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- 2018 -26 January
London and New York named key locations for luxury watch brand expansion
London and New York could provide key opportunities for luxury watch brands seeking expansion in 2018. Real estate advisor Savills reported new luxury watch store openings fell globally in 2017, with 37 compared to 44 in 2016. The year also saw openings move away from the traditional Asia Pacific markets…
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22 January
Richemont in £2.4bn bid for Yoox Net-A-Porter
Swiss luxury retailer Richemont has made a bid to acquire online retailer Yoox Net-A-Porter Group (YNAP) for £2.4bn. The company, which owns high-end brands such as Cartier, Montblanc and Dunhill London, already has a stake in the YNAP Group but has made a public tender offer to buy the remaining…
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17 January
Hugo Boss reports a strong final quarter for 2017
Hugo Boss has “achieved its goals for 2017” following strong sales in its final quarter, it has reported in its preliminary results for the year. Sales for the luxury retailer were up by 5% to £652m in the final quarter, raising its full year sales by 3% to £2.4bn. The…
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15 January
Rigby and Peller loses royal warrant after revealing Queen’s bra measurements
Luxury lingerie retailer Rigby and Peller has lost its royal warrant after releasing a book containing the Queen’s bra measurements. The warrant was withdrawn after bra fitter and business owner, June Kenton, released a book called ‘Storm in a D-Cup’ . According to the BBC Kenton said there was “nothing…
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15 January
Kering offloads 70% stake in Puma
Luxury goods group Kering has announced plans to sell a 70% stake in sportswear brand Puma amongst its shareholders. Post transaction, Kering would retain approximately 16% of Puma shares outstanding. Artémis, which holds 40.9% of Kering’s shares, would become a long term strategic shareholder of Puma with an ownership of…
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