Global luxury market projected to reach €1.5 trillion in 2023, a new record for the sector, as consumers seek luxury experiences. The global luxury market is projected to reach €1.5 trillion in 2023, an 8-10% growth over 2022, setting a new record for the industry and proving its unparalleled resilience. These are among the findings … Read more
Navigating the Path to Luxury: A Career Guide from Sotheby’s Institute of Art. In the vast and ever-evolving tapestry of the luxury industry, there’s a place for everyone to utilize their unique skills and experiences. With a blend of passion, knowledge, and strategic thinking, you can find your niche in this expansive and dynamic field, … Read more
DFS Opening the First World-Class, Seven-Star Luxury Retail and Entertainment Destination DFS Yalong Bay in Sanya, Hainan, China by 2026. The 128,000 square meter site will feature over 1,000 luxury brands including iconic maisons from the LVMH Group, with elevated immersive concepts across multiple categories such as fashion and apparel, beauty and fragrances, watches and … Read more
Biotech Company MycoWorks Begins Production at the World’s First Commercial-Scale Fine Mycelium Plant in Union, South Carolina. Providing the company’s luxury leather alternative Reishi. Last week, biotechnology company MycoWorks begins production at its world-class manufacturing facility in Union, S.C. Now capable of scaling-up to meet luxury industry demand, the company is set to grow millions … Read more
Is Harrods’ Expansion into China a Game-Changer for the Luxury Industry? As mainland China is becoming a more important market for luxury shopping, Harrods, London’s most iconic department store, will open a new private member’s club in Shanghai at the end of 2023 in a bid to appeal to the country’s ultra-rich consumers. Harrods, the … Read more
Global luxury goods market accelerated after record 2022 and is set for further growth, despite slowing momentum on economic warning signs. The luxury goods market has experienced significant growth and is poised for further expansion, according to the latest report from Bain & Company, a leading global management consulting firm. The report, titled “Luxury Goods … Read more