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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Jul- 2025 -24 July
Byredo debuts first standalone store outside London in Leeds
Luxury brand Byredo has opened its first standalone store outside London at Victoria Leeds, marking the latest high-end retail addition to the city centre shopping destination. The new 2,154 sq ft unit is located in Victoria Quarter and serves as Byredo’s northern flagship. It features two distinct areas: a main…
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21 July
Burberry CEO calls for VAT-free shopping return
Burberry CEO Joshua Schulman has called on the government to reinstate VAT-free shopping for international visitors claiming it will help Britain become Europe’s top shopping destination once again. Schulman told The Times that international consumers were “still not shopping in the UK to the extent that we would like” as…
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18 July
Burberry sales decline slows as turnaround plan takes effect
Burberry has revealed that its revenue fell 6% to £433m in the 13 weeks ended 28 June, as the brand stated it was seeing “early progress” on its turnaround plan. Alongside this, the company saw its comparable store sales fall 1% compared with a 21% decline last year. The slowing…
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14 July
Louis Vuitton confirms UK customer data stolen in cyber attack
Louis Vuitton has confirmed that data belonging to UK shoppers was stolen in a cyber attack on its systems earlier this month. The luxury fashion brand said an unauthorised third party accessed its UK operations on 2 July, taking names, purchase history and contact details of customers. However, the company…
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11 July
Mulberry raises £20m from shareholders amid £31.8m FY loss
British lifestyle brand Mulberry has unveiled a £20m fundraising in a bid to support its turnaround strategy, after reporting a £31.8m loss before tax in the year to 29 March due to revenues falling in a challenging luxury market. Group revenues dropped 21% to £120.4m in the period, with UK…
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3 July
Watches of Switzerland revenues surge to £1.6bn in FY25
Watches of Switzerland group has reported an 8% increase in revenues to £1.6bn for the 52 weeks ended 27 April 2025, as its US business surpassed $1bn (£780m) in annual revenue for the first time. US revenues rose 16%, driven by the acquisition of Roberto Coin Inc, while UK revenues…
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2 July
Oakley Capital acquires Smythson of Bond Street
Oakley Capital has officially acquired Smythson of Bond Street, Fornasetti and Fabbrica Pelleterie Milano (FPM) for an undisclosed amount through its investment vehicle Iconic BrandCo, expanding its portfolio of luxury heritage brands. The three brands join existing holdings Alessi, Globe-Trotter and Connolly in Iconic BrandCo, which was launched in 2020…
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Jun- 2025 -23 June
Mulberry eyes £20m fundraising as losses widen
Mulberry has announced plans to raise £20m in funding as part of a turnaround plan to return to profitability, as it anticipates its full-year losses will widen. The group said it expects to report a profit loss before tax of around £23m, ahead of the £22.6m loss reported last year,…
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17 June
Kering appoints Luca de Meo as CEO
Luca de Meo has been appointed chief executive of Kering and is expected to take office on 15 September, pending shareholder approval. The luxury group confirmed his appointment following a board meeting chaired by Kering chairman François-Henri Pinault. The board’s decision, based on the recommendation of the appointments and governance…
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May- 2025 -15 May
Watches of Switzerland FY revenues hit £1.65bn
Watches of Switzerland has reported an 8% increase in its group revenues to £1.65bn for the 52 weeks to 27 April 2025, after the group saw significant performance improvement in H2, with revenues up 12% to £867m. Meanwhile, in the UK, revenues were up 2% to £866m, while its US…
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