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
Richemont, third-largest luxury goods company in the world, FARFETCH and Alabbar Advance the Digitalisation of the Luxury Industry. Richemont is building an independent, neutral online platform for the luxury industry that would be highly attractive to both luxury brands and their discerning clientele. Richemont Maisons to adopt FARFETCH Platform Solutions to advance the realisation of … Read more
Panerai to produce top of the line luxury goods with sustainable titanium. Italian luxury watch manufacturer Officine Panerai, and its parent company Richemont, the Switzerland-based luxury goods holding group, have been leaders in the application of titanium metal alloys in luxury watches, and they are again leading the market to build a low carbon, circular … Read more
CENTRAL GROUP AND SIGNA HOLDING COMPLETE ACQUISITION OF SELFRIDGES GROUP. Following the announcement in December 2021, Central Group and Signa Holding have completed the acquisition of the luxury retailer, Selfridges Group, from the Weston Family. This transaction has created one of the world’s leading luxury department store groups, with presence in 8 countries in Europe … Read more
Building on the launch of BEYOND: The Future of Luxury Retail, a start-up incubation program, the co-hosts The Dubai Future Foundation and Richemont Middle East, India & Africa announced the six start-ups that will move to the prototyping phase. Selected from over 250 applications from the brightest minds around the world, the six finalists will … Read more
Group revenue: €9.9 billion, up 23% as reported and up 16% on a comparable basis. Kering’s financial result improved sharply in the first half of 2022. Group revenue in the first half of 2022 grew 23% as reported and 16% on a comparable basis compared to the first six months of 2021. Group revenue also … Read more