While some companies have denounced the use of crocodile, snake and ostrich skins to make high-end leather goods, others are doubling down on the product category.

The Prada and LVMH-backed Aura Blockchain Consortium is rolling out a shared solution for brands to distribute NFTs. But leveraging blockchain for issues like fighting counterfeits and tracing materials is still in its early stages.

Fashion sales grew by 30 percent in the first quarter, beating expectations, despite a rocky start in the Chinese market, the world’s largest luxury group said.

This week, everyone will be talking about LVMH’s latest results, the return of Coachella and an important US inflation gauge.

The Uniqlo owner said it will continue to operate in Russia, even international pressure in response to the country’s invasion of Ukraine sees waves of companies pull out.

The sanctions against the Russian diamonds now have the diamond trade at the centre of the war, and could send jewellery companies reeling.

Companies are also continuing to pledge humanitarian aid, while the LVMH Prize said it will offer support to its three former semi-finalists from Ukraine Friday.

Wealthy tourists are key to the recovery of the Australian luxury market but analysts predict that the sector won’t return to pre-pandemic levels until next year.