Luxury Daily’s live news: Citing Yoox Net-A-Porter acquisition, Farfetch eyes big future; Coty sees robust FY22, fueled by fragrance; Zegna sees $729M in revenue in first half of 2022; Jing Daily names luxury editorial veteran as global editor in chief.
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Luxury Daily’s live news: Farfetch acquires Yoox Net-A-Porter from Richemont; Nordstrom braces for luxury sales slowdown, adjusts H2 forecast; Mercedes-Benz secures battery production partner, eyes full EV transition by 2026; Sephora shuffles executive talent to focus in on global growth; Zegna announces official travelwear partnership with Real Madrid.
Luxury Daily’s live news: Farfetch acquires Yoox Net-a-Porter from Richemont; Nordstrom braces for luxury sales slowdown, adjusts H2 forecast; Mercedes-Benz secures battery production partner, eyes full EV transition by 2026; Sephora shuffles executive talent to focus in on global growth; Zegna announces official travelwear partnership with Real Madrid.
If international platforms can persuade Chinese luxury owners to consign parts of their collections accumulated over the past decade of shopping sprees, they will obtain a steady stream of inventory for years to come.
Luxury brands were relatively slow to experiment with ecommerce livestreaming, but this has changed rapidly since Louis Vuitton launched its first sales-enabled livestream on Xiaohongshu in March 2020.
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Fashion technology company Lyst has announced that founder Chris Morton is stepping down as CEO.
Despite the growing demand, it is no guarantee that this will necessarily translate into sales for established brands.
Richemont chairman Johann Rupert recently pointed out that the current global environment is the most unsettled it has been for many years.
