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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Oct- 2024 -2 October
LVMH sells Virgil Abloh’s Off-White to Bluestar Alliance
LVMH has announced the sale of luxury streetwear brand Off-White to New York-based brand management company Bluestar Alliance. Founded in 2013 by late Louis Vuitton artistic director Virgil Abloh, the brand was established to define the “grey area” between black and white as a colour. In 2021 LVMH acquired a…
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Sep- 2024 -30 September
Mulberry to raise £10m amid £34m loss in FY24
Mulberry has announced a plan to raise £10m as it faces a loss before tax of £34.1m for the year ended 30 March 2024. The retailer attributed the result to reduced revenue and margin in the period, along with increased operational costs. Group revenue was down 4% to £152.8m with…
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16 September
Tourist Tax cost retailers £220m in H1, says NWEC
The loss of tax-free shopping cost West End retailers £220m in unrealised sales in the first half of 2024, according to data from the New West End Company (NWEC). NWEC also claimed that the policy change cost West End retailers £400m in 2023. The number of international tourists visiting London…
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13 September
Mytheresa FY sales rise 9.8% to €840.9m
Luxury multi-brand digital platform, Mytheresa, has reported that net sales rose by 9.8% to €840.9m (£709.7m) for the year to 30 June after its fourth quarter performance drove “significant” improvements in the second half. Gross merchandise value at the group also rose by 7.1% to €913.6m (£771m) compared to the…
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10 September
Burberry valuation hits 15-year low as market value falls to £2bn
Burberry shares have dropped by about 8% following a downgrade by Barclays, which has reduced the luxury fashion retailer’s market value to £2bn – its lowest valuation since 2009, The Telegraph has reported. The news comes after the retailer’s recent exit from the FTSE 100. According to Barclays, Burberry’s situation…
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10 September
Beaverbrooks invests £1.6m in Bracknell store refurb
Family-owned national diamond, jewellery and watch retailer Beaverbrooks has made a £1.6m investment in the complete refurbishment and expansion of its Bracknell store, doubling its size and elevating it as a destination for luxury and Swiss watches. Following the investment, the newly refitted store, located on The Avenue, reopened on…
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5 September
Dior appoints Miu Miu CEO as managing director
LVMH-owned Christine Dior has announced the appointment of Miu Miu CEO Benedetta Petruzzo to the executive committee as managing director, effective 15 October 2024. Petruzzo will officially replace current managing director Charles Delapalme and will report to Delphine Arnault, chairman and chief executive officer of Christian Dior Couture. In her…
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3 September
Watches of Switzerland on track to deliver FY25 guidance
Watches of Switzerland has stated that trading for the first 18 weeks of the financial year has been in line with its expectations and that the group is on track to deliver its FY25 guidance as it makes progress against its Long Range Plan. Demand for its key luxury brands,…
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3 September
Harrods sales hit £900m but profits slide £35m
Sales at Harrods have surged to almost £900m in its latest full-year results, as revenues rose by 8% to £898.4m following a continued return in overseas visitors.In the year ended 3 February 2024, initial operating profits rose slightly to £162.9m, up from £158.4m the prior year, according to new filings…
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Aug- 2024 -28 August
Naked Wines appoints new CFO as losses widen
Naked Wines has appointed Dominic Neary as its new CFO after it posted a loss before tax of £16.3m for the year ended 1 April 2024, up from £15m in the same period last year. Alongside this, the company posted an adjusted EBIT of £5m, down from £14.9m in the…
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