BoF compiles the most important professional moves of the week.
Bits & Bytes is a weekly roundup of the most important news in the fast evolving fashion-tech space.
The Savigny Luxury Index fell a further 3.8 percent this month. The outlook for the luxury goods sector darkened as disappointing results from industry leader LVMH showed how the strong euro and political protests in Hong Kong were curbing spending and hitting profits.
In the year and a half since its opening, The Broken Arm in Paris has become a magnet for the same mix of industry creatives that frequent influential concept stores like Colette thanks to its focused, personal buys, popular in-house café and a local-global outlook that gives the store a “double rhythm.”
The $1.6 billion company, which operates e-commerce sites for designer brands including Armani and Moncler, is poised to boost sales by about 75 percent over the next three years.
As consumption slows and global pricing differences become more transparent, strategies that price luxury goods significantly higher in China are unsustainable.
Amazon.com Inc. on Wednesday said it will invest a further $2 billion in India just a day after the country’s largest e-tailer Flipkart attracted $1 billion of fresh funds, raising the stakes in a nascent but fast-growing e-commerce sector.
Flipkart.com, India’s biggest online retailer, raised $1 billion as investors, including Tiger Global Management LLC and South Africa’s Naspers Ltd., increased their stakes.
The China Edit is a weekly curation of the most important fashion business news and analysis from and about the world’s largest luxury market.