February 2020: Luxury News
January 2020: Luxury News
February 3, 2020March 2020: Luxury News
March 30, 2020
1. Why FOMO is Shaping the Luxury Market Now More Than Ever
AKLC COMMENT(S): This is actually so sad! Brands these days, are playing with the vulnerability factor of the millennials & Gen Z’s
There’s always one recurring theme I see in my luxury masterclasses: Luxury managers are aware that their brands aren’t prepared to be attractive or relevant to millennials today — at all. And while they struggle to adapt to changes that have already happened, the changes that are coming via Gen Z will far outpace what they’ve already experienced. As a result, it will be critical for luxury brands to have the ability to anticipate what will happen over the next decade. That’s because, according to research, luxury brands are only relevant to younger consumers if they are considered influential and innovative. Brands that are relegated to following the pack will quickly become irrelevant and will be replaced with zeitgeist-defining brands.
Article link: https://jingdaily.com/why-fomo-is-shaping-the-luxury-market-now-more-than-ever/
2. Audi Spotlights sustainability in Super Bowl spot
AKLC COMMENT(S): Good!
German automaker Audi is using the Super Bowl as a platform to highlight its sustainable mobility efforts through music.
The marque’s spot for the big game on Feb. 2 features actress Maisie Williams choosing a different, more environmentally friendly path through a city with the help of a popular Disney tune. Infused with celebrity and a touch of surrealism, Audi’s ad blends entertainment with an ecological message.
“Audi — and all luxury automakers — have to focus on sustainability,” said David Undercoffler, editor in chief of Autolist, San Francisco. “This is a critical inflection point for luxury brands to pivot away from their histories as builders of gas-guzzlers and towards a greener future.
Article link: https://www.luxurydaily.com/audi-spotlights-sustainability-in-super-bowl-spot/
4. Luxury Fashion and Beauty Brands are pledging Millions in fight against Coronavirus in China
AKLC COMMENT(S): Hope this all ends soon!
A number of high-end fashion and beauty brands are pledging millions of dollars to support the fight against the deadly novel coronavirus, which originated in the Chinese city of Wuhan, the capital of Hubei Province.
The Kering Group, parent company of brands including Gucci, Saint Laurent, Balenciaga, Alexander McQueen, and Ulysse Nardin, announced on Tuesday that it would donate CNY7.5 million (US$1.08 million) to the Red Cross Foundation in Hubei. The aid will be used to care for medical staff and patients at hospitals as well as for public health education, the company said in its Chinese-langauge site.
5. Estée Lauder, Sephora unveil shoppable AR makeup try-ons on Pinterest
AKLC COMMENT(S): Wow! This is so cool! All about creating the perfect shopping experience.
Estée Lauder, Sephora, bareMinerals, Neutrogena, NYX Professional Makeup, YSL Beauté, Lancôme and Urban Decay from L’Oréal are the first beauty brands to sell products that people can buy after trying them out with Pinterest’s new shoppable augmented reality (AR) feature, per an announcement shared with Mobile Marketer.
The Try On feature works with Lens, Pinterest’s visual search tool that can recognize 2.5 billion objects, to overlay a digital image of makeup on a selfie. To try the feature, users can tap on the Lens camera icon in search, click “try on” to see virtual product shades and swipe up to shop. Pinners, as the company calls its users, also can find Try On from a text search by looking for lipstick-related terms like “plum lipstick” or “red lips.”
Article link: https://www.mobilemarketer.com/news/estee-lauder-sephora-unveil-shoppable-ar-makeup-try-ons-on-pinterest/571188/
6. Gucci Mans up with a new dedicated Men’s Boutique in Beverly Hills
AKLC COMMENT(S): Wowww! Finally 🙂
Make a beeline straight to Beverly Hills, gents.
It’s a Gucci man’s world—at least in Beverly Hills. On the heels of the fall 2020 men’s show, creative director Alessandro Michele has one more gift for those of us with a Y chromosome. The fashion house will open a dedicated men’s boutique on Rodeo Drive.
Article link: https://robbreport.com/style/fashion/gucci-new-dedicated-mens-boutique-on-rodeo-drive-2895764/
7. Reliance to enter restaurant business with Armani
AKLC COMMENT(S): Great news!
Mumbai will be the latest city where the Michelin-star Armani open its restaurant, after Paris, Milan, New York, Tokyo, Munich and Dubai, among other cities.
