Years ago, I took my first paycheck and ran to the Louis Vuitton flagship store on Via Dei Condotti to buy my first “Neverfull” bag. Afterward, I went to the Rolex boutique and spent what was left of my paycheck on the Rolex Oyster Perpetual.
Resale platform Rebag has found that handbags from French luxury labels Hermès, Chanel and Louis Vuitton retain the most brand value on the resale market, while two other brands are seeing value retention rise in part to new collections.
In the 1960s, France’s then minister of finance, Valéry Giscard d’Estaing, said that the U.S. dollar gave America an “exorbitant privilege.” Unfortunately, the Golden Age of U.S. currency is nearing an end. These days, analysts discuss “the new era of weakness” for American currency.
An increasing number of luxury brands are adjusting pricing policies to recount for some of the losses incurred from the global COVID-19 pandemic, but will this strategy serve their interests in the long-term?
The legal tussle between French conglomerate LVMH and U.S. jeweler gets more vicious by the minute as it is fought out as much in the court of public opinion as it is in law courts.
Only weeks after walking back its commitment to buy Tiffany & Co., French luxury conglomerate LVMH Moët Hennessy Louis Vuitton late Sept. 28 evening countersued on grounds that the U.S. jeweler’s business was deeply damaged by the COVID-19 pandemic and mismanagement.
Many luxury brands are struggling to keep their stores afloat. Even before the pandemic, after speaking with luxury fashion brands all over the world, I realized they were all facing a similar challenge: decreased store foot traffic.
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The financial numbers from top brands such as Hermès, LVMH, Dior, Givenchy and Celine already show the success of their localized ecommerce strategies.
