The owner of the Ikea furniture brand expects sales to grow this fiscal year as online trade expands, but profits will be tempered by increased investment as the brand battles web specialists like Amazon and Made.
24S, formerly 24 Sèvres, the LVMH group’s luxury multibrand e-tail site, is celebrating two years in business by launching a menswear selection this autumn, featuring exclusive labels like Dior and Celine.
Barely two years after its launch, the LVMH-owned e-commerce site has already changed its name. The group announced on Wednesday that the brand is now called 24S, in an effort to boost its international development.
Eagerly awaited by fashionistas and fans of the Louis Vuitton men's artistic director, the 75cl glass Evian bottle by Virgil Abloh will soon be available at select retail locations listed on brand's global website.
H&M profit may have fallen in its latest period as its logistics issues continued to eat into the bottom line, but the group's sales are heading in the right direction and it's also selling more at full price.