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Tag: luxury

Luxury brands turn from Hong Kong to mainland Chinese consumer

Zhang Peng | LightRocket | Getty Images Despite the economic shock of the coronavirus, analysts say China’s demand for luxury goods hasn’t waned much – and it’s drawing top brands from Hong Kong to the mainland. Consulting firm Bain estimated Chinese consumers accounted for about 35% of 281 billion euros ($317 billion) last year in global luxury …

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Luxury department store Harrods set to axe nearly 700 jobs – Retail Times

Following the news that the UK’s most iconic luxury department store Harrods, is axing nearly 700 jobs in a bid to cut down on costs after being hit hard during the pandemic, Andy Barr, retail expert and co-founder of online price tracking website www.alertr.co.uk, commented: “It seems the big-name stores are taking the biggest hit during …

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As APAC luxury markets sink by US$ 2.1 bn, brands turn to affordable luxury, says GlobalData

Luxury has been one of the most affected industries in the retail sector due to the COVID-19 pandemic. The crisis led to the closure of several luxury stores across the Asia-Pacific (APAC) region, bringing their revenue stream to a standstill during the first half (H1) of 2020. Against this back drop, brands are turning to …

As APAC luxury markets sink by US$ 2.1 bn, brands turn to affordable luxury, says GlobalDataRead More

DLF appoints Prashant Gaurav Gupta as Business Head – Luxury Malls

DLF has announced the appointment of Prashant Gaurav Gupta as the Business Head for the Luxury Malls of DLF. He has been with the Luxury Malls of DLF as the centre head for over two years. His tenure within the hospitality and luxury industry has spanned just short of two decades, 17 years of which …

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Dadu’s showcase the new emerging face of Indian contemporary luxury

Dadu’s utilises old-world charm and grandeur to showcase the new emerging face of Indian contemporary luxury. The Hyderabad outlet, designed by Dhruva Kalra of RMDK Architects is divided into two major zones. One houses the restaurant, while the other houses their sweet and ice cream junction. A wide array of materials, colours and textures have …

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Amazon wins trademark case in boost for online retailers vs luxury firms, Retail News, ET Retail

By : Foo Yun Chee BRUSSELS : Amazon is not liable for unknowingly stocking goods for third-party sellers that infringe trademarks, Europe’s top court said on Thursday, handing online retailers a victory in their battle against luxury goods companies. The case, brought by U.S. cosmetics company Coty’s German unit, illustrates the tension between brand names …

Amazon wins trademark case in boost for online retailers vs luxury firms, Retail News, ET RetailRead More

Luxury Brands’ Three Best Practices In Coping With COVID-19

The COVID-19 outbreak is taking a toll on the global luxury industry that is heavily dependent on the spending of Chinese shoppers at home and abroad. In spite of difficulties, leading luxury brands responded quickly to the crisis and took positive initiatives in brand communication, customer engagement, and digital marketing. Best Practice No. 1: Increase …

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6 Major Trends Reshaping Luxury Retail In 2020

Luxury retail is experiencing a paradigm shift. The traditional ways of doing retail are no more effective and require a radical makeover. Mobile commerce is blooming worldwide as growing number of consumers are using their smartphones to research, compare, purchase and return products. Does this mean brick-and-mortar stores are becoming passé? Absolutely true, many iconic …

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Mike Ashley’s Frasers Group snaps up stake in luxury brand Mulberry | Business

Mike Ashley has bought a 12.5% stake in the luxury British handbag company Mulberry as he seeks to push his retail empire upmarket. Ashley’s Fraser Group announced on Monday that it had bought the stake as a part of a “key strategic priority” to reposition his fashion group towards “premium third-party brands”. Ashley, 55, has …

Mike Ashley’s Frasers Group snaps up stake in luxury brand Mulberry | BusinessRead More