The Business of Fashion
Agenda-setting intelligence, analysis and advice for the global fashion community.
Agenda-setting intelligence, analysis and advice for the global fashion community.
Luxury leather goods, jewellery and watches made $12.5 billion in sales in the country last year — roughly in line with the previous year, according to Euromonitor International.
The segment defied a wider slump that saw global sales drop 19 percent last year, KoreaBizWire reports, with sales of the top 10 brands exceeding 4 trillion won ($3.6 billion). The boost meant South Korea’s 2020 luxury sales outpaced those in Germany, making the former the world’s seventh biggest luxury market.
Menswear, in particular, is flourishing. Shinsegae Department Store reported this week that sales of luxury items for men increased 68 percent year-on-year between January 1 and April 16. Its men’s luxury business reported a sales boost of 106 percent and 102 percent for March and April respectively, compared to 93 percent and 79 percent figures for luxury segments aimed at women.
The timeless appeal of the south Asian classic has gone global — and a new London exhibition shows how it has been reinvented.
The second edition of Oud Fashion Talks explored the forces transforming the Gulf’s fashion industry today, with key learnings from BoF Insights’ ‘Fashion in the Middle East’ report and from executives of local retailers, manufacturers, designers and entrepreneurs.
Accessible luxury and advanced contemporary brands in the US and Europe can expect greater competition from Australian labels expanding overseas like Camilla, Aje and Rebecca Vallance.
The Ugandan-born model how he is finding purpose in pursuing an unconventional career to support his family and the community he comes from.