April 12 was not a usual Friday at the Lafayette Art & Design Center in Shanghai’s Huangpu District. The Inside LVMH program culminated in a “discovery day” where 120 aspiring students gathered to interact with top LVMH executives, share fresh ideas for the future of retail, and hopefully find their dream career in one of the world’s top luxury companies. After the first Inside LVMH in Paris in 2016, the fashion house decided to stage…
It’s not surprising that the world’s largest luxury market – China – is also one of the biggest markets for luxury advertising. Advertisers shelled out $2.1 billion in China in 2017, 53 percent of which was invested in digital channels, according to a report from media agency Zenith. WeChat has become one of the most important digital advertising channels for luxury brands over the last year. Moments ads are one way for luxury brands to…
The esteemed fashion house and jewel of the Richemont luxury conglomerate, Chloé, hasn’t become one of the world’s leading global luxury brands by mistake. The Maison was founded in 1952 by French fashion designer Gaby Aghion, who revolutionized the industry through innovative ready-to-wear luxury lines that were made from rare and luxurious fabrics usually reserved for the high-end market. Today, the Chloé brand is a favorite among A-list celebrities and women who want to convey…
The esteemed fashion house and jewel of the Richemont luxury conglomerate, Chloé, hasn’t become one of the world’s leading global luxury brands by mistake. The Maison was founded in 1952 by French fashion designer Gaby Aghion, who revolutionized the industry through innovative ready-to-wear luxury lines that were made from rare and luxurious fabrics usually reserved for the high-end market. Today, the Chloé brand is a favorite among A-list celebrities and women who want to convey…
French luxury group Kering S.A., which owns Gucci, Yves Saint Laurent, Bottega Veneta, Balenciaga, Alexander McQueen, and others, released its first quarter earnings on April 17th after the markets closed in Paris. Investors had hoped that the luxury group would follow the same path as LVMH had the previous week, with its earnings beating expectations. Kering delivered, though only slightly. At the end of 2018, Kering was one of the major luxury brands that avoided…
In China, 18-30-year-olds currently account for two-thirds of luxury goods sales. Known as millennials, they make up roughly 12 percent of China’s population, or about 174 million people. As the biggest driver of the luxury market, it’s essential for businesses to understand their core values when it comes to luxury consumption. The latest report from creative agency Ogilvy China, “Making Luxury Brands Matter,” gets into the collective mind of this demographic through secondary and qualitative…
European jewelry brand APM Monaco has teamed up with private equity investors from China and Europe to accelerate its global expansion. On April 17, TPG Capital Asia (the regional arm of American asset company TPG), leading a consortium of investors including the investment firm China Synergy and Paris-based private equity firm Trail, has reached a definitive agreement with APM Monaco to acquire a 30 percent stake in the company from existing shareholders, according to a…
The way fashion is consumed has changed significantly over the last decade. A new era opened when social media gave customers and fans a voice, and brands were completely unprepared for it. Previously, these brands were the market influencers, and their power wasn’t challenged. But with the emergence of the China market, which has its own specific rules and an even more democratic social media approach, fashion brands need new marketing approaches to meet the…
Growing up in the shadow of the “sharing economy,” millennials around the world are now questioning all prevailing ideas surrounding ownership, and the luxury market is no exception. Renting luxury products is now a legitimate option for consumers, and the luxury rental business was a hot topic at the WWD Retail 2030 Forum at The Japan Society on April 3. At the conference, representatives from many Western brands listened intently as executives from luxury rental…
Growing up in the shadow of the “sharing economy,” millennials around the world are now questioning all prevailing ideas surrounding ownership, and the luxury market is no exception. Renting luxury products is now a legitimate option for consumers, and the luxury rental business was a hot topic at the WWD Retail 2030 Forum at The Japan Society on April 3. At the conference, representatives from many Western brands listened intently as executives from luxury rental…