New Delhi: After building India’s largest retail chain, Reliance Industries is now entering the restaurant business with a Michelin-star Armani eatery.
8. LVMH IN TAKEOVER TALKS WITH CASTELLO BANFI
According to Italian website Wine News, the French luxury group, run by Bernard Arnault, has been in talks with Castello Banfi “for eight months”, though the potential takeover is still very much in the negotiation process.
If it were to happen this wouldn’t be the first high profile acquisition of a Brunello estate by a French drinks giant. In 2017 EPI, owners of the Charles and Piper-Heidsieck Champagne brands, bought a controlling stake in Biondi-Santi.
Article link: https://www.thedrinksbusiness.com/2020/02/lvmh-in-takeover-talks-with-banfi/
9. The Lyst Index Q2 2019
AKLC COMMENT(S): Awesome!
The Lyst Index is a quarterly ranking of fashion’s hottest brands and products.
To compile the results, global fashion search platform Lyst analyzes the online shopping behavior of more than five million shoppers a month searching, browsing and buying fashion across 12,000 designers and stores online. The formula behind the Index takes into account global Lyst and Google search data, conversion rates and sales, as well as brand and product social media mentions and engagement statistics worldwide over a three month period.
Article link: https://www.lyst.com/data/the-lyst-index/q219/
11. Inside Glossier’s fight to trademark its iconic bubble wrap bags
AKLC COMMENT(S): They are totally going in the right direction!
And what it reveals about the future of branding.
I was going through the security line at LaGuardia recently when the young woman in front of me whipped out a pink Bubble Wrap zip-top pouch stuffed with toiletries and put it on a tray. Even though that bag had no logos or words scrawled across it, I could immediately tell she had gotten it from the makeup company Glossier. Since Glossier launched in 2014, it has packaged each product purchased online or in-store in one of these distinctive pouches. If you’ve ever shopped at the brand, or even casually scrolled through Glossier’s Instagram feed, you’ll instantly recognize the pouch because it comes in Glossier’s signature shade of millennial pink, with a white zipper and red slide.
Article link: https://www.fastcompany.com/90458769/inside-glossiers-fight-to-trademark-its-iconic-bubble-wrap-bags
12. These are the 4 most expensive sneakers in the world right now
AKLC COMMENT(S): Love it 😀
Depending on how much you like window-shopping (read: a lot, hopefully), we’ve got some important information for the sneakerheads among you. According to data by the online marketplace StockX, this year’s most expensive trainers in the world have been revealed. Keep your wallets firmly closed.
Article link: https://i-d.vice.com/en_uk/article/dygy97/these-are-the-4-most-expensive-sneakers-in-the-world-right-now
13. Roberto Cavalli Home Interiors launches signature armchairs in India
AKLC COMMENT(S): Wowww so good <3
Roberto Cavalli’s exclusive Armchairs, launched in India by Seetu Kohli Home, enhance the contemporary lifestyle
The new signature armchairs by Roberto Cavalli Home Interiors throws a quick, yet heavy dose of glamour and sophistication. The eponymous brand is brought to India by Seetu Kohli Home, the high-end architecture and luxury interior design company renowned for representing some of the top-notch global luxury brands in India. The collection of signature armchairs is marked by the use of iconic prints and patterns typical of the brand.
Article link: https://www.luxuryfacts.com/index.php/sections/article/Roberto-Cavalli-Home-Interiors-launches-signature
14. Jeff Bezos could set a record in luxury real estate
What a $100 million home purchase would say about Amazon’s founder.
Jeff Bezos is the world’s wealthiest person — and he’s finally beginning to live like it.
Bezos is reportedly scouting for homes in the Los Angeles area that cost as much as nine figures, which would rank among the largest purchases of residential real estate in California history. The prospective deal serves as another reflection of how he has transformed over the last two years, from a nerdy tech executive into a tabloid star mired in sex scandals, international investigations, and now, conspicuous consumption.
Article link: https://www.vox.com/recode/2020/2/6/21125456/jeff-bezos-los-angeles-home-purchase-billionaire
15. Kaunteya, a new luxury tableware brand brings 24-carat gold-laced Indian folk arts right on to your plate
AKLC COMMENT(S): Yayy! Kudos to Indian Luxury <3
From brass to bone china, the crockery in which you set the table helps you experience luxury in its most palpable form. Maybe that’s why it has always been treasured by the owner, royalty and clergy alike. And so, it continues to the present day. In India, as a quiet surge of independent tableware brands occurs, Kaunteya, an Indore-based tableware brand marks itself through its unique perspective on India’s rich traditional art forms.
