By 2025, 70% of luxury consumers will be aged below 40, forcing labels to revise their approach and values, broadening them to include more culture-based elements, according to the latest study by Bain & Co.
Nordstrom Inc said labor costs pinched its quarterly profit and warned of product shortages at its off-price stores heading into the holiday season, sending its shares down 23% in extended trading on Tuesday.
Richemont is moving its enterprise IT infrastructure to Amazon Web Services in a deal to drive more dynamic e-tail experiences, more personalisation, better supply chain management and many other benefits.
Investors are usually forgiving of tech firms when they spend years targeting the kind of profitability they’d like, but they weren’t forgiving Farfetch on Thursday as the firm’s shares fell 22% in late trading.
Cartier has added to their festive video colleciton with a new short featuring 12 Friends of the House. Boldface names like Lily Collins, Willow Smith and rapper Jackson Wang star in choral scenes released Tuesday.
The Richardson, Texas-based watch specialist announced on Wednesday that it achieved net income of $31.4 million in the third quarter, close to double the $16.0 million reported by the company in the prior-year period.
Thailand's Central Group is interested in bidding for Selfridges, a report said Thursday. Interestingly, it also owns La Rinascente, the Italian retailer of which ex-Selfridges CEO Vittorio Radice is Vice-Chairman.