This Valentine’s Day, luxury brands released 500 exclusive collections for the romantic occasion on Alibaba Group’s high-end shopping platform Tmall Luxury Pavilion, leveraging high-tech tools t…
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Kering reports 2022 group revenue up despite a mixed fourth quarter
Presenting its 2022 full-year results on February 15, Kering disclosed its group revenue exceeded EUR 20 billion in 2022, up 15 percent as reported and 9 percent on a comparable […]…
China’s luxury market contracts for first time in five years
China’s personal luxury sales contracted 10 percent year-on-year in 2022, ending its five-year run of exponential growth, according to a recent Bain & Company report.…
Luxury brands will continue to focus on China as economy improves
GlobalData said luxury brands will continue to focus on China as the expected revival in its economic growth will drive up sales for them.…
LVMH Asia sales ‘stable’ in 2022
LVMH said its Asia region revenues remained “stable” during 2022, compared to 2021, due to developments in the health situation in China.…
Luxury in Asia: Southeast Asia rising as China recovers
Locally, personal luxury goods in Asia (excluding Mainland China and Japan) surged by 43 percent in 2022, reflecting a strong performance in Thailand and other Southeast Asian countries, coupled with …
Foreo opens at Luxe Duty Free in the Philippines
Swedish beauty tech and wellbeing house Foreo has partnered with Duty Free Philippines to open a new store at Luxe Duty Free in Pasay City, Metro Manila.…
What do China’s luxury shoppers want in 2023?
Chinese consumers are eager to purchase luxury as a means of social advancement and self-differentiation. They are also highly accustomed to shopping during their travels, with over 70 percent of Chin…
Burberry APAC sales down 7 percent on Mainland China woes
Burberry Inc. announced on January 18 retail revenues for the third quarter ending December 31, 2022, rose 5 percent to GBP 756 million (USD 944 million), although it was flat at constant exchange rat…
Richemont Japan sales surge 43 percent, China dives
Swiss luxury group Richemont announced on January 18 sales for the third quarter rose by 5 percent, with double-digit revenue growth in Japan offsetting the disruption to retail trading in Mainland Ch…