In the last year, the luxury industry’s digitalisation process has accelerated at all levels, radically transforming the labels’ relationship with the public, as shown recently by Bottega Veneta, Versace and Balmain.
A push to attract young and diverse talent and global consumers is behind some of corporate America’s willingness to speak out on politically charged issues, executives and corporate governance experts said.
Hugo Boss said Oliver Timm has now joined as its Chief Sales Officer (CSO). His arrival comes at a time of big change at the firm as a new CEO prepares to join this summer and it evolves its offer for the ‘new normal’.
A recent study from online payment service Klarna has revealed that clothing and accessories are favorite gift categories for last-minute holiday shoppers this year, mentioned by 78% of consumers still making purchases.
This year has increased the importance of Chinese consumers to the luxury sector as the overall market has shrunk while China’s purchases have surged. And there's more to come in the next few years too.
The pre-owned fashion market is forecast to grow worldwide by 15-20% per year until 2025, says a survey by BCG for resale specialist Vestiaire Collective, outlining the different profiles of the market’s players.