The Savigny Luxury Index (“SLI”) continued to rise and gained almost seven percent over the month.
The new head of TAG Heuer, luxury group LVMH’s biggest watch brand, has replaced half a dozen top managers as part of a drive to revive sales.
Prada SpA reported full-year sales that trailed estimates as fewer Chinese shoppers splurged on $2,950 leather handbags and other luxury products.
Japan’s economy is hobbling out of a recession, inflation is a quarter of the central bank’s target and wages adjusted for price changes fell last year. And yet sales of luxury goods are growing and the stock market hita 15- year high.
If in fashion, being late on a trend can be lethal, playing catch-up in terms of business strategy can be just as damaging. Prada is learning that lesson the hard way.
The Savigny Luxury Index started the year on a high as it gained almost five percent over the month.