Gain a better understanding of the luxury market. Find out the latest news from the luxury business sectors – openings, launches, financial situations, buyings.
Luxury-Home Sales Sink 18%, the Biggest Decline Since the Start of the Pandemic. Redfin analysis finds the luxury-housing market is cooling down amid a slumping stock market, rising mortgage rates and economic uncertainty. Sales of luxury U.S. homes fell 17.8% year over year during the three months ending April 30, the largest drop since the … Read more
World’s First 100% Solar-Powered LGD Producer Completes $90 Million Investment Round from LVMH Luxury Ventures and Other Key Investors. LUSIX, a leading producer of lab-grown diamonds (LGD), announced that high-profile investors, including LVMH Luxury Ventures, Ragnar Crossover Fund and More Investments, have completed an investment round of $90 million. The Company will use this investment … Read more
PUIG ACQUIRES A MAJORITY STAKE IN BYREDO. Puig, the fashion and beauty family-owned company, has acquired a majority stake in Byredo, the Swedish luxury brand founded in Stockholm in 2006. Founder Ben Gorham and Manzanita Capital will both remain as shareholders. Ben Gorham will continue his creative leadership (Chief Creative Officer) and Manzanita will remain … Read more
New market research commissioned by IBM revealed that global AI adoption grew steadily over the last year, to 35 percent of those surveyed in 2022, further underscoring that AI growth is poised to accelerate as it continues to mature, becoming more accessible and easier to implement. Other data points from the “Global AI Adoption … Read more
What are circular economy initiatives in the luxury sector. LVMH highlighted its circular economy initiatives at 2022 ChangeNOW summit, the world’s largest gathering of innovations for the planet. On the occasion of 2022 ChangeNOW, the annual international summit held from May 19 to 21 at the Grand Palais Ephémère in Paris, where LVMH luxury Group … Read more
Europe’s Tax Free Shopping Gains Strength With Record Recovery Rates, says Global Blue‘s new report. Last week, at Walpole’s latest Luxury Summit in London, Global Blue presented new data signalling the continued recovery of Tax Free Shopping in continental Europe. Global Blue offers innovative solutions in three different fields: Tax Free Shopping, Payments services, and … Read more