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Are Luxury Consumers Ready For Chanel To Change Creative Direction?

Rumors have persisted for years that Chanel’s artistic director Virginie Viard was on her way out. However, in early May at the Marseille cruise collection show, Chanel president of fashion and accessories Bruno Pavlovsky disabused those rumors, emphatically stating to Fashion Network: “Virginie is doing extremely well. You know, ever since she succeeded Karl Lagerfeld, […]

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Luxury Brands Have An Innovation Gap: Here’s The Fix

In the classic Annie Hall movie, Woody Allen’s character memorably said, “A relationship is like a shark. It has to constantly move forward or it dies.”  Brands are a lot like sharks. To avoid dying, they’ve got to keep moving forward and that means they must innovate. For legacy luxury brands steeped in heritage, innovation presents a […]

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How Luxury Brands Can Bridge The Innovation Gap With GenAI

There’s lots of talk in luxury brand circles about GenAI reshaping luxury innovation. The upcoming Luxury Innovation Summit to be held in October in Geneva will be devoted to exactly that topic. Over 500 executives are expected to attend to find out how. For legacy luxury brands steeped in heritage, innovation presents a challenge. Too much change […]

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Hermès Is Close On Chanel’s Heels As Luxury’s Number Two Brand And Gaining Ground

Chanel just announced revenues rose 16% to $19.7 billion in 2023 on a comparable basis at constant currency. It exceeded the 14% organic growth of industry leader LVMH’s Fashion and Leather Goods reporting segment but fell short of Hermès’ 21% advance on constant exchange rates, yet it surpassed Hermès in revenues of $14.5 billion (€13.4 […]

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How Mytheresa Unlocked The Luxury Marketplace Business Model

While e-commerce, multi-brand fashion marketplaces Farfetch and Matches have fallen and Richemont-owned YOOX Net-a-Porter hangs in the balance, Mytheresa stands strong. It’s done it by offering a carefully curated selection of luxury fashion offerings focused on the demands of true luxury consumers using a traditional wholesale-to-retail business model like a department store. Its point of […]

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