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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Nov- 2022 -16 November
Richemont sees sales surge but performance hampered by YNAP loss
Luxury jewellery retailer Richemont has reported strong sales and profit increase for the first half of the year but the performance was overshadowed by the impact of its disposal of Yoox-net-a-Porter (YNAP) The company, which owns brands such as Cartier and IWC Schaffhausen, made nearly €9.7bn (£8.5bn) this half year…
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16 November
Estée Lauder to acquire Tom Ford in $2.8bn deal
The Estée Lauder Companies (ELC) has announced it is set to acquire luxury brand Tom Ford in a deal that values the company at $2.8bn (£2.35bn). The deal will establish its longstanding partner as the sole owner of the Tom Ford brand and all its intellectual property. Under the stewardship…
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Aug- 2022 -23 August
Mulberry chairman Godfrey Davis to step down
Mulberry has announced that its chairman, Godfrey Davis, intends to step down from the board of directors on 30 September 2022. The board said it would “like to put on record” its thanks for his outstanding contribution. Davis has been with the company since joining in 1987, first as a…
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15 August
Harrods threatens to replace strikers with agency staff
Harrods has reportedly threatened to use new laws to break possible strikes by using temporary workers from agencies if industrial action persists, Unite has warned. First reported by the Daily Mirror, the luxury retailer is said to have sent a letter to staff working in store services, engineering, maintenance and…
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Jul- 2022 -7 July
Watches of Switzerland hits ‘record’ sales of £1.24bn
Watches of Switzerland has delivered “record” sales in FY22, with revenues up 40% to £1.24bn in the year ending 1 May 2022, with UK revenue up by 36% to £810m. Adjusted EBITDA also jumped 54% to £162m as the group saw continued strong demand for luxury watches and luxury jewellery.…
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Jun- 2022 -14 June
Zalando acquires majority stake in Highsnobiety
Zalando has announced the acquisition of a majority stake in Highsnobiety, the “influential” global fashion and lifestyle media brand. Highsnobiety will reportedly act as a strategic and creative consultant to Zalando following the move, and founder and CEO, David Fischer, will retain a minority stake in the business. The two…
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May- 2022 -18 May
Watches of Switzerland hails record revenues of £1.23bn
The Watches of Switzerland Group has reported its group revenues surged 40% year-on-year from £905m to £1.23bn in the 53 weeks ending 1 May 2022 (FY22), marking a “record” year of revenue and profitability. All in all, UK revenues were up 36% to £810m and US revenues were up 48%…
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18 May
Burberry lowers FY23 forecast despite record revenues
Burberry has lowered its FY23 forecast as it expects a currency tailwind of £159m on revenues and £92m on adjusted operating profit, despite hailing record revenues in FY22. The group announced revenues surged 21% year-on-year from £2.34bn to £2.82bn for the 53 weeks ending 2 April 2022, against a backdrop…
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Apr- 2022 -22 April
Cheshire Oaks and Swindon designer outlets sold for £600m
LaSalle Investment Management, the global real estate investment manager, has acquired McArthurGlen Designer Outlet Cheshire Oaks and McArthurGlen Designer Outlet Swindon for a total sum of £600m from Nuveen Real Estate. The investment was made through LaSalle’s growing Value-Add Investments business line. However, the assets will continue to be managed…
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21 April
Hugo Boss to launch premium resale platform
Hugo Boss is set to launch its premium resale platform in the third quarter of 2022 where customers can buy pre-owned items. It will first be launched in France, with the platform planned to expand to Germany, the UK, and the US in 2025. The platform, ‘Hugo Boss Pre-Loved’ will…
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