What President Trump means for retailers. How will the Trump victory impact other industries?
Here's what we know about the President-elect. After a long election night that defied many pollsters' predictions, Donald J. Trump is set to become the next president of the United States, beating out Democratic rival Hillary Clinton by razor-thin margins in key battleground states. The specifics of what this election means for the retail industry will become clearer once Trump and his team produce a budget and lay out their policy agenda. But regardless of the winner, American consumers signaled they aren't happy with the current political climate, with both Trump and Clinton facing historic levels of unfavorability. “Next January is legislative spring,” David French, senior vice president of government relations at the NRF, told Retail Dive before the election. Prada seeks younger customers in bid for growth. Image copyright AP Italian luxury fashion group Prada has predicted a return to growth as it seeks to connect with younger customers through online sales and flexible pricing.
First half profits fell 25% to €330m (£282m) due partly to falling demand in China and Italy. But Prada said it saw 2016 as "a turning point. " It has been reviewing prices, product variety and online marketing to appeal to more customers. Revenue fell 15% to €1.55bn compared to this time last year and in April Prada announced its lowest profits in five years. Gucci slammed for ‘irresponsible’ ad featuring ‘unhealthily thin’ model. The ad, which appeared on The Times’ website in December last year, included several photos of models posing.
The ad was investigated after one complainant argued the models were unhealthily thin, making the ad irresponsible. Gucci said the ads were part of a video that portrayed a dance party and was aimed at an older, sophisticated audience. The Times and the luxury fashion retailer said it was, to some extent, a subjective issue as to whether a model looked unhealthily thin. The brand believed both models had slim builds, but were not depicted in a way that could be interpreted as unhealthily thin. It said nowhere in the ads were any models’ “bones” visible, their makeup was natural rather than heavy (which might have accentuated the impression of thinness), lighting was uniform and warm to ensure there were no hollows caused by shadows and their clothes were not revealing. The ASA was not as positive, however, about another model leaning against a wall.
Prada Sales Slide on Weak Demand. MILAN, Italy — Prada SpA reported the first decline in opening-half sales since its 2011 listing as weak demand in China and terrorist attacks in Europe continued to weigh on the Italian luxury-goods maker.
Revenue fell 15 percent to €1.55 billion ($1.8 billion), the Hong Kong-listed company said in a statement Friday, missing the €1.65 billion average analyst estimate compiled by Bloomberg. Earnings also declined, though by slightly less than analysts predicted. As the wider luxury industry struggles for growth, Prada has been hit harder than most. That is partly because its handbags are too expensive and it is been too slow to invest online, according to Sanford C.
Burberry becomes first luxury brand to personalise on Pinterest. Burberry has become the first luxury brand to offer customers a personalised experience on Pinterest, letting them create customised make-up boards to promote its new ‘Cat Lashes Mascara’ product.
The personalisation works by asking visitors three questions. Their answers, along with their initials will be combined to create the personal Pinterest board. The partnership allows Burberry to benefit from Pinterest’s features and data to cater its posts to individuals though personalised and monogrammed content. Pinterest is currently the largest beauty platform in the world, with 38.5 million unique viewers of its hair and beauty category. Content will include makeup preferences, inspirational images, ‘how to get the look’ guides, product tips and information.
Luxury Brands Focus On “Instagram Generation” Ultra Rich Customers. It’s a brave new world out there, though not the one Aldus Huxley envisioned.
Technology is all-pervading in more ways than we actually realize. While browsing the web you always come across headlines with celebs touting the latest and greatest. Whether it’s a reality star, a Hollywood A-lister or a singer, everyone knows what they’re doing, where they are, what they’re wearing – oh, and what they are driving. The paparazzi will soon be a thing of the past. Mulberry luxury goods maker sees profit treble. Image copyright Getty Images Luxury goods company Mulberry sees profits treble following switch to focus on more affordable products.
The company, best known for its leather handbags, saw annual pre-tax profits in the year to 31 March jump from £1.9m to £6.2m. Sales rose by 5% to £155.9m. Mulberry has struggled in recent years as a result of the company's failed attempt to compete with higher end brands, such as Prada and Fendi. Chief executive Thierry Andretta said it had made "significant progress". Mulberry has spent the past two years introducing new designs and bringing in lower priced bags in the £500 to £800 range.