NEW YORK, United States — A Canaccord Genuity analyst is lowering her rating and price target for Coach, saying slowing traffic and tough competition from Michael Kors could weigh on the handbag and accessories company.
Today, BoF can exclusively share the findings of a new report by Euromonitor International, indicating that, in 2013, luxury goods sales will exceed $318 billion worldwide, representing a year-on-year real value gain of 3 percent, driven by emerging markets and ‘affordable luxury’ brands.
In the wake of Rana Plaza, it’s clear that voluntary self-inspection of garment factories by brands and retailers is not enough to avoid terrible human tragedy. Workplace health and safety standards must be set and enforced by the workers themselves, argues Tansy E Hoskins.
NEW YORK, United States — Straight from day seven of New York Fashion Week, BoF's contributing photographer Sonny Vandevelde brings us backstage images from the Michael Kors, Proenza Schouler, Jeremy Scott, Reed Krakoff, Anna Sui and Dion Lee shows.
LONDON, United Kingdom — Despite a string of positive results announcements, the Savigny Luxury Index (“SLI”) lost 0.9 percent in August, nevertheless outperforming the MSCI World Index (“MSCI”) by close to one percentage point, as markets shuddered at the prospect of foreign intervention in the Syrian conflict.
NEW YORK, United States — Strong demand for Michael Kors' luxury goods again propelled profit in its latest quarter, and the clothing, accessories and handbag maker lifted its outlook for the year.
NEW YORK, United States — Coach Inc., the largest U.S. luxury handbag maker, said fiscal fourth-quarter profit fell 12 percent as discounts and weak handbag sales hurt revenue in North America.
The Philippines has long been overshadowed by its larger neighbours and underestimated by international fashion brands. Now the country is reporting faster economic growth than China. BoF reports.
NEW YORK, United States — Michael Kors is suing Costco saying that it illegally used pictures of its luxury bags in its ads in order to lure in customers without being authorized to sell the designer's wares.