October 16, 2012
Today in luxury marketing:
Analysis: Burberry smells a chance in fragrance business
Burberry hopes it can gain better control over its brand and eventually a bigger slice of profits by running its own perfume business, a big gamble that could change the structure of the luxury goods industry if others follow suit, according to Reuters.
LVMH confident despite slowing sales
Luxury goods giant LVMH Moët Hennessy Louis Vuitton said Oct. 15 that it remained confident despite the economic slowdown in Europe, as it posted a rise in third-quarter sales, per The Wall Street Journal.
Stefano Sassi builds for the future
As CEO of Valentino Fashion Group SpA, Stefano Sassi has over the past six years steered the brand back into the black, forged a successful fashion design team, streamlined the company’s structure and operations, helped restore the label’s global profile and, most recently, succeeded in the transition from its previous owners, private equity fund Permira, to new ones, Mayhoola for Investments, WWD reports.
Chinese shoppers power global luxury sales forecast to hit record $274 billion in 2012
Chinese shoppers at home and abroad are pushing global sales of luxury items to new heights, helping the sector post its third straight year of strong growth since the global recession, The Washington Post said.