The Savigny Luxury Index turned around in mid October as confidence in the US economy returned and the US Federal Reserve ended quantitative easing.
BoF editor-in-chief Imran Amed recaps the week in the business of fashion.
With a few notable exceptions, luxury brands remain slow in building digital capabilities, revealed a report released by Exane BNP Paribas.
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.
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.
Kering reported second-quarter revenue exceeding analysts’ estimates as surging demand for Saint Laurent helped compensate for falling sales of Gucci.