Today, British footwear label Nicholas Kirkwood opens its first own-brand presence in China, in partnership with Beijing department store Shin Kong Place. BoF sat down with the designer and CEO Christopher Suarez to find out how this new ‘jewel in the crown’ fits into a global retail strategy propelled by investment from LVMH.
The Savigny Luxury Index turned around in mid October as confidence in the US economy returned and the US Federal Reserve ended quantitative easing.
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.
LVMH Moet Hennessy Louis Vuitton SA, the world’s largest luxury-goods maker, reported third-quarter revenue that met analysts’ estimates as improved growth in Europe and the U.S. compensated for slowdown in Asia.
Worldwide luxury-goods sales could increase this year at the slowest pace since 2009 as spending falls for the first time in China and turmoil in Hong Kong and Russia curbs tourist consumption.
With a few notable exceptions, luxury brands remain slow in building digital capabilities, revealed a report released by Exane BNP Paribas.
The Savigny Luxury Index fell sharply over the month, losing 4.2 percent versus a flat MSCI World Index, as the industry suffers from a general slowdown and a red alert situation in Hong Kong.
The Swiss watch market is growing at a slower pace than expected, leading to reduced production and job cuts at the Tag Heuer brand, according to the head of LVMH Moet Hennessy Louis Vuitton SA’s timepiece unit.