In 2025, the luxury market faces headwinds unlike any seen since the Great Recession or Covid due to the threat of tariffs to disrupt the economy and global trade.
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After Breaking $1 Billion in Sales Third Quarter, RH’s Gary Friedman Says ‘You Ain’t Seen Nothing Yet’
RH, the company formerly known as Restoration Hardware, just announced revenues across its “ecosystem of products, places, services and spaces” rose 19% in third quarter 2021, exceeding $1 billion in sales.That brings year-to-date revenues to $2.86 billion, just ahead of $2.85 billion generated in all of 2020. This was accomplished despite the year’s supply-chain challenges, […]
Luxury Brands and China: An Increasingly Risky Dependency
LVMH just came out with a strong first quarter 2021 report, reassuring industry watchers that the Covid pandemic is finally in the rearview mirror for the luxury market.Total revenues reached €14 billion, nearly equal to $17 billion, with organic revenue growth over same period last year up 30%, excluding currency fluctuations and its acquisition of Tiffany. […]
American Brands Are Losing Appeal in China, Just as It Becomes the World’s Largest Luxury Market
The Covid pandemic took a big bite out of the reliably buoyant luxury market. The personal luxury goods market, which includes fashion, jewelry, watches and beauty, will drop 23% this year to $257.5 billion, the largest annual decline in history and the first time sales have dropped since 2009, according to Bain’s 2020 Fall Luxury […]
Cultural Relevance Is Key To Success In Marketing Luxury in China
Interview with Daniel Langer, Ph.D. and CEO of management consulting firm Equite, about the opportunities and pitfalls that luxury brands face marketing in China. He finds luxury strategies that work in the Western world don’t translate easily to China.
