BEIJING, China — China agreed to cut import tariffs on Swiss watches by 60 percent in 10 years as the two nations seek to expand trade, a move that may boost sales by retailers such as Hong Kong-based Hengdeli Holdings Ltd.
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.
BoF distills recent fashion stories from the French media.
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.
Back from a whirlwind trip to Mumbai, India, BoF’s editor-in-chief, Imran Amed reflects on the development of the local economy and the luxury goods and fashion market.