LONDON, United Kingdom — The Savigny Luxury Index (“SLI”) lost 1.5 percent in April, underperforming the MSCI World Index (“MSCI”) by almost two percentage points. Luxury spending in Europe has been hit by a drop in tourist demand, as well as price increases by brands seeking wider margins. The unusually cold weather, particularly in March, also contributed to weak demand for Spring/Summer ready-to-wear collections.
METZINGEN, Germany — Hugo Boss AG said first-quarter operating profit fell 11 percent as the German luxury-clothing maker changed its collection cycle and economic conditions remained difficult in Europe.
After stagnating in the wake of the global economic crisis, in recent seasons, the premium denim market has seen an uptick in consumer demand. BoF examines the forces behind the rebound.
NEW YORK, United States — When Salvatore Ferragamo wanted to reboot its classic Vara shoe style, it turned to young tastemakers and asked them to put their spin on it. The shoes, with their signature grosgrain bow, gold hardware and mid-height heel, ended up similar to the original; it's the attitude they're worn with that has changed.
With high street brands gaining momentum and high-end designers sitting out the shows, or showing collections lacking in creativity, Brazil’s local luxury fashion scene is facing something of an identity crisis.