The luxury label is one of the first international brands to open an official account on the booming Chinese social media and e-tail site, also known as Red, visited each month by 200 million consumers.
The rumoured launch by LVMH of a global label with pop star Rihanna is now official and imminent. Heralded for this spring, the label is called Fenty, the name of some of Rihanna’s existing product lines.
If any senior LVMH executive is looking very smart these days it surely is Pietro Beccari, the CEO of Christian Dior Couture, who just oversaw his house’s path-breaking cruise 2020 collection runway show in Marrakech.
According to a McKinsey study, China’s luxury expenditure is expected to be worth €159 billion and have a 40% share of the global market by 2025, driven by rising middle class expenditure and consumers born in the '90s.
A French mediator has been appointed to try and resolve a power struggle at the top of the world's largest eyewear-maker EssilorLuxottica that has plunged the recently merged group into crisis, a source said.