When It Comes to Luxury Price Hikes, the Party May Soon Be Over
For years, luxury brands have been raising their prices, simply because they could. But as raw materials get more expensive, and real inflation continues to rise, sophisticated shoppers may begin to look elsewhere.
Farfetch’s chief executive José Neves is reportedly conferring with top shareholders, including Richemont and Alibaba, and JP Morgan about delisting the company, The Telegraph reported on Tuesday. A take-private deal could happen imminently as Farfetch’s stock remains under pressure, according to the report. The e-tailer’s share price has plummeted more than 80 percent since its 2018 IPO.
Across its 53-year history, international art fair Art Basel has been quick to innovate, catering to a rapidly developing art market and its customers. Today, it is utilising its expertise to help fashion and luxury do the same.