16. Balenciaga, Tory Burch and Kurt Geiger are finally coming to India
AKLC COMMENT(S): Great News!
Reliance Brands Limited (RBL) – that retails over 45 international luxury brands in the country via 682 stores in India – is now adding three new brands to its roster in the near future. According to Retail News Asia, the company is now gearing up to open stores for Balenciaga, Tory Burch and Kurt Geiger in India.
17. Bulgari’s new initiative to work with Indian farmers for sourcing the jasmine used in its perfumes
AKLC COMMENT(S): Awesome Initiative 🙂
Little do we know of the Indian connect of perfumes that carry the hallmark of some of the biggest names in the global luxury industry. But it’s gradually coming to the fore. Roman jewellery brand Bulgari just announced its Flower Gems of India initiative in collaboration with French perfume brand Firmenich and its partner Jasmine Concrete, the largest floral extract exporter of India. The project has its base in two regions of Tamil Nadu wherein a new jasmine-farming floriculture models will be created with 100 family-owned farms. Flower Gems of India will span over a period of three years from 2019 to 2021.
Article link: https://elle.in/article/bulgari-flower-gems-of-india/
18. 9 Amazing Fashion Week Moments You Might Have Missed
The New York Fashion Week Fall 2020 calendar may have been a little thin this season, but there was still a lot to take in — like cheerleaders, and tennis champions, and Rihanna! Plus lots of cool, strange street style. Oh, and some pretty good clothes, too.
Even if you’re right there in the middle of it, it’s impossible to see (or Instagram) everything. Below, a roundup of all the teeny-tiny secretly amazing moments you may have missed during Fashion Week.
Article link: https://www.thecut.com/2020/02/new-york-fashion-week-best-runway-details.html
19. Fendi Opens its First Store in Venice
AKLC COMMENT(S): Wow Nice
Fendi has opened its first store in Venice in the San Marco district. In addition to sporting a fresh design, the newly opened boutique is in the process of becoming LEED-certified in accordance to the international standard of sustainability. Once the store achieves this, it will be the Italian designer’s first eco-consciously-driven project that reduces water and energy consumption while simultaneously increasing indoor air quality.
Article link: https://www.essentialhommemag.com/fendi-opens-its-first-store-in-venice/
20. The Dalmore Just Released a Rare 51-Year-Old Whisky and It Can Be Yours for a Cool $71,000
AKLC COMMENT(S): Oh My God!! 😀
This is one for collectors: The Dalmore has launched its first release of the new decade and it’s a mature and rare one at 51 years of age. The price? $71,000.
Full disclosure—we haven’t tasted it yet, but the chances of this whisky being anything less than stellar are slim, as master distiller Richard Paterson is behind it. Originally distilled in 1966, the limited-edition single malt has aged in a mix of casks that once held bourbon, Port Colheita 1938 or sherry. That decades-long aging process allowed a host of complex flavors to develop: On the nose, the spirit is heady with hints of licorice, Morello cherries, balsamic vinegar and caramel. On the palate, you’ll taste plum, ginger and warm vanilla, according to the brand. Rich chocolate and tropical pineapple notes round out the finish. But we know that some collectors may themselves never sip it, instead choosing to preserve their investment for the future.
Articlelink: https://robbreport.com/food-drink/spirits/the-dalmore-releases-a-rare-71000-single-malt-whisky-2899119/
21. New luxury authentication tools are set to put pressure on top resale companies
AKLC COMMENT(S): So Good! This is much needed
While much of the conversation about fashion resale has focused on the biggest players — billion-dollar companies like StockX or The RealReal — the boom in resale is also being driven by thousands of smaller resellers, some of them that are little more than a single person flipping sneakers out of their bedroom.
Those individual sellers can be powerful, but they also lack the tools that big platforms have built to drive their business. The RealReal, for example,10 uses complex gem-authentication machines, which took years and millions of dollars of R&D to create. With independent sellers lacking the capital and infrastructure needed to independently compete on authentication and pricing, third-party companies are popping up, offering the necessary tools for a price.
