NEW YORK, United States — A Canaccord Genuity analyst is lowering her rating and price target for Coach, saying slowing traffic and tough competition from Michael Kors could weigh on the handbag and accessories company.
Today, BoF can exclusively share the findings of a new report by Euromonitor International, indicating that, in 2013, luxury goods sales will exceed $318 billion worldwide, representing a year-on-year real value gain of 3 percent, driven by emerging markets and ‘affordable luxury’ brands.
A New York-based startup aims to drive sales by integrating user-generated photos posted to Instagram, Twitter and Facebook directly into e-commerce sites.
Market sentiment has turned back in favour of the luxury sector, driven by solid second quarter results, reports Pierre Mallevays of Savigny Partners.
NEW YORK, United States — Coach Inc., the largest U.S. luxury handbag maker, said fiscal fourth-quarter profit fell 12 percent as discounts and weak handbag sales hurt revenue in North America.
NEW YORK, United States — Coach Inc. will reduce its departing chief creative director Reed Krakoff’s annual bonus by $3 million if a binding agreement for the sale of his label isn’t reached by July 29.
NEW YORK, United States — Coach Inc. has fought for relevance in recent years by introducing bling-laden products to attract younger shoppers and then bringing back more classic lines for its long-time customers. Yet the company remained true to its roots: finely crafted leather bags.
LONDON, United Kingdom — Louis Vuitton is losing ground as the world’s most valuable luxury brand as competitors including Gucci and Prada gain, a new research report shows.
HONG KONG, China — Armed with empty suitcases and same-day return tickets, an army of mainland Chinese is descending on suburban outlet shopping malls and international fashion chains in Hong Kong, turning cheap into the new chic as luxury falls out of favour.
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.