Luxury brands must redefine the way they do business | Media Network
There were times when China was the holy grail for global retailers. Logo-obsessed Chinese buyers seeking opulence were armed with cash fresh from the economic boom. Luxury retail brands flocked to the new market, with the result of 35% of sales for brands such as Omega, Harry Winston and Balmain coming from Greater China, according to estimates by Exane BNP Paribas. The region is responsible for a whooping 25% of sales at Burberry and 20% of sales at Prada. The strategy of growth by opening stores in emerging and existing markets is neither new nor unique to luxury retail. The logic of this is that if consumers aren’t buying your stuff, create more stuff. From 2008 to 2011, there was a 42% spike in the number of luxury retail stores in Asia, compared with a 28% rise in Europe and 5% rise in North America, according to Lux Redux report by Boston Consulting Group. Overexposure is a bad strategy. Exactly how dangerous, luxury retailers are only about to find out.
These five are driven by research which has shown consumers...
Fast fashion online business have made a fortune for owners of businesses like Zara — Quartz
In its first seven years of existence, Uber has irked cities, flouted regulators, and petrified whole industries. It has yet to make money but is worth a fifth more than BMW and almost a third more than General Motors, both the owners of tons of futuristic technology, tens of billions of dollars in capital equipment, and big profits. In recent deals resembling famous speculative bubbles, rich investors eager for a piece of this juggernaut have poured hundreds of millions of dollars into custom funds that provide exposure to Uber but no equity or financial disclosure. Which is to say that investors have made a one-way, uber-bullish bet on Uber, forecasting that the company will be at the center of an utter transformation of our collective lifestyle. If not everyone is betting on it, they’re at least not betting against it. Even if you wanted to short Uber, it is generally thought impossible to do. Part I: Self-driving technology is indisputably on its way There is logic to this view.
"Recent innovations from two of the major luxury houses,...
Raf Simons Confirmed At Calvin Klein
After many months of speculation, Raf Simons has finally been confirmed as the new chief creative officer of Calvin Klein. Calvin Klein took to social media on Tuesday morning to confirm the news. "The arrival of Raf Simons as chief creative officer signifies a momentous new chapter for Calvin Klein. Not since Mr. Klein himself was at the company has it been led by one creative visionary, and I am confident that this decision will drive the Calvin Klein brand and have a significant impact on its future. Just yesterday, it was reported that PVH Corp. was close to confirming Simons' hire because his non-compete agreement with Dior, which he left in October 2015, expired at the end of July. In his new role, Simons will have even more responsibility than he did at Dior. Back in April, it was announced that Calvin Klein creative directors Francisco Costa and Italo Zucchelli were leaving the brand, which led to reports that Simons would take over the creative helm.
Speaking in October, the Chancellor said: "Britain...
10 Most Powerful Luxury Fashion Brands In The World
The luxury market has been growing significantly over the past couple of years and is still continuing on an upwards trend. Experts forecast an annual growth rate for the luxury goods market of 5-6% between 2013 and 2015. The Brain & Company estimated the luxury market to be valued at $274 billion, with a potential to reach an astonishing value of $290 value by 2015. Whilst the luxury market has been dominated by Louis Vuitton, which continues to be the most valuable luxury brand on a global scale, other names have been emerging as potential market leaders. Gucci and Prada have experienced the most significant growth. With great growth and potential, brands like Prada, Gucci and Hermes may one day overtake the market. and reach the number one spot. It is believed that Prada and Gucci experienced such high growth in brand value due to an increase in Asian customers, at home and abroad. Read on to find out the Top 10 World’s Most Powerful Luxury Brands. 10. 9. 8. 7. 6. 5. 4. 3. 2. 1.
What is sustainability?
Planting trees We hear the words 'sustainable' and 'sustainability' almost every day. But what does it mean exactly? Is it about people and culture, our environment, or jobs and money? Is it about cities or the country? Is it about you and me or is it something for other people to worry about? Sustainability is about all of these things and more. Sustainability could be defined as an ability or capacity of something to be maintained or to sustain itself. If an activity is said to be sustainable, it should be able to continue forever. Some people say it is easy to recognise activities that are unsustainable because we know it when we see it. Living sustainably is about living within the means of our natural systems (environment) and ensuring that our lifestyle doesn’t harm other people (society and culture). Increasingly our lifestyle is placing more and more pressure on natural systems. A good example of a sustainable practice is timber harvesting from native NSW state forests.
5 things you probably didn’t know about the fashion industry
Mark Twain once wrote, “Clothes make the man. Naked people have little or no influence on society.” Whether we’re one of the millions of people employed by the sector or just someone who likes to shop on Fifth Avenue or in second-hand stores, we are all touched by the fashion industry. Before the early autumn ushers in fashion weeks around the world, here are five things about the global fashion industry you probably didn’t know: The fashion industry generates up to $2.5 trillion in revenue a year The fashion industry is huge and continues to grow rapidly – according to current growth projections, it will double in the next 10 years, generating up to $5 trillion annually. It’s not just big in terms of revenue – it also employs 60 million people around the world. Clothing accounts for 88% of Haiti’s exports Only 25% of board members of publicly-traded fashion companies are women But while the shop floor is one story, the boardroom is another. 24 April is Fashion Revolution Day Share
