Though still in early days, luxury fashion marketplace Farfetch seems to have found a good home at Coupang under leadership of founder and CEO Bom Kim.
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Conspicuous Consumption Is Back: Navigating Millennial Status Motivation For Luxury Brands
A new survey finds affluent Millennials are keen to purchase luxury goods for the status they confer, calling on luxury brands to embrace their customers’ status needs.
Why Nordstrom May Be Surprise Winner From Saks-Neiman Marcus Merger
After months, even years of rumors, Saks Fifth Avenue and Neiman Marcus Group (NMG) have reached a definitive merger agreement. Saks will pay $2.65 billion to acquire NMG and its 36 department stores, two Bergdorf Goodman locations and five Last Call outlets. Saks brings 39 stores, 95 Saks Off 5th outlets, and a separately operating […]
Resolving The Tension Between Quiet Luxury and Status-Seeking Conspicuous Consumption
A New York minute ago, quiet luxury replaced conspicuous consumption and became all the rage. Now it’s retreated from the headlines with fashion insiders rejecting the phrase as too overused: “An overly TikTok-ified way of describing classic, refined clothing,” the Wall Street Journal reports. Italian designer Brunello Cucinelli, who fully embraces the trend if not the terminology, […]
Italy Calls Out Dior For Unethical Supply Chain And Warns Other Luxury Brands About Abuses
A Milan court just placed LVMH’s Christian Dior brand under judicial administration for a year after an investigation found two of its Chinese-owned subcontractors based outside Milan had exploited their workers. This followed a similar judgment in April against Giorgio Armani for “culpably failing” to oversee its suppliers, according to Reuters. While Dior was not […]
