Luxury Daily’s live news for Sept. 14:
Sotheby’s auctioning Karl Lagerfeld estate
Auction house Sotheby’s has announced plans to host an upcoming auction selling more than 1,000 lots from the late designer’s residences in France and Monaco.
Mytheresa sees strong 35.2pc sales growth y-o-y
Online luxury retailer Mytheresa is witnessing significant sales growth, having reported net sales at $723.6 million for its 2021 fiscal year, a growth of 36.2 percent compared to 2020 and 61.5 percent compared to 2019.
Mandarin Oriental expands residential presence in Beverly Hills
Mandarin Oriental Hotel Group has announced it is heading west and will brand and manage 54 luxury residences in Beverly Hills, set to open in 2022.
Maserati joining luxury retail experience in London
Italy’s Maserati has announced it will be the sole automotive brand at Situ Live, a new retail experience opening at retail hub Westfield London in the fall.
Holiday spending expected to reach $1.3T: Deloitte
Holiday retail sales are likely to increase between 7 and 9 percent in 2021 totaling $1.28 to $1.3 billion between November and January, according to an annual holiday retail forecast by consulting firm Deloitte.
Luxury loses $7.6B in brand value, Porsche remains on top: report
As the world continues recovering from the COVID-19 pandemic, the total value of the world’s top 50 luxury and premium brands declined by more than 3 percent year-over-year, according to Brand Finance.