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Luxury brands

Coronavirus and luxury retail: Shopping for used Hermes, Cartier in Covid era

Coronavirus and luxury retail: Shopping for used Hermes, Cartier in Covid era

By: Eric Rosenbaum, Susan Caminiti
Source: CNBC
Date of Publication: September 19th, 2020
The luxury market has taken a big hit during the pandemic, and the mega-deal between Tiffany’s and LVMH is on the verge of falling apart. Used apparel and accessories start-ups The RealReal and ThredUp are rebuilding business models to deal with Covid-19 requirements. Resale experiments at department stores like Macy’s are underway and its CEO says luxury is a bright spot amid a bleak retail landscape, while Walmart also has a new deal with ThredUp. Luxury shopping is a big consumer prize: Amazon just announced its entry, Amazon Luxury Stores.
Rolls-Royce says demand for luxury cars is recovering

Rolls-Royce says demand for luxury cars is recovering

Source: Reuters
Date of Publication: September 1st, 2020
The chief executive of Rolls-Royce said demand for his company’s luxury cars is rebounding, helped by sales in Asia, and he is optimistic about the outlook for next year after the coronavirus pandemic hit consumer confidence and closed dealerships.
Saks to Reopen Fifth Avenue Flagship With UV Handrail Cleaners, Video Shopping Service - WSJ

Saks to Reopen Fifth Avenue Flagship With UV Handrail Cleaners, Video Shopping Service

By: Suzanne Kapner
Source: The Wall Street Journal
Date of Publication: June 23rd, 2020
Saks, Tiffany, Bergdorf are going beyond masks and other coronavirus safety measures as they try to woo back luxury shoppers to the high-end shopping corridor.
Gucci hikes handbag prices to curb coronavirus hit, says analyst

Gucci hikes handbag prices to curb coronavirus hit, says analyst

Source: Reuters
Date of Publication: June 19th, 2020
Gucci has raised the price of handbags by up to 9%, joining rivals Louis Vuitton and Chanel in a bet their brands will still lure the wealthy, a Jefferies report said on Friday, as top luxury brands try to shake off the impact of the COVID-19 pandemic.
Will The Coronavirus Finally Force Luxury Brands To Discount?

Will The Coronavirus Finally Force Luxury Brands To Discount?

By: Greg Petro
Source: Forbes
Date of Publication: May 21st, 2020
Historically, luxury brands have gone to great lengths to preserve their elite status, including going so far as burning excess inventory rather than sully the brand’s reputation by posting a sale price.