Farfetch revenues hit $1.7B as luxury shoppers go online. Image courtesy of Farfetch
Luxury Daily’s live news for Feb. 26:
Farfetch revenues hit $1.7B as luxury shoppers go online
Online retailer Farfetch saw its gross merchandise value exceed $3 billion, noting in its financial results for the full year ended Dec. 31 2020.
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Sephora focuses on bricks-and-mortar expansion, collaborations
LVMH-owned beauty retailer Sephora has announced it is opening 260 new stores in 2021 and collaborating with Coach for a new makeup collection.
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Estée Lauder names Ana de Armas new global ambassador
Beauty brand Estée Lauder has announced actress Ana de Armas as a new global brand ambassador in its latest push for storytelling and representation.
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Sub-Zero Group introduces virtual showcase for smart appliances
Kitchen appliance group Sub-Zero, Wolf and Cave is launching its first virtual showcase to feature new product offerings.
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Birkenstock sells majority stake to LVMH-backed firm
LVMH Moët Hennessy Louis Vuitton-backed private equity firm L Catterton has acquired a majority stake of German footwear label Birkenstock, hoping to boost sales in China and India, as well as online.
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Why luxury lingerie is pandemic-proof
While many luxury brands have seen financial losses during the COVID-19 pandemic, one category that continues to thrive is lingerie.
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