Bits & Bytes is a weekly roundup of the most important news in the fast evolving fashion-tech space.
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.
In less than four years, French luxury brand Chloé has quietly relaunched its second line and transformed its aesthetic, thanks to the company’s energetic new creative director and CEO. On the eve of the brand’s Paris runway show, BoF talks to Clare Waight-Keller and Geoffroy de La Bourdonnaye about their partnership and joint aim to turn Chloé into a globally recognised powerhouse.
Cie. Financiere Richemont SA, the world’s largest jewelry maker, had the weakest start to a year since the global recession as consumers held back on luxury- goods purchases in Hong Kong, slowing revenue growth from Asia.
Apple’s much-anticipated wearable device, which will reportedly debut this fall, may not pose a direct threat to luxury watchmakers. But it does signal opportunity.
The Savigny Luxury Index continued its upward ascent gaining over two percent this month, driven by positive newsflow and reassured prospects for the Chinese economy.
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.
GENEVA, Switzerland — Cie. Financiere Richemont SA, the maker of Cartier jewelry and Montblanc pens, reported unchanged full-year earnings, capping three years of growth, after China cracked down on bribery and extravagance among government officials.
CHIASSO, Switzerland — As luxury watchmakers seek to keep increasing sales while preserving exclusivity, they are taking a leaf out of the haute couture book, making watches to order with anything from diamond stars to fully personalised shapes and decorations.
Lack of clarity over the luxury sector’s performance in 2013 and prospects for 2014 caused a dip in the first half of January, reports Pierre Mallevays of Savigny Partners.
JOHANNESBURG, South Africa — Cie. Financiere Richemont SA’s online fashion retailer Net-a-Porter may be worth as much as 2.5 billion euros ($3.4 billion) based on a comparison with the possible value of German rival Zalando AG, according to Bank Vontobel AG.