1. AccorHotels to launch luxury brands Raffles, Fairmont in India
Europe’s largest hotel group AccorHotels is set to introduce its luxury brand Raffles in India with the launch of two new hotels in Udaipur and Jaipur. The Paris-based group will also launch a new Fairmont hotel in Mumbai.
2. The Future of Online Luxury Retail
Traditional luxury brands have historically considered online retail to be a distribution platform fitted for selling low to mid-range luxury goods. Selling through multi-brand retail sites, in particular, was not seen as an appropriate channel for upscale brands. Multi-brand websites were often perceived as a threat to a luxury brands image amongst its luxury consumers.
High-end products were thus reserved for the premium experience of offline retail stores. This was based on the assumption that affluent consumers wouldn’t be willing to spend the premium price required for high-end luxury goods online. Indeed, wouldn’t luxury shoppers always favour a personalised customer service and a tactile shopping experience? The kind of experience that only a premium offline retail space could offer.
That assumption is now being challenged.
3. Net-A-Porter launches biggest ever Ramadan initiative
To mark the lead up to Ramadan next month, Net-A-Porter is launching a dedicated campaign and a curation of 17 exclusive capsule collections. The move reflects the increasing importance of the Middle Eastern market and the modest fashion movement to the luxury sector, something we saw last month when major rival Farfetch invested in The Modist.
4.Get personal: The Gucci DIY service in Mumbai is a must-try this week
Personal style in 2019 is all about bespoke services and customised curation – everything that points towards creating a highly individualistic experience. In keeping with this is the of-the-moment Gucci DIY (Do It Yourself) service, a personalisation proposition that allows buyers to create and own a part of the design process by adding monograms, and mix and matching cuffs and buttons. The service is in addition to the DIY Men’s Tailoring and Shoe service that is already available in India.
5. Favre-Leuba appoints off-road racer CS Santosh as its brand ambassador
Swiss watch brand Favre-Leuba has announced the appointment of Indian off-road racer CS Santosh as its new brand ambassador. The racer will endorse the brand’s new range of ‘Raider Sea Sky’ watches.
With its association with the racer, the second oldest luxury Swiss watch brand will look to tap new markets for growth in India especially the lucrative off-road racing segment.
Talking about his new role as Indian brand ambassador for Favre- Leuba, CS Santosh in a statement said, “ I consider this to be a very exciting collaboration and their belief of breaking new barriers aligns very well with my personal mantra in life.”
6. LVMH Shares Touch Record Highs After Solid First-Quarter Sales
Shares were up 3.3 percent in early session trading, also lifting the shares of peers such as Gucci-owner Kering, Hermès, Burberry and Moncler.
7. BMW 620D GRAN TURISMO LAUNCHED IN INDIA FOR RS 63.9 LAKH
The entry level 6 series GT, the BMW 620d Gran Turismo has debuted in India for the price of Rs 63.9 lakh ex-showroom pan India. The 620d GT has been introduced with the luxury line trim. The sedan carries the same design that was seen earlier on the BMW 6 series GT and gets the similar fastback like body style along with the signature frameless windows.
Being the entry-level variant in the 6 series GT family, the 620d does not miss out on wood inserts all around the cabin, leather-wrapped steering wheel and ambient lights. The passengers in the back will have two 10.2-inch screens synced with the infotainment system. The screens, mounted on the back of the front row seats, can stream BluRay DVDs and has HDMI connectivity, as well as MP3 players and connectivity for gaming consoles.
8. Luxury fashion brands like Prada and LV make a splash in the art world
India’s luxury market is getting a boost from the country’s tier II cities.
High end spending in these towns grew at a rate 30 times greater than in tier I cities between 2013 and 2018, according to an analysis by credit card company American Express. Overall luxury spending in India itself grew by 4% in this period, the data showed.
The firm analysed transaction-related data from around 600 luxury goods merchants across the country for the study.
This spike in the growth in luxury spending in tier II cities came amidst “some strict measures by the Indian government in 2016 such as demonetisation, increased excise duty on gold and diamond jewellery, and increased tax on other luxury goods to curb ‘black money,’” the American Express report reads. Many analysts believe the luxury market was hit hard by the 2016 rule that customers must submit their permanent account numbers (PAN) for transactions of over Rs2 lakh (around $3,000), according to a November 2018 report in the Economic Times newspaper.
9. Bernard Arnauld of LVMH pledges 200 million euros to help rebuild Notre-Dame cathedral
PARIS: The French billionaire Bernard Arnault, who controls the sprawling LVMH luxury conglomerate, said Tuesday that his family and the company would contribute a combined 200 million euros ($226 million) to help rebuild Notre-Dame cathedral after it was gutted by fire.
“The Arnault family and LVMH, in solidarity after this national tragedy, will participate in the reconstruction of this extraordinary cathedral, a symbol of France, its heritage and its unity,” they said in a statement.
