the British luxury sector has grown by 49 percent in the four years from 2013 to 2017. According to Walpole’s new research the British luxury sector is now worth 48...