Luxury brands will increasingly have to court Chinese shoppers on their home turf, as purchases soar among a clientele who are forecast to generate nearly half the industry’s sales by 2025, a study showed on Thursday.
A pearl and diamond pendant owned by Marie Antoinette before she was beheaded during the French Revolution sold for $36 million at an auction on Wednesday, shattering its pre-sale estimate of up to $2 million.
YNAP’s luxury e-tailers Net-A-Porter and Mr Porter have unveiled their Christmas marketing campaigns with a focus for the former on the “ultimate in party dressing” and the latter on the service proposition.
The “Pink Legacy”, a diamond weighing just under 19 carats, fetched a record 50.375 million Swiss francs ($50 million), purchased by U.S.-based luxury jeweler Harry Winston, Christie’s said on Tuesday.
London Fashion Week Men’s has unveiled its provisional schedule for next season and the emphasis is very much on youth and gender fluidity. The three-day season lists 42 separate events, four less than in June 2018.
Marie Antoinette's dazzling diamonds and pearls, unseen in public for two centuries, will go on sale in Geneva on Wednesday in what is being billed as one of the most important royal jewellery auctions in history.
Luxury goods group Richemont struck a cautious note after reporting sales numbers hurt by moves to combat the grey market and efforts by the Chinese government to discourage consumers from spending overseas.
Farfetch losses may have grown in Q3, but at its still-early development stage that's no shock. Losses aside, its Q3 report showed it surging ahead on sales and market share with enough cash to fund its lofty ambitions.