Article link: https://www.glossy.co/fashion/new-luxury-authentication-tools-are-set-to-put-pressure-on-top-resale-companies
22. Business of beauty: how the Indian cosmetic industry spurred the rise of startups like Nykaa
AKLC COMMENT(S): We are so proud of Nykaa 🙂
SUGAR is the new Lakme, Nykaa has become a better alternative to your brick-and-mortar neighbourhood store with limited stocks, and men’s grooming is no longer frowned upon. If there’s one industry that has truly been transformed by the waves of tech-induced changes brought about by newer generations and time, it is the cosmetics and cosmeceutical market in India.
Article link: https://yourstory.com/2020/02/nykaa-bigbasket-amazon-cosmetics-industry-startups
23. Louis Vuitton India net profit jumps over 24 percent to Rs 16 in FY19
AKLC COMMENT(S): That’s great news 🙂
Luxury goods retailer Louis Vuitton India Retail witnessed a 24 percent rise in its net profit to Rs 16 crore ($2.2 million) for the financial year ended March 31, 2019. The company had reported a net profit of Rs 13 crore for the fiscal year 2017-18.
24. Supreme’s $8 Oreos Are Already Reselling for More Than $10,000 on ebay
AKLC COMMENT(S): Is luxury a good addiction or a bad one? :O
Forget twisting, licking and dunking—refrain from eating entirely and jack up the price a few thousand dollars. At least, that’s what a set of savvy hypebeasts have done with their Supreme-themed Oreos.
The designer cookies are part of the streetwear powerhouse’s Spring/Summer accessories line which is only launching in Supreme’s New York stores in Manhattan and Brooklyn today, though they have already hit the resale market.
Article link: https://robbreport.com/style/accessories/supremes-8-oreos-are-already-reselling-for-more-than-10000-on-ebay-2900442/
25. You need to check out Drake’s new diamond-studded iPhone case worth Rs 2.8 crore
AKLC COMMENT(S): Oh Woww
Aubrey Drake Graham, popularly known as Drake, is ranked the fourth richest rapper in the world, according to Forbes. The 31- year old Canadian rapper, singer, actor and entrepreneur has a net worth estimated to be over $100 million. His album More Life was the most-streamed album in 2017 and Spotify reports that Drake is the second most streamed artist of all time. In 2010, he released his debut studio album, “Thank Me Later” which debuted at number one on the US Billboard 200 and was certified platinum.
26. Fendi demonstrates a unique new way to wear your hairband
AKLC COMMENT(S): ummm, We’d give this style a pass!
Milan Fashion Week continued last night with the Fendi show, which saw the Italian fashion brand present a very unique new way to wear hairbands, by turning them backwards.
Article link: https://www.harpersbazaar.com/uk/fashion/fashion-news/a31033675/fendi-backwards-hairband/
27. Gucci opens a pop-up shop in Chicago to debut new psychedelic collection and honor the recipients of its first-ever $50,000 grant
AKLC COMMENT(S): WOWW
Gucci debuted its new 1970s psychedelia-inspired collection, GG Psychedelic Pin, over NBA ALL-star weekend.The event also celebrated the first-ever recipients of the House’s Gucci Changemaker North America Grant that was created last year to help increase diversity in the fashion industry.
28. Dior and Fendi to pay record rents for space in Milan’s Galleria mall
Dior and Fendi will pay record-breaking rents for coveted shop space in Milan’s renowned 19th-century Galleria Vittorio Emanuele II shopping arcade after winning an unprecedented auction.
Dior, the French fashion house, will spend just over €5m (£4.1m) a year over the next 18 years to rent a shop in the centre of the elegant marble-floored, glass-vaulted arcade, while its Italian counterpart will pay €2.4m for its new premises.
Article link: https://www.theguardian.com/world/2020/feb/18/dior-fendi-pay-record-rents-milan-galleria-vittorio-emanuele-auction
29. Hate Packing? This Resort’s ‘No Luggage Required’ Option Will Dress You From Head to Toe
AKLC COMMENT(S): Damnnn Interesting! Can’t wait to experience this <3
Of all the wonderful things people love about travel—the escape, the exploration, the romance—packing has never made the list. No matter how luxe the wardrobe, crowding it into luggage, to be wrestled into cars and hauled back and forth to airports and hotels, is nobody’s idea of fun. Even shipping your clothes ahead of time, a popular travel hack, alleviates only some of the headache. But the Ocean Club, a sprawling Four Seasons luxury resort in the Bahamas, has a novel solution: Don’t pack at all. Just show up as you are, as a couple or flying solo, and stylists from the Club’s on-site boutique will dress you head to toe, down to your new Versace underwear.
