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Luxury leader Hermès has been hit with a class-action lawsuit alleging the company is engaged in the “unlawful practice of tying,” requiring customers to purchase ancillary Hermès products, such as shoes, scarves, and jewelry, before being given the opportunity to purchase a Birkin or Kelly bag. Claiming the company violates antitrust laws and is engaged […]
Whether culture shapes brands or brands shape culture is a chicken or egg question. Both are inextricably linked, and a review of the academic literature doesn’t help tease out which comes first. Rather, the research focuses on how culture influences consumer’s perceptions of brands, not the role that brands play in influencing culture. Bernard Arnault, […]
The French luxury conglomerate Kering, number two in the global luxury market, just issued a rare warning that first-quarter revenues are expected to decline 10% from last year’s $5.5 billion (€5.1 billion) and projects its flagship brand Gucci to be off nearly 20%, down from $2.8 billion (€2.6 billion). Kering cites particular weakness in the […]
The viability of online multi-brand luxury marketplaces has been an open question for years as the most prominent names, like Farfetch, Richemont-owned Yoox Net-A-Porter (YNAP) and Matches, have been unable to make a profitable success in the business. Despite luxury marketplaces’ early promise, recent developments suggest that luxury consumers simple don’t need online marketplaces to […]
Ermenegildo Zegna Group just delivered preliminary revenue results for fiscal 2023, and they’re impressive. Revenues advanced 28% year-over-year, up from $1.6 billion (€1.5 billion) to $2.1 billion (€$1.9 billion). These are unaudited results and the final earnings report is to come, yet it’s a remarkable performance in a turbulent personal luxury goods market that only […]
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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