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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Aug- 2021 -10 August
Watches of Switzerland Q1 revenues soar 96.2%
Watches of Switzerland Group has revealed its revenues climbed 96.2% year-on-year to £297.5m for the 13 weeks ended 1 August 2021. Comprising £221.7m in UK revenues and £75.8m from US operations, the Q1 FY22 figure represents a 42.1% jump when compared to the same period in 2019. The group’s luxury…
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4 August
Hugo Boss reaches near-pre-pandemic sales levels
Hugo Boss has reported a near-return to pre-pandemic sales of €629m (£536m) in Q2 FY21, falling 4% when compared to the same quarter in 2019. The currency-adjusted figure represents a 133% year-on-year rise, with sales in group currency also climbing 129% from €275m (£235m) in Q2 FY20. The luxury fashion…
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4 August
DMR expands presence in Liverpool with Omega boutique
David M Robinson (DMR) has expanded its presence in Liverpool One shopping district with the opening of a mono-brand Omega boutique later this year. This latest expansion is DMR’s first opening of a mono-brand boutique, combining the watchmaking heritage of Omega with customer service experience. The new boutique spanning 2000…
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2 August
Hermes H1 net income reaches £1bn
Women’s bags and clutches retailer Hermes saw net income soar to €1.17bn (£999m) during the first half of FY21, up from €335m (£286m) the previous year. The group also reported a 70.2% year-on-year spike in revenues to €4.24bn (£3.62bn) during the period. Net income for the half year represented 27.7%…
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Jul- 2021 -27 July
LVMH reports 56% H1 revenue spike
Moët Hennessy Louis Vuitton (LVMH) has reported a 56% year-on-year revenue rise to €27.7bn (£23.7bn) in H1 FY21. Organic revenues at the luxury retailer also jumped 56% when compared to H1 FY20 and 11% in comparison to pre-pandemic 2019 levels. The group also saw profit from recurring operations jump 44%…
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16 July
Liberty London swings to £12.6m loss in FY21
Liberty London has swung to a management EBITDA loss of £12.6m for the 52 weeks ended 30 January 2021, following profits of £14.4m the previous year. While the group’s Great Marlborough Street flagship was closed for almost six months during the financial year, Liberty claimed that its online operations “benefitted…
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8 July
Watches of Switzerland revenues hit £905m in FY21
Watches of Switzerland has seen its revenue rise by 13.3% to £905.1m in the year ended 2 May, 2021, with revenue up by 17.9% against FY19. Over the same period, its pre-tax profit hit £63.7m, up from the £1.5m reported in FY20, while EBITDA rose by 34.9% to £105.4m. Despite…
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Jun- 2021 -9 June
LVMH launches £26m global support fund for employees
LVMH has announced the launch of its Heart Fund, a global emergency and support fund for its 150,000 employees, with an initial endowment of €30m (£25.7m). The group has implemented the fund with the aim of supporting all its staff around the world who are faced with a “serious personal…
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3 June
Grosvenor takes minority stake in Roland Mouret
Property Group Grosvenor Britain and Ireland has revealed that it has taken a minority stake in Roland Mouret, the luxury womenswear designer. The deal represents Grosvenor’s debut equity investment in one of its occupier groups, further expanding the partnership between the two groups that commenced with the opening of Roland…
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2 June
Moncler appoints new chief brand officer
Moncler has announced that Gino Fisanotti has been appointed to the newly created position of chief brand officer, with effect from 7 June 2021. Fisanotti will report directly to Remo Ruffini, chairman and CEO of the group, and will also join the strategic committee as strategic director while Roberto Eggs…
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