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.
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Jul- 2023 -13 July
Watches of Switzerland profits jump 23% to £155m
Watches of Switzerland has posted a 23% increase in profits to £126m, up to £155m, for the year ended 30 April 2023. The increase comes amid a 25% increase in revenues to £1.5bn compared with £1.2bn in 2022. For the UK and Europe specifically the retailer posted revenues of £890m…
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6 July
Dune London partners with Reskinned on take-back scheme
Dune London has announced a partnership with clothing repair and resale company Reskinned on the launch of a take-back programme. The scheme, which was launched yesterday (5 July), allows customers to return pre-loved Dune London shoes in any condition and receive a voucher for up to £40 off their next…
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3 July
The Vampire’s Wife served winding up petition by HMRC
The Vampire’s Wife has been issued with a winding up petition from HMRC on Friday (30 June), according to filings from The Gazette, due to debt built up during the pandemic. The company, which was founded by designer Susie Cave, has a hearing set to take place at the Royal…
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3 July
Mulberry turns down Mike Ashley’s attempt to join board
Mulberry has reportedly rejected Mike Ashley’s efforts to join its board, according to The Times. It is understood that in recent weeks the Sports Direct founder has met the luxury handbag retailer’s executive team to attempt to join the boardroom. This comes as he “grew frustrated” about what he believes…
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May- 2023 -24 May
Barbour names UK&I managing director
Barbour has announced the promotion of Paul Wilkinson, the brand’s global marketing, commercial and managing director in the US, as the new managing director for the UK and Ireland, according to Drapers. Wilkinson replaces Ryan Llewellyn-Pace, who departed the brand earlier this March. According to Drapers, Llewellyn-Pace will be heading…
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22 May
LK Bennett profits hit £30m amid spike in eventwear sales
LK Bennett has reported a 40% rise in its gross profit for the year ended January 2023 to over £30m, thanks to an increase in eventwear sales, according to Drapers. During the 12 months to January, the brand’s turnover stood at £49m, which means a 30% increase on the previous…
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19 May
Farfetch falls to £140m loss in Q1
Luxury fashion platform Farfetch revealed a loss after tax of $174m (£140m) for the first quarter ended 31 March 2023, despite its revenue increasing by 8% year-over-year to $556.4m (£448.4m) in the same period. While the group’s digital platform gross merchandise value (GMV) decreased by 1% year-over-year to $799m (£643m),…
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17 May
Watches of Switzerland revenues hit £1.5bn in FY23
Watches of Switzerland has revealed that the group’s revenues reached £1.5bn for the year ending 30 April, as its UK and Europe revenue increased by 10% to £890m. This comes as its luxury watch revenue rose 28%, driven by increases in average selling price and volume, while luxury jewellery and…
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11 May
Slowear appoints former Gucci VP as CEO
Italian fashion retailer Slowear has announced the appointment of Piero Braga, the former executive vice-president of Gucci, as its new chief executive officer. In addition to appointing a new CEO, the group also announced new board members. Paolo Ferring joins as chairman, while Giorgio Delpiano, an executive at Shell, and…
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Apr- 2023 -24 April
Kering set to pay £13m rent for Bond Street store
Luxury retailer Kering is set to pay £13m or more per year for a new Yves Saint Lauren store on Bond Street, according to the Sunday Times. This figure of £13m is thought to be a UK record surpassing the £11m paid by Ralph Lauren for its Bond Street store…
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