Burberry announced that it has entered into an agreement to acquire a business from longstanding Italian supplier, Pattern SpA. Burberry’s newly acquired operations will remain at the current site in Turin, Italy. This acquisition includes employees, equipment and inventory. The agreed price is EUR 21m subject to closing conditions and standard adjustments. For almost two … Read more
At Auto Shanghai 2023, Lexus celebrated the world premiere of the all-new Lexus LM. Beginning with the key luxury MPV market of China, the second-generation LM will be launched in over 60 countries worldwide, including for the first time in Europe and Lexus’s home market of Japan. The first-generation Lexus LM was launched in 2020 … Read more
Hermès Sales Soar: All Lines Report Impressive Momentum. Hermès Lines Hit a Home Run: Strong Momentum Across the Board. The Hermès luxury group has released their financial report for the first quarter of 2023. In this report, they reveal that their consolidated revenue reached €3,380 million, which is an increase of 23% at constant exchange … Read more
UK’s Luxury Authority Welcomes Three New Members. The Walpole, UK’s luxury industry, announced three new members: historic Chesterfield-crafter Fleming & Howland, storied hatmaker Christys’ Hats, and Rocco Forte Hotels’ The Balmoral. UK’s Luxury League Scores Three Big Wins with New Members. Walpole is a trade association that represents the British luxury industry. Founded in 1992, … Read more
Unmasking the Fakes: How High-End Brands are Taking on Counterfeiting. The last year Intellectual Property Crime Threat Assessment, produced jointly between Europol and the European Union Intellectual Property Office (EUIPO), reveals that the distribution of counterfeit goods has been thriving during the COVID-19 pandemic. The health crisis has presented new opportunities for trade in counterfeit … Read more
The Ocean Race launched a metaverse experience pilot last week with Virtual Regatta and Accenture to engage fans and businesses in a new way with the world-renowned, global yacht race. The Ocean Race Launches New Metaverse Experience Pilot with Virtual Regatta and Accenture. The Ocean Race, in collaboration with Virtual Regatta and Accenture, has introduced … Read more