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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May- 2024 -9 May
Watches of Switzerland acquires Roberto Coin
Watches of Switzerland Group has signed and completed the acquisition of the entire share capital of Roberto Coin Inc. for a total cash consideration of $130m (£104.2m) Roberto Coin S.p.A., founded in the Italian city of Vicenza, designs and manufactures delicately handcrafted jewellery with a unique ruby signature under the…
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3 May
Apple profits fall as iPhone demand slows
Apple has reported a 2% year-on-year decline in profit to $23.6bn (£18.8bn) and a 4% decrease in revenues to $90.8bn (£72.2bn) for its fiscal 2024 second quarter ended March 30, 2024. The decline in revenue and profits comes as the group’s iPhone sales dropped 10% from $51.3bn (£40.8bn) to $45.9bn…
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2 May
Hugo Boss Q1 sales jump 6%
Hugo Boss has announced that its sales jumped 6% on a constant currency basis to €1.01bn (£860m) for the three months ended 31 March 2024. Alongside this, the company’s EBIT also rose 6% up to €69m (£59m) while its EBIT margin was up 10 basis points. In the EMEA region,…
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1 May
Mulberry revenues decline 4% in FY24
Mulberry Group revenues fell by 4% in the year ended on 30 March compared to the previous year against a backdrop of challenging macroeconomic conditions and a decline in luxury consumer spending. Losses for the full year will be impacted by the additional operational costs of new stores in Sweden…
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Apr- 2024 -26 April
Burberry faces takeover threat after share drop
Burberry is at risk of takeover after losing a fifth of its value since the start of the year, The Telegraph has reported. A profit warning from rival luxury brand Kering, which owns Gucci, Bottega Veneta and YSL among others, triggered a dip in Burberry shares on Wednesday (24 April).…
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24 April
Kering revenues dip 11% to €4.5bn in Q1
Kering’s revenues were down 11% to €4.5bn (£3.8bn) for the first quarter of 2024 as Gucci, Yves Saint Laurent and Bottega Veneta failed to perform positively. The group’s revenue from the directly operated retail network fell 11% on a comparable basis, as a result of lower store traffic. During the…
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19 April
Mytheresa FY24 guidance ‘at lower end’ despite healthy Q3 sales
Mytheresa has confirmed that its guidance for FY24 to 30 June will be “at the lower end” of its estimated range of 8% to 13%, despite the group expecting Q3 sales to have increased between 15% and 18% year-on-year. Sales are predicted to show growth of between €230m (£197m) and…
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18 April
LVMH revenues up 3% in Q1 despite economic uncertainty
Luxury group LVMH has reported a revenue growth of 3% to €20.7bn (£17.7bn) in the first quarter of 2024, marking a good start to the year despite “a geopolitical and economic environment that remains uncertain”. This comes as its European and US markets achieved 2% growth on a constant currency…
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9 April
Swarovski to launch standalone boutique in Merry Hill
Luxury brand Swarovski is returning to West Midlands destination Merry Hill with the launch of a standalone boutique set to open in spring. The new store, spanning 2150 sq ft between Goldsmiths and Beaverbrooks on the Upper Mall, will feature the retailer’s latest shop fit, with metallic finishes and fluted…
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4 April
Mytheresa mulls bid for Yoox Net-a-Porter
Mytheresa is reportedly among possible bidders who are looking to acquire underperforming ecommerce business Yoox Net-a-Porter from Swiss luxury group Richemont, the Financial Times has reported. News of the bid comes as Richemont has been looking for a new buyer for the business since a deal to sell a 47.5%…
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