A U.S. class-action lawsuit against Gucci claims exotic animals were abused for their skins and customers were deceived that its leather was ethically sourced.
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Fears Of Luxury Market Recession Grow As LVMH Revenue Falls
LVMH reported 3Q2024 ended down 3%, with Asia off 16% and Fashion & Leather Goods down 5%. LVMH called it a cyclical downturn but it may be bellwether of worse ahead.
Richemont Practically Gifted Yoox Net-A-Porter To Mytheresa
Richemont has come to an agreement for Mytheresa to acquire its online YNAP business, including Net-A-Porter, Mr Porter, Yoox and Outnet brands.
Mytheresa Shows Multibrand Retail Still Works In Luxury
While multibrand luxury fashion retail is on the ropes, Mytheresa just posted 10% year-over-year growth in fiscal 2024, led by a 25% uptick in the U.S.
Luxury Is Losing Its Lustre As American Affluents’ Priorities Shift
Latest results of Research The Affluent Luxury Tracking study reveal a HNW/UHNW American consumer balancing their spending between indulgence and restraint.
