Porsche Design reported a 45 percent increase in sales for the 2012 financial year that is largely a result of its strengthened retail presence.
Saks Fifth Avenue is offering cues for fellow luxury retailers as it revamps its bricks-and-mortar strategy and gears up for a comeback from weak 2012 profits by marrying the in-store and ecommerce experiences.
Recent strong sales figures from fashion-focused conglomerates LVMH Moët Hennessy Louis Vuitton and PPR signal that global branding efforts of corporate-owned luxury brands surpassed those of private labels, experts say.
U.S. fashion house Michael Kors is experiencing rapid growth in sales due to product value, positioning in both the apparel and accessories categories, store openings in key markets and word of mouth, experts say.
French leather goods and scarves maker Hermès set record profits for 2012 with a 22.6 percent increase in revenue from the previous year and maintains its über luxury brand status with help from its coveted bags.
Together Harry Winston Inc. and Swatch Group Ltd. are likely to benefit from combining their manufacturing practices and diamond expertise with the $750 million acquisition, experts say.
Luxury marketers that push service and personalization in the days leading up to Christmas will likely trigger more last-minute purchases from affluent consumers compared to brands that offer discounts, experts agree.
Technologies such as NFC and mobile applications including Google Wallet and Passbook are changing the way consumers pay for goods and services, and many times, making shoppers reach for their smartphones to pay rather than their credit card.
The hurricane brewing in the Northeast region of the United States has brought luxury retail and travel to a halt, but retailers are not likely to suffer as consumers shift purchases to ecommerce or are willing to wait it out for the in-store experience.
NEW YORK – A MasterCard executive at the Luxury Interactive 2012 conference said that the company is positioning itself as an experiential brand for high-earning shoppers through exclusive packages, digital payments and a mobile application sponsorship.