💎Brilliant Cut No. 11:

Jaguar's Reinvention, Tiffany Blue Basketball, Luxury Leans Into The Metaverse, Ralph Lauren Hot Dog Stand, North Face x Gucci The Top Collab, Shiseido Bets on Luxury Skin Care, and More

Jul 1, 2021

Welcome to this edition of Brilliant Cut, a free monthly newsletter that helps you smartly navigate the most important luxury marketing stories and insights.

Issue #11 | July 1, 2021

Ferrari’s brand diversification takes shape

(WWD) It’s hard to argue with Rocco Iannone’s opening remarks. “Ferrari is mythical,” said the brand diversification creative director. “Ferrari’s community recognizes itself in a series of values that is unique to the label and that need to be understood to be translated into fashion.” Read more

Hermès entering Detroit market as retail count in U.S. grows

(WWD) Hermès is ramping up its retail presence in the U.S. The French luxury brand this week will open its first store in the Detroit market, a 5,000-square-foot boutique at the Somerset Collection mall in Troy, Mich., about 30 miles outside the city. The Michigan store is one of several the brand has planned for this year in the run-up to its major move: the consolidation of its two existing Madison Avenue stores into one massive flagship nearby in the fall of next year. Read more

Cartier warns of an “overheating” in the luxury sector

(Newsline) French Cartier President Cyrille Vigneron warned that due to the strong economic recovery in some market segments and the slow resumption of production, the luxury goods market is “overheated.” Read more

Jaguar's next turnaround plan outlines a major shift to upmarket luxury

(AutoBlog via Yahoo) Jaguar wants to reinvent itself again, this time as a purveyor of EVs that competes in the luxury space dominated by Bentley. It outlined a turnaround plan written to help it move upmarket while launching a new range of models. Read more

Tiffany’s blue basketball and skateboard should cost an arm and a leg

(Input) Tiffany Blue is basically the rich(er) person’s Supreme Box Logo — whatever it appears on, someone will part with a not-insignificant amount of money for. And as we’re seeing now with the former’s Sport collection, sometimes there’s even a crossover with the items at hand. Read more

ResortPass allows you to book day passes ay luxury resorts

(Travel + Leisure) ResortPass is one travel company making all the luxuries of a resort vacation more accessible, since it allows users to enjoy pool, spa, and amenities without booking a full stay at a resort. Read more

Why luxury brands are doubling down on Roblox

(Glossy) Gucci made a splash in May when a virtual Gucci bag sold in the video game ecosystem Roblox for $4,115, more than the tangible purse, which retails for $3,400. It’s easy to see why the luxury brand is doubling down on Roblox experiences. Read more

Sotheby’s unveils a replica of its London H.Q. in the blockchain world Decentraland

(Artnet) The world’s oldest auction house has officially entered the newest realm of commerce. This week, Sotheby’s is opening a replica of its London galleries in the Ethereum-powered metaverse Decentraland. Read more

Veering off course, Porsche jumps into NFT craze with crypto-inspired trading card business

(Fortune) No longer content to just build luxury sports cars like the 911, Porsche believes it needs one wheel in the digital economy as well to remain innovative. The answer: It’s embracing the latest investor craze, NFTs. Read more

Diamonds have gone digital

(Wired UK) A new generation consumers are doing much more than keeping luxury coffers full, they’re changing the entire jewelry world. Read more

1stdibs CEO discusses pandemic-fueled boom in luxury e-commerce

(Observer) The online antique and collectibles marketplace 1stdibs bet on the shift early. Started in 2000 with the vision of bringing the magic of the Paris flea market online, the company is built on the risky premise of taking an exclusive, experience-oriented business to the wide-open internet. Read more

Dior launches Dioriviera pop-up experience at luxury hotel in Southern California

(Complex) Dior has launched a new pop-up experience at the Rosewood Miramar Beach luxury hotel in California. Read more

Ralph Lauren is touring the country with its new hot dog stand

(Vogue) To celebrate Polo Ralph Lauren’s new capsule collection with Major League Baseball—which includes satin jackets, polo shirts, and caps emblazoned with team logos including the Yankees, Cardinals, and Dodgers—Ralph Lauren has retrofitted a vintage trailer into a traveling Ralph’s concession and a hot dog stand. Read more

Bentley tells the story of great leaders and their cars in exclusive new series

(Auto Evolution) Just like Hollywood stars were the ones that made fashion brands famous back in the day, celebrities play an important part in car brands’ rise to worldwide notoriety. But there are so many other people who are leaders in all sorts of fields and who are also part of a brand’s success. These leaders and their inspiring success stories are what Bentley is celebrating. Read more

Saint Laurent celebrates 40 years of Memphis Group

(Wallpaper) Memphis Group’s milestone birthday is celebrated with a series of colourful furniture installations across the French maison’s concept boutiques Read more

Luxury home sales soar

(USA Today) Since the start of the pandemic, Americans looking to buy a home have struggled with bidding wars and a limited number of houses for sale. But one area of the cutthroat real estate landscape is improving. It's the luxury segment, where listings are up and homes are selling at a rapid clip. Read more

