Just after Burberry’s nice third quarter results prompted a rash of headlines (including in this paper) about positive returns “easing [the industry’s] China slowdown fears,” especially when combined with similar happy stories from Swatch and Tiffany, today we came down to earth with a bump courtesy of Richemont. In their third quarter trading statement, things looked not so rosy in China. In fact, they looked pretty doldrum-like. Read more
So after the Louboutin vs YSL tangle over the use of red soles, we have Thomas Pink vs Victoria’s Secret over the use of pink. See, Pink likes to refer to itself as…well, PINK. And VS, since 2001, has had a secondary line aimed at tweens and 20somethings called (under 32 different trademarks, including “Pink Beach,” “Aolha Pink” and “Oh what fun is Pink”) VS Pink. And therein lies the conflict.
Today my colleague Scheherazade Daneshkhu has written a terrific piece about the luxury race to the vertical – the move among the big groups to own not only their own manufacturing and retail, but their suppliers – and lo! what should happened but yet more proof of the trend: Loro Piana has bought a majority stake in the Argentinian alpaca producer Sanin SA. It ain’t just about leather and python anymore: now fibers are in the mix. And I wonder how far it will go?
Forget clothes; the red carpet is all about the jewellery now. Would be that of an after-awards morning my in-box would be full of who-wore-what emails. Not any more! Now it’s jewels, all the way down (or pretty much). Yet I can’t help feeling that there’s a difference between fine jewellery and clothes, even really expensive clothes, and the “if-it-worked-for-fashion-it-will-work-for-gems” theory is wrong. Read more
Today Ledbury research is publishing their “CEO Sentiment Indicator,” an exciting document in which they chart the words of luxury execs as they reveal the thoughts of said execs about how things are shaping up for the future. They gave us an exclusive peek at it before release. And guess what? They are not feeling the love.
Let’s do a quick recap here: in the last two years the Qatari soverign wealth fund has bought all of Harrod’s and a 5.2% stake in Tiffany’s; the Qatari royal family bought Valentino; and yesterday, it was announced that An Unnamed Qatari Investor had bought 38% of Anya Hindmarch. There’s a new luxury player in the land, and he – or she — is spending! But who is this masked man? And why are the Qataris suddenly making such a big play in luxury? Read more
Luxury brands from PPR to LVMH may be announcing more banner results this month, but according to a new report from UK luxury consultancy Ledbury Research, their CEOs are probably a lot more worried about the industry’s prospects in 2012 than they are letting on. Read more
And so yet more proof lands in the in-box that people are still buying luxury – and this time I’m not talking about the products. I’m talking about stocks. Hot on the heels of the revelation that Qatar’s sovereign wealth fund has bought a 5% stake in jeweler Tiffany comes the news that luggage maker Tumi’s value was up by over 50% after their IPO yesterday raised $338 million.
The Interbrand 100 best global brands list 2010 just came out, and there was some interesting (or depressing, depending on your perspective), movement in the luxury rankings. Read more