Richemont, the owner of Cartier and Chloé, gave details of its proposed shareholders' loyalty scheme on Friday, where it will give warrants to investors which later can be converted into newly created stock.
Burberry on Friday announced the opening of its long-awaited social retail store in China’s technology hub Shenzhen, “blending the physical and social worlds in a digitally immersive retail experience”.
French luxury group Kering's Q2 comp sales plunged by 43.7% due to the coronavirus. Gucci comp sales fell 45% and Saint Laurent 48%, but recovering Bottega Veneta contained the drop in revenue to only 24.4%
LVMH, the world’s biggest luxury goods group, said sales momentum picked up in June and had especially improved in China, after store closures sparked by the pandemic tore a hole in the Louis Vuitton owner’s Q2 sales.
Mr Porter and Jaeger-LeCoultre have released a new luxury watch inspired by the latest film in the Kingsman series, The King’s Man. The drop is limited to only 100 pieces, launching on Mr Porter this week.
Harvey Nichols is the third big name in just a couple of days to be mulling job cuts in the near future. The company is looking at removing roles from all of its stores, although it's trying to minimise the impact.
The New West End Company is calling on the UK government to introduce tax-free shopping for European tourists post-Brexit as what should be Britain’s busiest shopping area continues to see a mere trickle of visitors.
Brunello Cucinelli expects to limit its drop in sales this year caused by the coronavirus crisis to 10% and said it would writedown 30 million euros of unsold garments, which would be donated to humanitarian causes.