Armed with growing wealth, technological prowess and a penchant for responsible consumption, millennials have transformed the luxury market in recent years, changing how brands approach everything from marketing to in-store experiences.
With China’s economic growth rate slowing to a record low, the number of Chinese ultra-affluents who are “very confident” in the economy dropped more than 10 percent in 2018.
Armed with growing wealth, technological prowess and a penchant for responsible consumption, millennials have transformed the luxury market in recent years, changing how brands approach everything from marketing to in-store experiences.
Inspired by the growth of the luxury ecommerce market in Asia, a new platform to be launched will give luxury retailers and brands an avenue to reduce returns for online orders and make a stronger connection to users.
When it comes to luxury on Chinese social media application Weibo, younger consumers are the prevalent force driving usage.
Italian house Gucci is paralleling its presence in men’s style with art in a new exhibit that reflects fashion’s belief that its work is art.
While 2018 saw several luxury conglomerates consolidating their empires through brand acquisitions, others such as Yoox Net-A-Porter looked to strategic partnerships.
Ongoing trade tensions between China and the United States and signs of a slowdown in Chinese spending are causing a slump in luxury stock prices.
Italian fashion label Gucci is exploring the chemistry of perfume in a fragrance collection that aims to inspire consumers to customize their scent.
This year’s list of Luxury Women to Watch 2019 features honorees who have set ambitious goals to achieve in a luxury market that, while growing, is also challenged by rapid changes in consumer behavior and technology.