10. Step Into Spring With Candy Colored Jacob & Co. Tourbillons
Jacob & Co. is no stranger to making dazzling bejeweled high horology timepieces. This is the brand behind the famous Billionaire diamond tourbillon watch, after all. While Jacob & Co. unveiled some crazy complications at Baselworld 2019, in honor of the new season, we are highlighting a pair of colorful Jacob & Co. Brilliant Flying Tourbillon models to get you into the swing of spring.
11. Marriott Launches First Luxury Property In Cyprus
While the hotel giant has just recently opened its 7000th luxury property in Hong Kong, Marriott International is certainly not resting on its laurels. The hotel giant has just launched its first luxury property in Cyprus, an island country located in the Eastern Mediterranean. The newly debuted property is none other than Parklane, a Luxury Collection Resort & Spa, Limassol. But of course, the opening of Parklane marks an important milestone for Marriott – it is Cyprus’ very first international luxury branded resort.
Located 35 minutes from Larnaca International Airport (LCA) and 50 minutes from Paphos International Airport (PFO), Parklane promises guests an incredible experience unlike any other. Foremost, the resort is surrounded by 25 acres of carefully landscaped gardens. The verdant grove of evergreen olive, citrus and palm trees help set the mood for the tranquil experience awaiting guests.
12. Lexus Reveals LM MPV At 2019 Shanghai Auto Show
Lexus has revealed its first-ever MPV at the 2019 Shanghai Auto Show called the LM. It is based on the Toyota Alphard, just like a majority of Lexus cars are premium Toyotas.
On the outside, the only element of the MPV that stands out is the huge grille. It is so huge that the humongous front grille of the BMW X7 might just look puny in front of it. That said, we weren’t surprised as Lexus’ Spindle family grille can easily tower over others in the market. While the front has been redesigned, the side profile is pretty much identical to the Alphard. The rear is distinguishable in the form of connected tail lamps.
Underneath the hood, the LM will be available with two engines options. One will be a 3.5-litre DOHC petrol engine and the other is a 2.5-litre petrol/hybrid powertrain.
13. Ola in talks with luxury carmakers Audi, Mercedes for self-drive subscription services: Sources
Ride-hailing platform Ola is in discussions with luxury carmakers, including Audi, Mercedes and BMW, to launch a subscription-based service under its self-drive offering, according to sources.
Ola has been running a small-scale pilot of the self-drive service in Bengaluru currently, and is expected to launch the offering in the next few weeks through Ola Fleet Technologies.
The company is also believed to have earmarked an investment of up to USD 500 million (including debt) for the self-drive service
14. Mercedes-Benz India CEO says Tier II, III cities contribute one-fourth of our sales | Interview
The first three months of 2019 have been rough for Mercedes-Benz in India, owing to a dip in sales. The luxury carmaker hopes to get back on track with an eye on tier II and III markets, investments in new products and its retail network. Martin Schwenk tells Ankita Rai what Mercedes-Benz has learnt in its 25 years in India. Edited excerpts:
In Q1 2019, Mercedes-Benz India’s sales declined by 14.7% compared to Q1 2018, whereas BMW India saw a 19% sales growth in the same period (selling 2,822 units). What’s your strategy to stay ahead, as the likes of Audi and Volvo catch up?
15. Luxury Ayurveda brands could be India’s entry to lucrative global beauty business
First Estee Lauder and now Puig, a Barcelona-based global beauty conglomerate has invested in home-grown luxury Ayurveda beauty businesses in India.
The investment offers them a foothold in the premium-to-luxury market and a slice of the innovative indigenous companies that leverage an ancient science.
While Estee Lauder picked up a minority stake in Forest Essentials in 2009, upping it in 2014, Puig has recently pledged to invest Rs 100 crore in Kama Ayurveda.
16. How Luxury Giants and Chinese Firms are Saving Heritage Brands
Haute couture houses suffered during the first and second world wars from fabric limitations and financial instability. They lost their wealthiest American clients due to the Wall Street Crash in 1929. All those tragic events, combined with the ready-to-wear revolution, led to the disappearance of many famous names such as House of Worth, Paul Poiret, Jean Patou, Madeleine Vionnet, Molyneux, Schiaparelli, Rochas, Doucet and Nina Ricci.
Ailing, once glamorous fashion houses that require an injection of cash from a wealthy entrepreneur to save them from bankruptcy and oblivion are often referred to as “sleeping beauty” brands.
Article link: https://jingdaily.com/luxury-giants-chines-heritage/
17. Sustainability becoming an economic benefit for luxury brands
Only a few years ago, sustainability was regarded chiefly as a marketing claim, but it is now becoming an essential element at the heart of the business strategies of fashion and luxury labels, generating a genuine economic benefit. These are the conclusions of a survey by McKinsey & Company for the Italian Fashion Chamber (the Camera Nazionale della Moda Italiana, CNMI), presented during the ‘International Roundtable on Sustainability’ that was organised on Tuesday in Milan by the Italian fashion industry’s main representative body.