The luxury market, including its goods and experiences, will end the year up eight to 10 percent over 2022 at current exchange rates, which is pretty dynamic considering the hefty comps it is up against. Expected to hit €1,508 billion ($1.65 trillion), it will have advanced between 18 to 20 percent over 2019, according to […]
Archive | HENRYs (High-Earners-Not-Rich-Yet)
RSS feed for this sectionJ.McLaughlin: Out Of The Shadows Into The Fashion Spotlight
J.McLaughlin started as a men’s haberdashery shop on Manhattan’s Upper East Side in 1977. Opened by brothers Jay and Kevin McLaughlin, the store was designed to fit into its upscale neighborhood with classic men’s fashion that fit right in too. Originally, J.McLaughlin dressed men, but early on, women asked for the same fashion sensibility for […]
Aspirational Consumers Pull Back, Driving Down Luxury Leaders’ U.S. Sales
The leading global luxury brands showed topline gains for the first half of the year, despite a drop in sales in the U.S., where aspirational consumers are stretched thin and have cut back on indulgent purchases. In most recent reporting, all but Kering showed outstanding topline gains – LVMH was up 15% to $46.5 billion […]
In Luxury, Exclusivity Means Being The Incomparable One Among Many. Neiman Marcus Gets It.
Nordstrom recently disappointed Wall Street when it announced a 4.1% decline in sales during its fourth quarter covering November 2022 through January 2023. It started Fiscal 2022 strong, with sales up 18.7%, then with each successive quarter, sales slowed. It followed a pattern seen widely across the luxury market and reported here. Luxury brands far […]
Need Better, More Up-To-Date Information On Luxury Consumers To Plan Your Next Moves? Free Trial
Over the last three years, the luxury market has experienced a whirlwind of change. After rising 7 percent in 2019 before the pandemic, it suffered a steep decline in 2020, only to bounce back with spectacular growth through 2021 and 2022. Now the economy is under threat again with the banking crisis, rising interest rates, […]