There’s no doubt that the global luxury goods market has been hit hard by the coronavirus pandemic – but how are manufacturers planning to bounce back when it’s all over, and what changes will they have to make? A recent Euromonitor report estimated that the global luxury goods market would decline by about 18 percent during the coronavirus crisis – the question is, can it ever regain its previous heights, and if so how long...
World famous jewellers Tiffany & Co has been bought by French luxury goods conglomerate LVMH for $16b. Apart from the Louis Vuitton, Moet and Hennessy brands which give it its name, LMVH also incorporates Christian Dior, Dom Perignon, Fendi, Givenchy, Bulgari, TAG Heuer, and Rihanna’s Fenty brand, among 75 luxury goods brands. In 2018 it claimed sales of €46b. Known for its ‘robin egg’ blue packaging, Tiffany & Co had suffered falling sales due to...
The French billionaire families that own two of the biggest luxury retail empires in the world have pledged a combined €300 million (£260 million) to help repair Paris’ iconic Notre-Dame Cathedral. The billionaire owners of the LVMH and Kering luxury goods groups have pledged a combined €300 million (£260 million) towards repairs to the fire-ravaged Notre Dame Cathedral. The Pinault family, owners of Gucci, Balenciaga, Alexander McQueen and Yves Saint Laurent parent company Kering, will...