Article link: https://robbreport.com/travel/hotels/ocean-club-no-luggage-required-package-details-2898735/
30. Gucci expands Beverly Hills store and opens a new restaurant
AKLC COMMENT(S):
Gucci Osteria da Massimo Bottura Beverly Hills, an intimate restaurant by world-renowned three-Michelin-star Chef Massimo Bottura, has opened on the roof of Gucci’s Los Angeles store. Along with that, it announces the renovation and expansion of its flagship store in Beverly Hills, California.
Article link: https://www.luxuryfacts.com/index.php/sections/article/Gucci-expands-Beverly-Hills-store-and-opens-a-new
31. Is Virgil Abloh the Karl Lagerfeld for Millennials?
Many in fashion are horrified by the idea. That doesn’t mean it’s wrong.
Virgil Abloh, the founder of Off-White and the men’s wear designer of Louis Vuitton, is the kind of fashion figure that seems to demand comparison.
Article link: https://www.nytimes.com/2020/02/26/style/virgil-abloh-karl-lagerfeld.html
32. The Best Looks from Paris Fashion Week Fall 2020
AKLC COMMENT(S): Celine being a personal favorite 😉
Paris is formally known as the City of Light, less formally as the city of love, and, for those who are sartorially inclined, the capital of the fashion industry. It is home to some of the biggest luxury labels with the most prolific designers who create collections that are directional, reflective of the times, and, simply put, make us dream. From Christian Dior to Louis Vuitton, follow our reverie of the best of Paris Fashion Week fall 2020.
Article link: https://www.harpersbazaar.com/fashion/fashion-week/g31102501/paris-fashion-week-fall-2020/
33. Prada hires Raf Simons as co-creative director
AKLC COMMENT(S): All the best 🙂
For years after it listed its shares on the Hong Kong stock exchange in 2011, Prada’s business looked considerably blander than its iconoclastic blend of ugly chic, counterculture, politics and fashion. No longer. Its share price rose by a quarter in the three months to January, faster than at bigger luxury groups such as France’s lvmh or Kering. Investors liked the look of its new partnership with L’Oréal, a cosmetics giant, and of investments in online sales. But their enthusiasm was based chiefly on an expectation of more radical change: either a takeover by a bigger luxury conglomerate or an internal overhaul.
Article link: https://www.economist.com/business/2020/02/27/prada-hires-raf-simons-as-co-creative-director
34. Can Luxury Hotels Like Four Seasons and The Peninsula Make a Social Impact?
AKLC COMMENT(S): Interesting!
Luxury hospitality and social change haven’t always gone hand in hand. But today a new definition of luxury travel is taking hold.
Sure, luxury guests want all the trappings usually associated with upscale hotels, like perfectly appointed rooms, fine dining, and impeccable service. But millennials and Gen Z travelers want to stay at properties that can demonstrate they have a soul too.
Article link: https://skift.com/2020/02/28/can-luxury-hotels-like-four-seasons-and-the-peninsula-make-a-social-impact/
35. Luxury Brands Go All In On TikTok
AKLC COMMENT(S): 85% of our audience is still not on Tik Tok!
Historically luxury companies have been slower to adopt new trends, but they are increasingly game to bet on TikTok.
Dating back to late 2018, fashion brands started to add the platform to their social marketing mix, such as Calvin Klein and Ralph Lauren. Moving into 2020, a wave of brands are jumping onto TikTok like Prada, Alice + Olivia, Dolce & Gabbana, Tory Burch, Burberry and Missoni.
Article link: https://digiday.com/marketing/luxury-brands-go-tiktok/
36. Burberry’s New Augmented Reality Search Lets You Try Before You Buy
AKLC COMMENT(S): So cool ! Enriching shopping experiences 🙂
Exciting news for the tech-savvy fashion lovers out there: Burberry has teamed up with Google Search to create a new and immersive shopping experience with Augmented Reality (AR). Now when shoppers search for a Burberry handbag, they have the option to view the product in 3D, right in the comfort of their own homes.
Article link: https://www.harpersbazaararabia.com/fashion/featured-news/burberry-launches-augmented-reality-search
37. More Prada x Adidas Superstar Styles Are Reportedly Dropping Soon
Prada and Adidas are partnering again to drop new limited-edition styles of the iconic Superstar sneaker that may be released very soon.
Article link: https://footwearnews.com/2020/focus/collaborations/prada-adidas-superstar-collaboration-rumored-release-info-1202935890/
