Luxury Goods
The latest news, updates and analysis on the luxury goods segment of the the UK retail industry. Sign up to the Daily Briefing and let Retail Sector’s business journalists keep you in the picture.
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Jan- 2022 -21 January
Hugo Boss hails 51% rise in sales amid ‘record’ quarter
Hugo Boss has reported its revenues increased year-on-year by 51% to €906m (£757m) in the fourth-quarter (Q4) of 2021, with sales up 55%. The revenue is a 12% increase from pre-pandemic levels, making Q4 FY21 “the most successful one in Hugo Boss’ history”. The company’s pre-tax profits for the full…
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19 January
Burberry sees recovery with profits rising to £723m
Burberry Group plc has increased its operating profit expectations to grow by 35%, following a 5% increase in revenue to £723m in the 13 weeks ending 25 December 2021 (Q3 FY22), compared to £688m for the same period in 2020 (FY21). Full-price sales surged in the third quarter, increasing 26%…
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Dec- 2021 -7 December
Harrods launches new partnership with Klarna
Luxury retailer Harrods has announced a new partnership with Klarna, a global retail bank, in a bid to offer customers more “flexible” and “convenient” payment options. Harrods UK will allow shoppers to use Klarna’s Pay in three payment options for beauty purchases in Harrods Beauty Hall, as well as across…
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Nov- 2021 -11 November
Burberry recovers as revenues return to pre-covid levels
Burberry has reported operating profits of £196m, an increase of nearly four times the figure of the same time last year for the 26 week period ending 25 September. The luxury retailer said it is “comfortable” with current year market expectations after seeing its revenues for the first half of…
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8 November
Burberry builds on climate commitment with new biodiversity strategy
Burberry has announced its biodiversity strategy to support global conservation efforts, adding it will “take action to protect, restore and regenerate nature, helping to slow further global warming”. It revealed its biodiversity strategy encompasses three focus areas: protecting and restoring nature within Burberry’s own value chain; expanding support for farming…
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Oct- 2021 -20 October
Burberry appoints new CEO
Burberry has announced the appointment of Jonathan Akeroyd as its newest CEO and executive director, effective 1 April 2022. He will succeed Marco Gobbetti who will step down from the role and leave the company on 31 December 2021. Akeroyd is currently the CEO of Milan-based Gianni Versace SpA, a…
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19 October
Welsh brand Au Vodka tops list of UK’s fastest growing online companies
A world-leading Retail Operating System has curated a list of the 50 fastest growing e-commerce brands of the ‘pandemic era’, with Swansea-based luxury alcohol brand, Au Vodka, coming out on top. The list, titled the Lightning 50, tracked growth across brands to rank the UK’s 50 fastest growing e-commerce companies…
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19 October
Au Vodka reveals gold standard for success after being crowned Winner in Brightpearl’s Lightning 50
Key facts Lightning 50 Overall Winner, plus Regional Winner in Wales and Winner in the Luxury Sector 10,000% YoY growth £5 million expected revenue in 2021 “We’re thrilled to have won not one but three titles in the Lightning 50” – Jordan Major, Head of e-Commerce, Au Vodka Endorsed by…
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13 October
LVMH sees revenues up 46% to €44bn
Luxury fashion house LVMH has reported a 46% increase in group revenues for the first nine months of the year to €44bn (£37.4bn). LVMH also revealed that organic revenue growth over the period was 40% compared to 2020 and was 11% higher when compared with 2019. The group said the…
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Sep- 2021 -27 September
Burberry appoints new chief digital and analytics officer
Burberry has announced the appointment of CP Duggal as its newest chief digital and analytics officer, effective 30 September 2021. In this newly created position, he will be responsible for driving Burberry’s digital agenda and leveraging data and analytics to support the company’s strategic ambitions. He will also join the…
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