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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Apr- 2018 -26 April
London cake shop launches ‘edible tampon’ macarons
A London cake shop, Ohlala, is selling tampon-shaped macarons in support of Bloody Good Period, a charity which supplies free sanitary products to those who cannot afford them. For every box of eight sold (priced at £24.50), Ohlala will donate £10, enough to supply a month of free sanitation products…
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25 April
Kering revenue boosted by Gucci’s ‘spectacular growth’
Luxury goods group Kering has announced 36.5% revenue growth for the first quarter of 2018, driven by a 49% rise in revenues at Gucci. Thanks to “favourable market conditions” Kering reported that its group revenues for Q1 totalled £2.72bn. Kering attributed the growth to the group’s online sales which “more…
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23 April
Alibaba and Valentino create 3D virtual store
Alibaba has partnered with Valentino to create an virtual 3D store that can be browsed by visitors to Alibaba’s Tmall Luxury Pavillion. The store will be mirrored in real life by a pop-up in Beijing’s fashionable Sanlitun district, as the two brands look to integrate the online and offline shopping…
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16 April
Dr Gerry Murphy joins Burberry board as chairman designate
Dr Gerry Murphy is set to take over as chairman designate at Burberry after Sir John Peace stepped down after 16 years in the role. Murphy said: “I am honoured to take up this role and to succeed Sir John as chairman. Burberry is a unique British brand that I…
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10 April
Counterfeiting hits nearly half of brands
Almost half (47%) of brands lose sales revenue to counterfeit or pirated goods, new research from brand protection firm MarkMonitor has revealed. In the study conducted by market research firm Virtuous World, one in three respondents also reported a loss of more than 10%. Respondents from the UK, US, Denmark,…
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Mar- 2018 -26 March
Gucci owner Kering faces tax investigations
Swiss prosecutors have opened an investigation into luxury fashion giant Kerring over alleged tax evasion after a request for assistance from Italian authorities. According to reports, an Italian inquiry which began in November 2017 looked into whether profits Kerring made on Gucci sales in Italy had actually been declared in…
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12 March
Farfetch poised to make £4bn IPO after hiring US banks
Online luxury retailer Farfetch has hired bankers from JP Morgan and Goldman Sachs as it readies itself to make an initial public offering (IPO). Farfetch, launched in 2008, enables nearly 900 boutiques and luxury brands to sell their designer products to around two million from 190 countries. According to reports,…
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1 March
Burberry appoints Riccardo Tisci as chief creative officer
Burberry has announced that Riccardo Tisci has been appointed chief creative officer, replacing longtime creative chief Christopher Bailey effective 12 March 2018. Tisci, who is a graduate of Central Saint Martins in London, will direct all of the fashion retailers collections and will present his first for the brand in…
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Feb- 2018 -15 February
Burberry announces partnership with Farfetch
Fashion brand Burberry has announced a partnership with online retailer Farfetch which will see its entire global inventory made available for purchase online for the first time. The integration will expand Burberry’s distribution globally, giving the brand access to over 150 countries. Daniel Heaf, SVP digital commerce and marketing at…
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13 February
Breitling removes ‘sexist’ ads after backlash
Watchmaker Breitling has removed ads featuring women wearing ‘skimpy outfits’ after receiving complaints from customers. Some of the adverts portrayed “subservient women” acting as ground support for male pilots flying airplanes. The group also came under fire from customers for putting on a display a female mannequin sitting on a…
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