Madison Avenue New York high street Madison Avenue saw the opening of 11 retailers in the first half of the year. Between Jan 1. and June 30, Madison Avenue saw new openings including boutiques, art galleries and spa facilities, motioning that the retail stretch between East 57th Street and East 86th Street is popular among consumers and brands. New York real estate is notoriously expensive, with the priciest retail street
Roberto Cavalli gown on display at The Met The Metropolitan Museum of Art’s Costume Institute has announced the expansion of its current exhibit “China: Through the Looking Glass” through Labor Day Weekend. China: Through the Looking Glass opened on May 7 and explores the influences Chinese culture has had on Western high-fashion through a juxtaposition of couture and avant-garde fashion pieces with Chinese art and cultural artifacts. While many brands
I say potato, you say potato LVMH-owned Champagne house Krug is having international chefs say potato with a culinary challenge. Krug has recruited 15 world-renowned chefs to pair its Grande Cuvée Champagne with potatoes in creative and innovative ways. Krug often emphasizes that its Champagnes pair well with a variety of foods such as lobster and even traditional pub grub, fish and chips. Start your fryers The 15 chefs taking
Patrick Lorentz is strategy director at The O Group By Patrick Lorenz The Boston Consulting Group recently announced its prediction that luxury sales growth will slow to single digits over the next 10 years. Strong sales figures from China have played a huge part in the industry’s near double-digit growth year-over-year for the past decade. With Asian luxury consumers reeling in their spending, and luxury consumers holding steady throughout the
Gucci fall/winter 2015 campaign Each year, more than $28.5 billion in profits is lost in the European Union due to counterfeit apparel and accessories, according to a new report by the EU Observatory. The “Quantification of IPR Infringement” report, which looks at the cosmetics and personal care sector as well as apparel and accessories, dissects the economic impact counterfeit goods have on employment in intellectual property rights intensive industries and how
How To Spend It’s Oct. 19 cover Publisher Pearson is selling the FT Group to Japanese-based global media company Nikkei Inc. for a gross amount of $1.3 billion. This sale includes the FT newspaper, the publication’s Web site and supplement magazine How To Spend It, along with other titles, with a combined circulation of 737,000. With Nikkei’s experience in running journalistic publications, Pearson expects the group to “continue to flourish”
Akash Kaura is part of the insights team for Asia-Pacific at LinkedIn Marketing Solutions By Akash Kaura Luxury goods and services are a significant market worldwide. The 350-million strong consumer base is an enormous revenue opportunity, according to Bain. What is more, Hong Kong consumers spent close to U.S. $8 billion on luxury goods in 2014. Their counterparts in Singapore spent close to U.S. $4 billion with Indonesians weighing in at
Armani’s Le Sac 11 handbag As consumers are becoming more digitally inclined, luxury apparel and accessories brands are finding ways of telling their stories through creative films or multimedia projects. Whether celebrating an anniversary or exploring an iconic garment, labels brought consumers into the discussion through digital, often enabling them to become part of the conversation. Brands also found innovative ways to bring their fashion to life in public, using
Neiman Marcus in Walnut Creek, CA Fashion retailer Neiman Marcus is partnering with online luxury consignment marketplace The RealReal to provide luxury consumers with a simple way to consign their clothes. The new initiative will allow consignors to receive payment for their luxury goods in the form of Neiman Marcus gift cards with the added bonus of an additional 10 percent of the value. In this way, consumers can continue
Neiman Marcus Memory Mirror In the first half of 2015, retailers embraced technology to ease the purchasing process and elevate the in-store experience for their consumers. From smart mirrors and mobile payments to new social media networks that connect shoppers, multi-brand stores worked to surprise and delight their customers across channels. In addition, creative campaigns challenged norms and generated conversations. Here are the top 10 retail efforts of the first half of