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In Macy’s Inc. recent earnings call, the most surprising news was the opportunity it sees in luxury. It surprised CNBC’s Lauren Thomas too, who immediately got on the phone with CEO Jeff Gennette to get the scoop.He said the collapse of competing luxury department stores, notably Barney’s, Neiman Marcus, and Lord & Taylor, combined with […]
Ralph Lauren Corporation just delivered sobering first-quarter news. Revenues declined 66% year-over-year, from $1.4 billion in first-quarter 2019 to $487.5 million, and net income dropped from $128 million compared to a gain of $117.1 million last year. Stock prices ended the day of the announcement at $66.68, falling from $119 at the start of the […]
Letting no crisis go to waste, the MBB big-three consulting firms – McKinsey & Company, Boston Consulting Group, and Bain & Company – have all come out with their post-coronavirus predictions for the luxury market. I’ve spent hours digesting their reports, including interviewing Bain’s Claudia D’Aprizio, who is arguably the world’s leading authority on the […]
In a recent conversation with fellow Forbes.com contributor Steve Dennis, our wide-ranging discussion turned to RH, the company formerly known as Restoration Hardware.“I was at a conference where Gary Friedman talked about these new gallery stores that hadn’t opened yet. And I thought he was crazy,” Dennis said.I had much the same feeling when I […]
Since the 2008/2009 recession, China has effectively become the tail that wags the dog of the global luxury market.That’s because China was largely unaffected by the economic downturn that battered the market throughout the rest of the world. Not only that, Chinese consumers, with their growing economic power, expressed a heady appetite for luxury brands […]
Speaker, author, and market researcher Pamela N. Danziger is internationally recognized for her expertise on the world’s most influential consumers: the American Affluent. As founder of Unity Marketing, Pam leads with research to provide brands with actionable insights into the minds of their most profitable customers.
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