Asos Says It Will Take ‘Necessary Actions’ After 18% Drop in Sales
Asos has said it will take “necessary actions” to transform its fortunes after the fast fashion retailer’s first-half losses widened and sales fell by nearly a fifth.
Jewellery
Chanel Opens Its First US Store Dedicated to Jewellery and Watches
For years, the French luxury brand has been seeking a prime location along Manhattan’s storied Fifth Avenue.
BoF Masterclass | Selling Luxury to the 1%
Watch on demand a BoF Professional Masterclass that explores the topic in our Case Study, “How Brands Sell Luxury to the 1%”.
Luxury
Case Study | Selling Luxury to the 1%
The ultra-wealthy are spending more on luxury than ever before — and, amid a broader market slowdown, winning them over is becoming a competitive battleground for brands. BoF breaks down how strategies from Gucci, Mytheresa and Tiffany & Co. are successfully building closer relationships with top clients.
Case Study | Selling Luxury to the 1%
The ultra-wealthy are spending more on luxury than ever before — and, amid a broader market slowdown, winning them over is becoming a competitive battleground for brands. BoF breaks down how strategies from Gucci, Mytheresa and Tiffany & Co. are successfully building closer relationships with top clients.
Richemont Shares Surge As Demand for Cartier, Van Cleef Boosts Holiday Sales
Sales rose 8 percent year-on-year for the three months ending December 2023 to €5.6 billion, beating analyst expectations.
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The Year Ahead: How Fashion Is Responding to the Return of Global Travel
With travel expected to soon surpass pre-pandemic levels, The State of Fashion 2024 unpacks how brands and retailers are adapting to strategies to connect with vacation-focused consumers.
Richemont Sees Growth Easing as Economic Worries Rise
Shares in the Cartier-owner fell 6 percent after first-half profits missed forecasts.
Direct-to-Consumer
The DTC Watch Brands With Luxury Ambitions
Timepiece start-ups like Baltic, which went from Kickstarter campaign to producing $50K collector grade watches, and Christopher Ward, who is on track to reach $40 million in sales this year, are leveraging collector communities and innovation to take on high luxury watchmaking.
The DTC Watch Brands With Luxury Ambitions
Timepiece start-ups like Baltic, which went from Kickstarter campaign to producing $50K collector grade watches, and Christopher Ward, who is on track to reach $40 million in sales this year, are leveraging collector communities and innovation to take on high luxury watchmaking.
Retail
Case Study | Fashion’s New Playbook for Online Returns
The e-commerce boom may have cooled but online returns rates remain high, and the costs of processing them are more expensive than ever. BoF unpacks how retailers can reduce the costs of returns and protect profit margins, while improving customers’ shopping experience to generate higher sales.
Case Study | Fashion’s New Playbook for Online Returns
The e-commerce boom may have cooled but online returns rates remain high, and the costs of processing them are more expensive than ever. BoF unpacks how retailers can reduce the costs of returns and protect profit margins, while improving customers’ shopping experience to generate higher sales.
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How 2023 Became the Year of the Lab-Grown Diamond
Consumers — and the industry — are increasingly buying into lab-grown stones, altering long-held jewellery industry standards for how diamonds are sold.
How Brands Are Keeping the Pandemic Jewellery Boom Going
In response to heightened consumer desire for jewels that sparkle, small fine jewellery brands are finding success leaning into higher price points and more bespoke services catering to high-spending clientele.
Diamond Prices Are in Free Fall in One Key Corner of the Market
One of the world’s most popular types of rough diamonds has plunged into a pricing free fall, as an increasing number of Americans choose engagement rings made from lab-grown stones instead.
Inside Chanel’s ‘Ultimate Luxury’ Push: Jewellery, But Make It Tweed
The French house showcased its new Tweed-inspired high jewellery collection in London this week. CEO Frédéric Grangie sees the ‘booming’ category as a key opportunity to elevate the Chanel brand.
The News in Brief
TikTok Divest-or-Ban Bill Heads to Fast Track in US Congress
The effort to force TikTok’s Chinese parent company ByteDance Ltd to divest its ownership of the social media platform would quickly become law under a plan outlined Wednesday by House Speaker Mike Johnson.
Lagardère Group Launches Egyptian Edition of Elle Magazine
The French publisher has appointed Tunis-based firm Nissa Editions Group as the local licensing partner and Cairo-based fashion media veteran Susan Sabet as both managing director and editor-in-chief of the new title.
Report: FTC to Consider Blocking Tapestry’s $8.5 Billion Capri Takeover
The US Federal Trade Commission (FTC) is preparing to sue to block Coach parent Tapestry’s $8.5 billion deal to buy Michael Kors owner Capri Holdings, NYT Dealbook reported on Wednesday, citing people familiar with the matter.
Harvey Nichols Appoints New CEO
Harvey Nichols has named Julia Goddard chief executive following the departure of Manju Malhotra — who held the post for 25 years — in late 2023.
Emerging Designer Platform The Folklore Raises $3.4 Million
The capital injection will strengthen the company’s earlier pivot from being an African designer e-commerce site to being a business-to-business venture helping emerging brands enter global retailers.
Adidas Is Seeing Hot Demand for Sambas and Yeezys
The German sportswear company now expects to generate operating profit of around €700 million ($743 million), an increase from the previous target of €500 million.
Sephora, Perfumes and Cosmetics Drive LVMH Sales Growth
Amid a luxury slowdown, strong performance by LVMH’s perfumes and cosmetics and selective retailing divisions show a healthy appetite for beauty.