Gain a better understanding of the luxury market. Find out the latest news from the luxury business sectors – openings, launches, financial situations, buyings.
Hundreds of Styles from More Than 60 Designers Now Available on SaksOFF5TH. Saks OFF 5TH Partners with Rent the Runway to Offer Pre-Owned Fashion. Saks OFF 5TH, the premier luxury off-price destination, has partnered with Rent the Runway, the largest shared designer closet, to provide Saks OFF 5TH customers access to pre-owned designer fashion for … Read more
Gemological Institute of America x eBay announce the expansion of Authenticity Guarantee to fine jewelry eBay Launches Authentication for Fine Jewelry. This marks the expansion of eBay’s authentication service to its fifth category, which currently includes sneakers, watches, handbags, and trading cards. As the marketplace’s luxury categories continue to gain momentum with double digit growth, … Read more
Inter Parfums, Inc. Reports Record 2022 Second Quarter Net Sales. Increases 2022 Guidance to $1 Billion in Net Sales and EPS To $3.25. Inter Parfums, Inc. announced that for the three months ended June 30, 2022, net sales rose to $244.7 million, up 18% from $207.6 million from the second quarter of 2021. Jean Madar, … Read more
Alexander Wang joins the growing roster of notable brands which have made the Seaport their home, including ESPN, whose New York Seaport studios broadcast more than 200 hours of programming a week, and Nike, whose creative studio opened in 2019. The Seaport’s urban walkability and connection to the area’s independent retailers, restaurants, art galleries and … Read more
Electric vehicles to reshape the automotive and mobility industries faster than anticipated. Report. Bain expects the profit pool for the EV charging sector in the US, Europe and China to grow to up to €13.5 billion by 2030. New research from Bain & Company shows electric vehicles (EVs) are set to reshape the automotive … Read more
Saks Luxury Pulse Finds Consumers are Spending on a Luxury Lifestyle Saks, the premier luxury ecommerce platform, has unveiled its latest Saks Luxury Pulse survey of luxury shoppers with consumer insights on spending habits and lifestyle preferences. The survey found that higher income consumers are continuing to spend on luxury, including treating themselves with fashion … Read more