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.
A luxury concept store in Paris’s posh 8th arrondissement is shutting down after 17 years in business, its founder Liliane Jossua said in a post on Instagram Tuesday.
Montaigne Market, which had relocated from Avenue Montaigne (the shopping destination known as the birthplace of Christian Dior) to nearby Avenue Matignon last year, was known for its girly edit of luxury items mixing unabashed jet-set glamour and more laid-back, bohemian-chic looks.
The shop sold Paris luxury stalwarts like Saint Laurent and Balmain, as well as being an early champion of contemporary Paris houses like Isabel Marant and Alexandre Vauthier.
Even before the pandemic, the 8th arrondissement’s shopping district anchored by top-end hotels like the Plaza Athénée and Bristol, had been struggling to bounce back from Yellow Vest protests which saw stores ransacked and their windows regularly barricaded during 2018 and 2019.
Hermès’ elusive sales strategy is at the centre of a new legal challenge for the French luxury giant. BoF breaks down the practices under scrutiny and what the suit could mean for the fashion industry at large.
A sharp drop in the label’s Asia-Pacific sales is the latest sign that Chinese luxury demand is cooling.
This week, Kering flagged sales were down 20 percent at its flagship brand, knocking confidence in the group’s turnaround strategy. ‘A more drastic solution is required,’ one analyst wrote.
A new creative configuration will be announced soon, the Roman couture house said.