Just the right amount of hand-picked luxury marketing news and market intelligence
→ (Reuters) The luxury market is slowing down- especially in Europe: According to Bain, the luxury goods industry has had a slow start to the year. Read more
→ (Esquire UK) How Sotheby’s Finds Hidden Watches Worth Fortunes (Like the Rolex Paul Newman Daytona Left in a Flowerpot): Geoff Hess, Global Head of Watches at the famous auction house and the founder of New York’s Rolliefest, talks about his journey to this point. Read more
→ (WWD) Luxury Clients Are Seeking Meaningful Moments and Validation from the ‘Right’ People: A new report says high-end consumers are getting pickier when it comes to how they spend their time, money and energy, and the shift will have big implications for luxury brands. Read more
→ (Designboom) From Loewe to Bottega Veneta, luxury brands invest in craft beyond the product: Luxury brands are increasingly supporting the skills that keep craft alive. Read more
→ (Reuters) LVMH and Accor’s Orient Express sets its sights on new tech billionaire class: In a joint venture with French hotelier Accor, LVMH launched its first yacht luxury experience under its luxury travel brand Orient Express. Read more
→ (Jing Daily) Bernstein’s Luca Solca on why China’s carefree luxury spending era is over: Top-ranked analyst explains why young shoppers turned cautious, where demand is stabilizing and what the strongest brands are doing. Read more
→ (Retail Dive) Saks Global exits Chapter 11 as ‘Exemplar Luxury Group.’ Here are 5 other things it dumped along the way: The luxury retailer is starting over with a new name and fewer burdens, including less debt and a smaller footprint. Read more
→ (NYT) Jaguar’s Electric Future: Curves Are Out, and Blunt Is In: The storied British automaker is going all-electric, and this fall it will unveil its new flagship, with deliveries coming next year. The strategy is distinctive but risky and has drawn some prominent detractors. Read more
→ (Observer) The American Jewelers Who Rewrote the Rules of Luxury: They gave rise to an aesthetic rooted not in inherited aristocracy or court rules but in exceptional craftsmanship driven by innovation. Read more
→ (JCK Online) AI Is Reshaping Luxury Shopping Faster Than Brands Are Adapting, Bain Report Finds: Bain reported that 97% of luxury shoppers who have used AI intend to use it again for future purchases. Read more
Flash Stats: Bain now expects growth in personal luxury goods this year of between 2 to 4 percent at constant exchange rates, down slightly from a November estimate of 3 to 5 percent, according to the mid-year update of the Bain–Altagamma Luxury Goods Worldwide Market Study, a forecast that serves as an industry benchmark. Spending on personal luxury goods – which include fashion ready-to-wear, leather goods, footwear, watches and jewelery – is expected to rise to between €365 billion and €373 billion this year, according to the report. - Bain–Altagamma Luxury Goods Worldwide Market Study
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Thanks for reading Brilliant Cut! - Scott
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