Gain a better understanding of the luxury market. Find out the latest news from the luxury business sectors – openings, launches, financial situations, buyings.
London may be able to draw on its long history and strong reputation for Fine Art sales. But it cannot ignore the energy that is today emanating from the Ultra-Contemporary and art-NFT market. Artmarket.com: Frieze London in the context of Hong Kong’s rapid growth and other art market changes observed by Artprice. After the UK … Read more
Fashion resale is getting bigger and bigger. Driven by Gen-Z, Preowned Clothing is Expected to Make Up 27% of the Average Resale Buyer’s Closet By 2023. The estimated value of the apparel, footwear, and accessories resale market is between $100 and $120 billion worldwide, more than three times the size it was in 2020, according … Read more
Pernod Ricard Group Announces a New Business Unit For High-end Experiences. As part of its Transform & Accelerate strategy powered by the ‘Conviviality Platform’, Pernod Ricard, the No.2 worldwide producer of wines and spirits, announced last week the creation of a new business unit. Its objective is to scaleup and expand geographically its existing direct-to-consumer … Read more
Location is the most important factor in the purchasing decision for second homeowners (67%) and aspiring homeowners (70%) when buying a second home. 64% of Buyers Desire to Travel Four Hours or Less to Their Second Home. 71% of buyers plan to visit their second home less than 7x per year. Pacaso, a technology-enabled real … Read more
High-end home buyers are backing off as rising interest rates, inflation, a tepid stock market and economic uncertainty make it less feasible to purchase luxury goods. Redfin Reports Luxury-Home Purchases Plummet 28%, the Biggest Drop on Record. Sales of luxury U.S. homes fell 28.1% year over year during the three months ending Aug. 31, 2022, … Read more
Burberry appoints Daniel Lee as new Chief Creative Officer. Burberry, the British luxury fashion house established in 1856 by Thomas Burberry and headquartered in London, announced that fashion designer Daniel Lee has been appointed Chief Creative Officer. Daniel will join Burberry on Monday 3 October 2022. He will be based at Burberry’s headquarters in London and … Read more