Luxury Daily, February 4, 2020 – Changing Indian luxury landscape: What it means for luxury brands
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The luxury business contributes $880 billion in annual revenue to the European economy, making up 4 percent of European GDP, according to a new report from the European Cultural and Creative Industries Alliance (ECCIA) in association with Bain & Company.
Department store Saks Fifth Avenue has collaborated for the first time with a luxury residential development to offer exclusive perks, collection previews, personal shopping and consulting services to building residents.
Nine new fashion and luxury professionals have joined the committee this year, taking the total to 59 executives, editors and celebrities. Model Gigi Hadid joins the panel as showroom ambassador for the semi-final of the 2020 LVMH Prize.
Influencers, celebrities and owned media channels are powerful promotional tools during fashion weeks, with these placements generating a greater portion of impact value for brands than their share of voice.
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French fashion house Louis Vuitton has grown its value by 15 percent in the last year to $53.4 billion, courtesy of its innovative, contemporary consumer engagement tactics.
British department store chain Harrods has introduced a beauty events and services space in its flagship Knightsbridge store in London, marking the final phase of the retailer’s aim to make that location one of the world’s largest beauty destinations.
Europe and the United States showed good growth last year, and so did Asia, despite a difficult environment in Hong Kong in the second half of 2019.
Luxury managers are aware that their brands are not at all prepared to be attractive or relevant to millennials today.