Luxury leathergoods brand Delvaux has opened its first US flagship store, choosing the corner of Fifth Avenue and 59th Street on Manhattan’s Upper East Side as the location.

Luxury group Richemont and e-commerce operator Alibaba have formed a joint venture that will see the launch of a new luxury retail platform for Chinese consumers.

Buying second hand clothes is nothing new, but the sector has been growing considerably thanks to the Internet.

Luxury group Kering has reported revenues for the third quarter of 2018 of €3.4 billion, which represents an increase of 27.6% on the figure for the same three months last year.

The share price of a number of European luxury groups fell sharply on October 4 after online reports of more stringent border checks on Chinese travellers bringing items into the country.