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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Dec- 2024 -5 December
Watches of Switzerland profits dip 39% despite revenue surge
Watches of Switzerland has reported a 39% decline in its profit before tax from £67m to £41m despite a 4% increase in revenues to £785m, driven by strong demand in the US. According to the group, its profits were affected by acquisition-related costs and integration efforts. For the 26 weeks…
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Nov- 2024 -20 November
Deliveroo partners with Hurr to deliver rental designer dresses
Deliveroo has announced a new partnership with resale fashion marketplace Hurr to bring rental designer dresses to customers. The new collaboration will allow Deliveroo customers to rent pre-loved high-end fashion pieces from Hurr’s selection directly through the Deliveroo app. Customers within central London will be able to browse through a…
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19 November
Mulberry to ‘rebuild’ business after losses widen and sales plunge 19%
Mulberry has seen its losses widen to £15.3m in its half-year results, up from a previous loss of £13.5m, as sales plummeted amid a period of “significant uncertainty” for the business. In the half-year ended 28 September 2024, revenues fell by 19% to £6.1m, with UK sales down by 14% to…
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15 November
LVMH unveils new leadership team appointments
LVMH chairman and chief executive officer Bernard Arnault has made a raft of appointments to the group’s leadership team after consulting with the Sustainability and Governance Committee of the board of directors. Maud Alvarez-Pereyre will be appointed executive vice president Human Resources of the LVMH Group and become a member…
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14 November
Burberry unveils turnaround plan as profits plummet
Burberry has unveiled a turnaround plan after it posted an adjusted operating loss of £41m for the six months ended 28 September. This is a large fall from the £223m profit it posted in the same period last year and comes alongside a revenue drop of 20%. Furthermore, comparable store…
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Oct- 2024 -22 October
Mulberry board backs decision to reject Frasers bid
The board of Mulberry has backed the decision by majority shareholder Challice to reject the improved £111m takeover bid from Frasers Group. Challice stated last week that it had “no interest in either selling its Mulberry shares to Frasers or providing Frasers with any irrevocable or other undertaking with regards…
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14 October
Mulberry’s majority shareholder rejects increased Frasers bid
Mulberry’s majority shareholder Challice has turned down an increased bid of £111m from Frasers Group as it has “no interest in selling”. Chalice pointed out that Frasers would be unable to take over Mulberry without its support. Frasers, which already owns 37% of Mulberry, raised its offer for the retailer…
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9 October
Gucci appoints new CEO
Kering has announced that Stefano Cantino has been appointed as the new CEO of Gucci, replacing Jean-François Palus, from 1 January 2025. He will report to Francesca Bellettini, deputy CEO of Kering in charge of brand development and will have a seat on Kering’s executive committee. Cantino joined Gucci in…
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7 October
Mulberry founder suggests LVMH may be best fit for bidder
Roger Saul, the founder of luxury handbag retailer Mulberry, has told This is Money that it would fit “more naturally” with a European luxury group like LVMH. It comes after the retailer rejected an £83m bid from Sports Direct CEO Mike Ashley last week, despite admitting that Mulberry has struggled…
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4 October
Watches of Switzerland acquires Hodinkee
The Watches of Switzerland Group has announced the acquisition of Hodinkee, a US digital content provider for watch enthusiasts. With a history of stewarding brands, the Watches of Switzerland Group aims to utilise its leadership role in the industry to further Hodinkee’s mission in sharing “engaging, educational and entertaining” watch…
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