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Dec. 21, 2024
  1. Accor developing Sofitel Diamond Crown Hai Phong in Vietnam
  2. Estée Lauder Cos. establishes new fragrance innovation hub in Paris
  3. Wearables, AI at forefront of 2025’s digital trends: IMG
  4. Off the Cuff: A Q&A with Aston Martin's Marek Reichman
  5. The RealReal opens retail location in Houston
  6. BMW sets record with funds raised for education at playoff event
  7. John Galliano leaves Maison Margiela creative director role
  8. Rebag reveals influence of celebrity style on secondhand market in 2024
  9. Balenciaga Music bridges cultures with Chinese pianist Wu Muye
  10. Happy Holidays!
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News briefs

Day’s wrap: New York, Kering, Bentley and Tiffany

March 20, 2020

New York New York at sunset

 

By Luxury Daily News Service

Luxury Daily's live news: 

New York, big domino of luxury, falls silent
The city that accounts for an estimated one-third of all luxury spending via retail, tourism and real estate is now effectively locked down starting March 22.

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Kering estimates Q1 revenue to drop 13-14pc over COVID-19 fallout
The owner of fashion houses such as Gucci, Bottega Veneta and Saint Laurent said the second-quarter revenue will be sharply impacted by the effect of the COVID-19 coronavirus pandemic on local clients and tourist traffic.

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Bentley Motors halts production at plant headquarters as COVID-19 precaution
British automaker Bentley Motors has suspended production of vehicles at its Crewe, England-based factory headquarters for four weeks, falling in line with other car companies that are taking precautions against the spread of the COVID-19 coronavirus.

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Tiffany Q4 sales up 3pc to $1.4B, fiscal 2019 revenue down 1pc to $4.4B
U.S. jeweler Tiffany & Co., which shuts its North American stores over the COVID-19 outbreak, reported net sales for its fiscal fourth quarter ending Jan. 31 were up 3 percent to $1.4 billion, while annual revenue for the full year was down 1 percent on a comp-sales basis to $4.4 billion.

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Is the aspirational luxury customer gone?
Many luxury brands and retailers rely on the 18- to 24-month shopper who saves money to buy a luxury item, such as a Louis Vuitton canvas tote, Ferragamo pump shoe or Hermès scarf.

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LATEST HEADLINES
MOST POPULAR
  1. Accor developing Sofitel Diamond Crown Hai Phong in Vietnam
  2. Estée Lauder Cos. establishes new fragrance innovation hub in Paris
  3. Wearables, AI at forefront of 2025’s digital trends: IMG
  4. Off the Cuff: A Q&A with Aston Martin's Marek Reichman
  5. The RealReal opens retail location in Houston
  6. BMW sets record with funds raised for education at playoff event
  7. John Galliano leaves Maison Margiela creative director role
  8. Rebag reveals influence of celebrity style on secondhand market in 2024
  9. Balenciaga Music bridges cultures with Chinese pianist Wu Muye
  10. Happy Holidays!
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RECENT ARTICLES
Happy Holidays!
Estée Lauder Cos. establishes new fragrance innovation hub in Paris
Accor developing Sofitel Diamond Crown Hai Phong in Vietnam

The RealReal opens retail location in Houston
Wearables, AI at forefront of 2025’s digital trends: IMG
Off the Cuff: A Q&A with Aston Martin’s Marek Reichman