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.
The eveningwear brand has entered into a global licensing agreement with Blackbox Global Luxury Group (GLG), which specialises in the high-end segment of designer and contemporary brands.
The line will consist of 28 ladies’ timepieces which will launch globally online for international sale and in-store for Spring/Summer 2021, unveiled on February 11.
“The launch of Elie Saab Timepieces marks an exciting new chapter, where together we will bring the brand to women around the world, both life-long customers of the house and a new following,” Blackbox GLG founder and chief executive Rico Pross said. “We are confident this shared vision will be a successful partnership for years to come.”
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.