Business & Trends
The Richemont Group is teaming up with Chinese online sales giant Alibaba for a major investment in Farfetch, to open up new luxury channels in China. This deal reflects the acceleration of the digitalization of sales, but it could definitively shift the strategic center of gravity of luxury goods from Europe to China.
Nicolas Bideau, director of Presence Switzerland and the country’s ambassador abroad, believes that luxury has no choice but to bet on sustainability. He talks about the values that make Made in Switzerland a quality label on an international scale. Even in times of crisis.
In an exclusive interview, François-Henry Bennahmias, CEO of Audemars Piguet, explains how the pandemic has pushed him to radically change his relationship to clients, as well as towards his colleagues.
This spring, luxury brands have accelerated their move on e-commerce platforms. In an exclusive interview, Violaine Gressier, head of the luxury department for Facebook France, explains the evolution of the American giant’s strategy to increase its market shares in the luxury sector.
How is the Italian fashion Quadrilatero facing the drastic decrease of luxury tourism? Guglielmo Miani, president of the MonteNapoleone district shares his solutions in an exclusive interview.
By Gaia Passi
When Covid-19 hit earlier this year, most luxury spending plummeted and the jewelry industry was heavily impacted. There are some reports of increased sales at ultra-high-end retail, while other sectors have been decimated. Here, we explore the unlikely impacts of Covid-19 on the jewelry industry, and it’s not all bad.
The last quarter of 2020 will be the watchmaking brands’ main challenge, as they try to get back on track. Without any mid-term visibility, some signals will help foresee growth potential for 2021. In our radar: Hainan, latest Chinese duty-free mecca, and an under-estimated power of the brand community.
Instead of selling-off their inventory, luxury boutiques have to adopt an agile and analytical strategy in order to dispose of their stock and increase their margins. That’s the conclusion of the last study “A Three-Season Strategy for Fashion and Luxury Retailers” of the Boston Consulting Group.
Like most industries, Swiss watchmaking took some heavy hits from the pandemic, but the sector was already in the midst of a profound transformation. And according to Deloitte’s 2020 Industry Study, it looks set to come through it stronger.
In September, when Burberry chose Twitch to showcase its new collection, luxury brands sat up and took notice, not only of the collection but more importantly, of this live streaming platform. And it’s about time, considering it already has more than 140 million monthly users, particularly in the highly sought-after Generation Z demographic.