LVMH becomes first European firm to reach market value of $500 billion. European luxury conglomerate LVMH breaks record with $500 billion market value. It’s worth noting that market values can fluctuate rapidly based on a variety of factors, including changes in market conditions, company performance, and global events. Luxury goods company LVMH / LVMH Moët … 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
Strength of the U.S. dollar and rising costs of living have U.S. affluent buyers looking abroad for their dream home, according to new Coldwell Banker Global Luxury data. Whether it is the desire for warmer weather, better prices or experiences around the world, wealthy U.S. buyers want to move abroad. According to a recent survey … Read more
“The nouvelle vague – the new wave – of the luxury goods market will demand evolution amid disruption, adaptation amid uncertainty, and an expansion of creativity in all of the basics – all while new trends and concepts develop”, said Claudia D’Arpizio, a Bain & Company partner and leader of Bain’s Global Luxury Goods and … Read more
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
High-end home buyers are backing off as rising interest rates, inflation, a tepid stock market and economic uncertainty make it less feasible to purchase luxury goods. Redfin Reports Luxury-Home Purchases Plummet 28%, the Biggest Drop on Record. Sales of luxury U.S. homes fell 28.1% year over year during the three months ending Aug. 31, 2022, … Read more