Puig Targets €8 Billion in Annual Sales by 2032
Ahead of its first Capital Markets Day in Madrid, the Spanish beauty group has unveiled its “Vision 2032” and detailed its plans to grow its share of the global fragrance market.
Market Pulse
Luxury
How to Tap China’s Luxury Market As Recovery Falters
Luxury brands are betting on store upgrades, tax-free shopping and VIC strategies to drive sales in China, writes Pierre Mallevays.
Luxury
Luxury’s Race to the Top
Giants like LVMH and Kering enjoy scale benefits that are hard for competitors to overcome, but there’s still hope for smaller players, writes Pierre Mallevays.
Beauty
Kering’s Next Frontier: Beauty
The Gucci owner has hired former Estée Lauder executive Raffaella Cornaggia to lead its new beauty division, echoing the formation of the group’s eyewear unit in 2014. Why now for beauty and does this mean the beginning of the end of the licensing model for luxury brands?
Luxury
At Luxury Brands, Heritage Matters
In the long run, luxury brands that lean into timeless products consistently outperform their more fashion-driven peers, writes Pierre Mallevays.
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Luxury
Why Even Luxury Brands Can’t Quit Discounting
After avoiding markdowns for much of the last two years, many brands returned to their old ways this holiday season. Are discounts a necessary evil?
Financial Markets
The Risks of Celebrity Marketing
Kanye and Adidas, Johnny Depp and Dior: celebrity marketing can be a minefield as well as a goldmine — and social media has raised the stakes.
Luxury
Secondhand Luxury: Opportunity or Threat?
The luxury industry is divided on secondhand goods, with the likes of Balenciaga launching branded resale programmes even as top-end Chanel and Hermès hold out.
Luxury
Richemont’s E-Commerce Ambitions: End or New Beginning?
After negotiating a staged exit from Yoox Net-a-Porter in exchange for shares in Farfetch, the Swiss group could hold a 25-percent stake in the fashion platform within 5 years.
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Luxury
Will the Luxury Party Last?
Top luxury brands delivered strong first half results, propelled by a buoyant US market, a return to European travel and a cheap euro, but risks remain, writes Pierre Mallevays.
Luxury
How Big Can Luxury Brands Get?
Last month, Kering set a medium-term sales target of €15 billion for flagship brand Gucci, far beyond what conventional wisdom once deemed possible.
Financial Markets
Luxury E-Commerce: Crash or Correction?
In a little more than one year, luxury e-commerce stocks, from Farfetch to The RealReal, have plummeted from astronomical highs to trading at significant discounts to benchmark Amazon.
Luxury
Is Luxury Recession-Proof?
With the risk of global downturn rising by the day, the fate of luxury brands depends heavily on their positioning, writes Pierre Mallevays.
The News in Brief
Report: Puig, CVC, Cinven Eye Luxury Fragrance Maker Parfums de Marly
Private equity firms CVC Capital Partners and Cinven, along with Spanish beauty group Puig, are considering acquiring Parfums de Marly, the luxury fragrance brand owned by Advent International, two people familiar with the matter told Reuters.
Beauty and Home Care Drive Unilever Sales, Food Unit Falters
The UK conglomerate raised its annual volume growth forecast on beauty, personal and home care demand, despite a lagging food sector and the impact of geopolitical conflict on costs.
Carlos Nazario Appointed Editor in Chief of Wonderland
The fashion editor and stylist is reuniting with longtime collaborator Alastair McKimm, chief creative officer of Wonderland parent Visual Talent Ltd.
Aritzia Seeks to More Than Double Sales by 2032
New categories and brick-and-mortar expansion beyond North America are set to drive Aritzia’s quest to hit $10.5 billion CAD ($7.5 billion).
Pop Mart Quarterly Sales Fall Up to 50% as Labubu Fad Cools
Sales in the Americas fell 70 to 75 percent.
Zegna to Take Summer Fashion Show to Beijing
The Italian label has continued to enjoy solid growth in China, defying a wider downturn in demand for European luxury. The June 11 presentation of its summer collection will be the latest in a series of travelling shows.
Beiersdorf Sales Slightly Miss Expectations on Nivea Weakness
The German consumer goods maker marginally missed market expectations for third-quarter sales growth on Tuesday, with its key Nivea brand posting a third straight quarterly sales decline.