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.
Best known for ornate, made-for-the-red-carpet gowns that can cost upward of $10,000, the Lebanese fashion designer has joined the internet giant’s upscale retail play.
Just last week, The Conservatory, opened in 2019 by former Forty Five Ten-owner Brian Bolke, announced that it would be the first multi-brand concept store to join the platform.
Amazon launched its Luxury Stores division in September, with an aim to compete against the likes of Farfetch and Net-a-Porter, selling itself as a more flexible alternative for brands that want to tap into Amazon’s arguably unparalleled back-end technology but also want to control the user experience. Since then, the company has hired fashion industry veteran Trisha Gregory as chief brand officer of its Luxury Stores division, and longtime American Vogue editor Sally Singer as head of fashion direction.
Users must currently be invited to shop the Amazon Luxury Stores, which can only be accessed via the retailer’s app.
The luxury goods maker is seeking pricing harmonisation across the globe, and adjusts prices in different markets to ensure that the company is”fair to all [its] clients everywhere,” CEO Leena Nair said.
Hermes saw Chinese buyers snap up its luxury products as the Kelly bag maker showed its resilience amid a broader slowdown in demand for the sector.
The group’s flagship Prada brand grew more slowly but remained resilient in the face of a sector-wide slowdown, with retail sales up 7 percent.
The guidance was issued as the French group released first-quarter sales that confirmed forecasts for a slowdown. Weak demand in China and poor performance at flagship Gucci are weighing on the group.