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Balance of Power in the Luxury Market Shifts To Favor Only Seven Brands

Bain and Company and the Italian trade association Fondazione Altagamma are out with their 2021 study of the global luxury market. Based on a preliminary assessment covering both sales in the luxury goods and experiences market in nine major categories, it reports total revenues will increase between 13% to 15% over the 2020 pandemic year […]

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Patagonia Puts Its People Over Profits and Closes Between Christmas and New Year

Patagonia, the outdoor clothing and gear brand, has always marched to its own drummer. From its “Don’t Buy This Jacket” ad in the New York Times, using Black Friday sales not to line its pockets but to give back to environmental causes, and its self-imposed “Earth tax” which donates 1% of all sales to environmental […]

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What Retailers Can Do About the ‘Great Resignation’

In advance of the holiday season, the National Retail Federation (NRF) reported retailers will hire between 500,000 and 665,000 seasonal workers in November and December. At least some of retail’s 8.5 percent to 10.5 percent projected growth for holiday sales is contingent on retailers having enough employees to ring up the sales, stock the shelves […]

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After Breaking $1 Billion in Sales Third Quarter, RH’s Gary Friedman Says ‘You Ain’t Seen Nothing Yet’

RH, the company formerly known as Restoration Hardware, just announced revenues across its “ecosystem of products, places, services and spaces” rose 19% in third quarter 2021, exceeding $1 billion in sales. That brings year-to-date revenues to $2.86 billion, just ahead of $2.85 billion generated in all of 2020. This was accomplished despite the year’s supply-chain […]

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Neiman Marcus’ Transformation Continues, But One Tradition Carries On: Its Christmas Book

Since joining Neiman Marcus Group as chief executive officer in 2018, Geoffroy van Raemdonck has been spearheading a transformation plan for the company that includes luxury legacy retailers Neiman Marcus and Bergdorf Goodman. Unable to realize his vision weighted down by nearly $6 billion in debt, Neiman Marcus filed for bankruptcy in May 2020, not […]

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