The Savigny Luxury Index lost ground in October, as consumer appetite for mega-brands continues to cool and management changes shake up the industry.
The Savigny Luxury Index has gained good ground in September and is up by 3.7 percent, outperforming the MSCI World Index by over one percentage point, as Asian tourist flows to Western fashion hubs remain strong and the world’s largest luxury conglomerates snap up young designers, reports Pierre Mallevays of Savigny Partners.
Sales of luxury goods are slowing and, given the uncertain outlook, investors are taking profits, reports Pierre Mallevays, founder and managing partner of Savigny Partners.
LONDON, United Kingdom — Mulberry Group Plc Chief Executive Officer Bruno Guillon has some catching up to do. After cutting forecasts twice in his first year at the helm, the 47-year-old CEO is pledging to return the British luxury-goods maker to growth in the next 12 months, even without the help of Mulberry’s celebrated creative director.
LONDON, United Kingdom — British luxury fashion group Mulberry defended its plans to move further upmarket, saying it was crucial to expansion plans in Asia, where local shoppers and outbound tourists are still spending heavily on top-end lines.