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ILM reports that retail comparable store sales for the British fashion brand declined 9% as planned reductions in markdown and reduced tourist traffic in outlets are reported to have offset high single-digit full-price sales growth. (Editor´s Note: this is a good performance considering retail disruption due to the pandemic)
Sales of luxury goods in China increased 48% in 2020 to CNY346 billion (US $53.5 billion), with leather goods performing particularly well, reports ILM.
The Kering-owned luxury fashion brand has abruptly shut down its accounts on various social media platforms, such as Instagram, Twitter and Facebook, reports ILM.
Luxury group LVMH announced on January 7 that its bid to acquire US brand Tiffany was complete, reports Leatherbiz.
First: critically evaluate the value of your brand. Second: turn the story of the brand into a compelling one, writes La Conceria. Third: improve the customer experience, both digital and physical. One after the other, these are the essential strategies that luxury brands will have to face in 2021. This was stated by Daniel Langer , CEO of Équité, a luxury consultancy company, and professor of Luxury Strategy at Pepperdine University in Malibù, California. Strategies aimed, above all, at one goal: to engage Generation Z consumers.
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