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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May- 2021 -24 May
Capri announces boardroom changes
Capri Holdings, a global luxury fashion group, has announced that M William Benedetto is set to retire from his role as lead director at the group on 28 July 2021. Benedetto has worked at the owner of Michael Kors, Jimmy Choo, and Versace since 2011, serving on the audit committee,…
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21 May
Watches of Switzerland anticipates profits of £104m
Watches of Switzerland has expected its FY21 pre-tax profits to range between £104m and £107m following a “very robust performance” throughout the year. Group revenue rose 13% to £905.1m from £810.5m, with UK revenue increasing 3.6% despite stores being closed for 26 weeks of the year and “significantly reduced tourism”.…
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19 May
BMG completes Duchamp acquisition
Brand Machine Group (BMG), a global licensing firm, has announced the acquisition of luxury UK men’s clothing and accessories company Duchamp for an undisclosed fee. The deal represents a continuation of BMG’s acquisition spree, having bought the American outdoor brand Penfield in January 2021. In turn, Duchamp will operate as…
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17 May
Ralph Lauren offloads Club Monaco brand to private equity group
Ralph Lauren Corporation has announced the sale of its Club Monaco brand to Regent, a global private equity firm, for an undisclosed fee. Expected to close by the end of June 2021, the transaction represents a continuation of the group’s fiscal 2021 strategic realignment plan. Revealed last year, the plan…
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7 May
Body Shop owner fundraises over £700m in sustainability-linked bonds
Natura and Co, the parent company of The Body Shop, Avon, and Aesop, has announced the completion of an international fundraising effort of $1bn (£718m) in bonds attributed to sustainability goals. According to the group, the funds will be put towards refinancing existing debt, as part of the group’s liability…
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Apr- 2021 -22 April
Kering’s Q1 revenues return to pre-pandemic levels
Luxury fashion group Kering has revealed that its revenues for the first quarter of the year have returned to pre-pandemic levels as consolidated revenues spiked 25.8% year-on-year. Kering claimed that the growth was driven by an uptick in sales of 83% in Asia-Pacific and 46% in North America. Moreover, online…
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21 April
Mulberry launches sustainability manifesto
Luxury fashion house Mulberry has launched a new sustainability manifesto, which outlines the company’s “ambitious commitments” to transform the business to a “regenerative and circular model”, encompassing the entire supply chain by 2030. The launch of the “Mulberry Made to Last” manifesto marks the group’s 50 anniversary year as a…
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14 April
LVMH Q1 revenues soar 32% to £12.1bn
Moët Hennessy Louis Vuitton (LVMH) has revealed its total revenues for the first quarter of FY 2021 rose 32% year-on-year to £12.1bn. The group posted a return to growth across the majority of its departments, including a 138% year-on-year watches and jewellery revenue increase. LVMH’s wines and spirits business group…
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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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