Just the right amount of hand-picked luxury marketing news and market intelligence
:: FACETS ::
→ (WSJ) LVMH Doesn’t Have the Luxury of Pulling Back From China: The country’s economy is sputtering and geopolitical tensions are rising, but Chinese shoppers are the growth engine for the maker of Louis Vuitton, Dior and Hennessy. Read more
→ (Designboom) Hublot’s big bang Depeche Mode watch marks the band’s comeback after 6 years: Hublot unveils the Spirit of Big Bang Depeche Mode watch, a timepiece design that marks the British band’s album and world tour comeback for its 15th studio album, Memento Mori. Read more
→ (WWD) LVMH Launches 22 Montaigne Entertainment: LVMH Moet Hennessy Louis Vuitton, the world’s dominant luxury group, is getting into the Hollywood entertainment business in a bigger way, creating a new division to explore possibilities for its 70 brands. Read more
→ (Yahoo Finance) Why Lotus thinks its luxury EV game plan will succeed globally: Lotus went public on Friday when it merged with an LVMH-backed SPAC. Read more
→ (Bloomberg) Swiss Watch Exports Struggle as Luxury Slowdown Persists: Swiss watch exports rose modestly in January as growth slowed and weak demand for luxury and mid-priced watches dragged on the sector. Read more
→ (Fashion United) Yoox Net-a-Porter launches virtual try-on pilot for Mr P.: Online luxury retail group Yoox Net-a-Porter has launched its first virtual try-on experience for apparel for Mr Porter’s private label for menswear Mr P. Read more
→ (Decrypt) The Entire Luxury Industry Is About to Embrace Crypto, Says Aura CEO: Luxury brands, in part thanks to a new EU law, are set to embrace on-chain digital passports connected to their products. The Aura Blockchain Consortium is leading that charge. Read more
→ (FT) Accor in talks with Dubai Holding to fund Orient Express superyachts: French hotel group’s plan for two superyachts underlines growing Middle Eastern interest in luxury travel sector. Read more
→ (Barron’s Penta) ‘Wealth Creation Is Back’—U.S. Poised for Huge Growth in Ultra-Rich Population: The number of those worth $30 million or more rose 4.2% last year, with the U.S. set for a surge of over the next five years. Read more
→ (WWD) Saks Survey: Consumer Optimism Not Lifting Luxury Sales: Luxury shoppers might be feeling good about the economy and their own finances — but not good enough to spend more on luxury goods. Read more
Flash Stats: 59% of affluent millennials who make at least $250,000 a year feel it is important to “look or appear” financially successful to others. More than 40% said it’s important to have visible signs of wealth, whether it be purchasing a fancy car, clothing, or place to live. By comparison, just 21% of Gen Xers, 8% of baby boomers, and 7% of the silent generation feel the same. (Wells Fargo study, 2024)
:: PODCASTS ::
Catch up on my latest interviews with luxury industry leaders and entrepreneurs ↓
The Luxury Item podcast: John Gerhardt, Global Creative Director at Moët Hennessy
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