Purpose drives resilience, brand value of top Italian luxury brands

(WWD via Yahoo) The top 10 Italian luxury brands were able to increase their brand purpose index despite the pandemic. According to the BrandZ 2021 Top 10 Most Valuable Italian Luxury Brands ranking published today by Kantar about the country’s top luxury companies, the first 10 firms saw their brand purpose index increase in the high-single-digit range on average year-over-year. Read more

Total global wealth rose to US$431 Trillion in 2020

(Barron’s Penta) Global wealth soared last year, even during the economy-straining pandemic, with financial assets held by individuals jumping 8.3% to a record US$250 trillion, Boston Consulting Group (BCG) reported. Read more

The 2021 "True-Luxury Global Consumer Insight" from Altagamma x BCG

(Boston Consulting Group) Based on the study, US consumers are back and Chinese will continue the trend of repatriation. True-Luxury brand agility and continued demand helped the top of the consumer pyramid grow its spend significantly, even in the midst of the pandemic. Download it here (pdf)

Demand for sustainable fashion could double the resale market to $77 billion in the next 5 years

(Robb Report) Driven in large part by a consumer shift to a sustainability ethos, the secondhand market is poised to more than double in size to $77 billion over the next five years, according to ThredUp’s 2021 Resale Report. Read more

Shiseido bets on luxury skin care and China's fickle consumers

(Nikkei Asia) Tokyo's Ginza is suffering, bereft of the throngs of Chinese tourists who used to step off buses every day eager to shop in its tony emporiums. But one time-honored boutique is using the lull to upend the shopping experience. Read more

Consumer confidence in China returns to pre-pandemic levels

(Rudder Finn) According to the 2021 China Luxury Forecast report by Ruder Finn and Consumer Search Group, consumer confidence has returned in China indicating an upcoming boost in the luxury market. Read more

Chinese Luxury Top 10 Ranking for March 2021

(NPD) New ranking of top luxury brands in China based on NPD's monthly transaction data. Valentino topped the growth ranking for all-around brands; Harry Winston and Graff posted triple-digit growth and topped the watches and jewelry category. Read more (pdf)

Welcome to China’s new neighbourhood stores

(Vogue Business) In China’s cities, the physical store could make a comeback as a small, locally focused experiential retail proposition in neighbourhoods with authentic character. Read more

Jing Daily’s weekly roundup of the latest luxury social media campaigns in China

📲 June 4, 2021 // June 25, 2021

Girard-Perregaux and Aston Martin team up for an airy new tourbillon watch

(Robb Report) Girard-Perregaux launched its new Tourbillion with Three Flying Bridges, the first product of its young partnership with Aston Martin. The eye-catching timepiece comes in a limited series of 18 pieces, each priced at $146,000. Read more

What the Stadium Goods and Christie’s collab says about the state of sneaker resale

(Vogue Business) How to stand out in a fiercely competitive sneaker resale market? Farfetch-owned Stadium Goods is partnering with luxury auction house Christie’s to tap some very high-end customers. Read more

The North Face x Gucci: the most sought after collaboration of 2021

(Wallpaper) The Lyst Index’s quarterly report sees the collaboration between the Florentine house and the American outdoors expert top its most sought after chart. Read more

Veuve Cliquot teamed up With Yayoi Kusama to bring its latest bubbly to the New York Botanical Garden

(Robb Report) Instead of hosting its celebrated Polo Classic this year, Veuve Cliquot is giving New York locals and visitors the chance to enjoy its limited-edition La Grande Dame 2012 Champagne at the New York Botanical Garden. Read more

Saks Fifth Avenue says BIPOC talent will make up 40% of leadership roles by 2023

(Robb Report) Saks Fifth Avenue is making bold new commitments aimed at amplifying diversity, equity and inclusion across its workforce. Read more

LVMH partners with Canopy on sustainable initiatives

(FashionUnited) LVMH has announced a new partnership with environmental not-for-profit Canopy as it looks to strengthen its commitment to forest conservation. Read more

Burberry pledges to become climate positive by 2040

(Robb Report) Forget climate neutrality, Burberry has bigger plans. On Thursday, the British fashion house announced that it intends to be climate positive by 2040, becoming the first luxury brand to make the pledge. Read more

Gucci introduces animal-free material

(WWD via Yahoo) After two years of in-house research and development, Gucci today is unveiling an innovative and groundbreaking animal-free luxurious material called Demetra. Read more

Canada Goose will stop using fur in all products by the end of 2022

(Business Insider via Yahoo) Canada Goose is going fur-free after years of pressure from animal rights activists to do so. Read more

We just wrapped up the third season of The Luxury Item podcast. Thanks to my listeners and guests for making it the #1 luxury business podcast.

💍 Season 4 kicks off on July 1 with Mona Akhavi, CEO of lab-grown diamond jewelry line VRAI. Mona talks about how lab-grown diamonds are shaking up the world of fine jewelry Apple / Spotify

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✨Mixed Gems: Featured writers on luxury, fashion, and culture✨

To enjoy a luxury watch, you don’t really need to own it

Robin Swithinbank from the New York Times says a watch rental market is emerging among major brands as a way to engage with a younger generation that is squeamish about buying. Read it here

Meet the 60 year old can of poop that explains contemporary fashion

Highsnobiety editor-in-chief Thom Bettridge says the new luxury flexes knowledge, not wealth. Read it here

Thank you for reading this,

Scott

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