With the support of L Real Estate, developer Craig Robins’ vision for Miami’s off-kilter luxury enclave is coming to life.
PARIS, France — French market regulator AMF said on Friday it was requesting to fine luxury group LVMH 10 million euros, the maximum sanction that can be proposed, in a probe into the build-up of LVMH's initial 17 percent stake in rival Hermès.
PARIS, France — Luxury goods group LVMH on Friday asked for the dismissal of a French market watchdog inquiry into the build-up of its first 17 percent stake in rival Hermès.
PARIS, France — LVMH Moet Hennessy Louis Vuitton SA will today respond to allegations by French market regulators that it breached disclosure rules in building a stake in rival Hermès International SCA.
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.
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.
BoF’s editor-in-chief reports from Sydney, Australia, on a local fashion market that’s being radically reshaped by the arrival of global fast fashion chains and the meteoric growth of international e-tailers.
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.
BoF distills recent fashion stories from the French media.
NEW YORK, United States — Áslaug Magnúsdóttir, co-founder and chief executive of Moda Operandi, has left the company. The news comes less than a year after the New York-based start-up raised $36 million in a Series C round of funding led by RRE Ventures, with the participation of existing investors New Enterprise Associates, New Atlantic Ventures and Condé Nast, as well as strategic investors IMG and LVMH. Magnúsdóttir, who has
In Japan, the arrival of powerful fashion retailers from Asia has been a theme this Spring. Korean retailer E-Land began opening stores in March, but last month saw the unveiling of the first stores for Charles & Keith, the Singapore retailer which does for shoes and accessories what H&M and Zara do for apparel. Japanese market intelligence provider JapanConsuming investigates.
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.
SHANGHAI, China — With flagging sales in their mainland stores and increasingly price savvy consumers, luxury companies are taking a leaf out of casinos' play books by offering junkets to wealthy Chinese clients eager to splurge in their Hong Kong stores.