Without warning and with no explanation, Kering-owned Bottega Veneta just closed down its Instagram, Facebook and Twitter accounts. Its abrupt halt to social media promotion has left the luxury fashion world stunned. With e-commerce doubling its share of the personal luxury goods market in 2020, from 12% in 2019 to 23%, and with its share […]
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RSS feed for this sectionLuxury Enters the Era of Conscientious Luxury
This year’s fifth annual State of Luxury report takes a look back at the year that was, but more importantly, looks ahead to what 2021 holds for companies competing in the luxury market. As 2021 dawns, it will be a year of transition for the luxury market after the reset brought on by the Covid-19 […]
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 […]
What Happens To Tiffany After LVMH Takes Over?
The luxury deal of the century is back on track. Pending Tiffany shareholder approval, the French conglomerate LVMH will acquire Tiffany and Company for $15.8 billion, making this the biggest deal for the world’s biggest luxury company, a company which has grown to 75 brands through acquisitions alone. A few short months ago, LMVH was […]
Louis Vuitton Face Shield: Tacky Luxury Status Symbol or Essential Fashion Accessory for Post-Covid World?
Ever since the coronavirus pandemic broke out, luxury brands have heeded the call to action. With protective gear for frontline medical workers in short supply globally, brands repurposed their factories to manufacture face masks and hospital gowns, as well as made financial donations. LVMH, the world’s undisputed luxury leader, was first out of the block […]