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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Mar- 2021 -30 March
Watches of Switzerland signs lease for new Trafford Centre store
The Watches of Switzerland Group has announced it has signed a new 10-year lease with The Trafford Centre, for a flagship store in a new location, which is expected to open in the summer. The retailer will relocate its Goldsmiths store to The Trafford Centre’s Main Dome on the upper…
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26 March
LVMH partners with UNESCO for biodiversity commitments
Moët Hennessy Louis Vuitton (LVMH) has revealed a new biodiversity strategy in partnership with the UNESCO MAB (Man and the Biosphere) programme. The group has pledged to limit its impact on ecosystems, in turn rehabilitating five million hectares of Amazon rainforest habitat by 2030. The biodiversity strategy is structured around…
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12 March
Burberry upgrades Q4 guidance
Burberry has announced that ahead of its trading update, the group anticipates its fourth quarter results to be “better than expected” with an adjusted operating margin to be in the range of 15.5% to 16.5%. The retailer has estimated that its comparable store retail sales in Q4 FY2021 will range…
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11 March
Ted Baker expands international licencing partnerships
Ted Baker has announced it has entered into agreements with Al-Futtaim and PT Mitra Adiperkasa (MAP) as territory licence partners to enhance its digital and asset light growth in the Middle East and North Africa (MENA) and Indonesia. Following these new licence agreements, Ted Baker will have 17 retail licence…
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10 March
Pandora posts 12% organic growth in February
Luxury jewellery retailer Pandora has reported a year-on-year organic growth of 12% for February 2021. The month also represented a year-on-year total sell-out growth of 7%, while the quarter to date achieved 4% organic and 1% sell-out expansions when compared to Q1 of FY20. The results are part of a…
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8 March
Dolce & Gabbana suse bloggers over ‘racist’ comment leak
Dolce & Gabbana has filed a lawsuit for defamation against Diet Prada, an Instagram account and fashion watchdog group, who reposted “racist” comments against Asian people, which were allegedly made by one of the designers. The fashion house is suing bloggers Tony Liu and Lindsay Schulyer for over $600m (£434m)…
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3 March
Kering backs Vestiaire Collective in £154m investment round
Vestiaire Collective, a global platform for second-hand fashion, has announced the completion of a £154m investment round, backed by Gucci’s owner, Kering, alongside Tiger Global Management, a US investment firm. The financing also saw existing shareholders including but not limited to the group’s CEO, Max Bittner, Condé Nast, Eurazeo Group,…
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2 March
Hotel Chocolat reports 11% revenue rise in H1
Hotel Chocolat has reported a 11% rise in revenue in its interim results for the 26 weeks ended 27 December 2020. Revenue increased to £101.9m while profit before tax rose by 3% to £15.5m over the period. The chocolate retailer saw a particularly strong sales growth over the holiday season…
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Feb- 2021 -4 February
‘Robust’ online sales offset store closures at Watches of Switzerland
Watches of Switzerland has welcomed a period of strong trading in its third quarter ended 24 January 2021, with group revenue up by 6.6% to £272.6m despite the ongoing pandemic. This was bolstered by a “robust” e-commerce performance in the UK, which offset continued store closures throughout the period. UK…
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Jan- 2021 -28 January
Hugo Boss appoints new chief sales officer
Hugo Boss has announced the appointment of Oliver Timm as chief sales officer. In his role, he will be responsible for delivering a “premium shopping experience” for the retail group customers across all consumer touch-points − from retail and wholesale to e-commerce. Among Timm’s top priorities will be the implementation…
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