Luxury Goods
Luxury Goods explores the strategies, performance, and market trends defining the UK’s premium and high-end retail sector. This section covers brand innovation, consumer behaviour, store design, digital engagement, and sustainability within the luxury market. Retail Sector’s Luxury Goods coverage delivers insight for executives, brand managers, and suppliers seeking to understand how evolving tastes, global influences, and economic conditions shape growth and competitiveness across the luxury retail landscape.
-
Oct- 2023 -6 October
Pandora raises revenue guidance amid strong store sales
Pandora has upped its revenue guidance for the year to between DKK 34-36bn (£4.2-4.5bn) after seeing a spike in store sales. As part of its Phoenix strategy, Pandora plans to scale up its investments to accelerate revenue growth, brand desirability and store network. This will include building its position as…
Read More » -
Sep- 2023 -28 September
Paul and Shark flagship among Regent Street openings
The Crown Estate has leased its 2,500 sq ft retail space at 233 Regent Street to Paul and Shark. This comes after Spanish womenswear brand Bimba Y Lola opened a new 4,000 sq ft store at 211-213 Regent Street earlier this month on 9 September, carrying a curated edit of…
Read More » -
15 September
Johnstons of Elgin profits fall 15% in FY22
Scottish luxury cashmere retailer, Johnstons of Elgin, has revealed that its profit before tax dropped by 15.3% to £3.3m in FY22, down from £3.9m in the prior year. This is despite reporting “record” sales, which grew 26% on the previous year from £66.4m to £83.5m. According to the retailer, its…
Read More » -
Aug- 2023 -18 August
Tapestry sales falter amid waning demand in North America
Tapestry, the parent company of Coach, Kate Spade and Stuart Weitzman has reported that net sales were down slightly from $6.68bn (£5.25bn) in 2022 to $6.66bn (£5.24bn) for the year ended 1 July. This comes as waning demand among North American consumers led to a 2% revenue decline for the…
Read More » -
16 August
Axing tourist tax would ease high street woes, says Pandora boss
Pandora UK&I general manager Rasmus Brix has said that in light of the cost-of-living crisis and ongoing train strikes, eliminating the tourist tax would create a “significant boost” for the high street. Brix told The Mail the firm was “missing out” due to the absence of VAT-free shopping for visitors…
Read More » -
16 August
Sales boom at Oliver Proudlock’s male jewellery brand Serge DeNimes
* Jewellery loving stars such as Harry Styles and Formula 1 driver Lewis Hamilton are inspiring a new generation of men to accessorise with rings, bracelets and chains; * Former Made In Chelsea star Proudlock is creative director and founder of the brand and oversees four new collections a year…
Read More » -
11 August
Tapestry acquires Versace owner for $8.5bn
The owner of Coach, Kate Spade and Stuart Weitzman, Tapestry Inc, has announced its acquisition of Capri Holdings, a global luxury fashion group that consists of Versace, Jimmy Choo and Michael Kors for approximately $8.5bn (£6.6bn). This acquisition brings together six “highly complementary” brands with global reach on Tapestry’s customer…
Read More » -
10 August
Watches of Switzerland sees revenues drop to £382m
Watches of Switzerland has announced that its revenues dropped 1% to £382m, down from £391m in Q1 2023, for the 13 weeks ended 30 July 2023. The company stated that its revenue was in line with guidance, with its Q1 revenue primarily reflecting unwinding of the benefit of product intake…
Read More » -
4 August
Mulberry revenues up 4% in FY23 despite UK sales drop
The luxury handbag brand, Mulberry, has revealed that revenues increased 4% to £159.1m for the year ended 1 April, an increase from £152.4m recorded in 2022. While UK retail sales only reached £87.7m, after reaching £88.5m in the previous year, performance improved in the second half. The group attributed its…
Read More » -
Jul- 2023 -26 July
LVMH revenues up 15% for H1 2023
LVMH, the owner of Moët Hennessy Louis Vuitton, has posted revenues of €42.2bn (£36.2bn) for the first half of 2023, up 15%. The company’s overall organic revenue growth was up 17% compared with the same period in 2022. All of its business groups achieved double-digit organic revenue growth over the…
Read More »
