Business

Plano’s Legacy West Lures Luxury Brands

Legacy West, a $500 million, mixed-use development in Plano, Tex., will see a string of luxury store openings late this spring including Louis Vuitton, Tiffany & Co., Tory Burch and Chanel Beauty. These stores, including Gucci which opened last week, will occupy a combined 16,529 square feet of retail space at Legacy West. Louis Vuitton […]

Business

Luxury cars repossessed from high roller over unpaid debts

An Auckland businessman who gained notoriety after his $400,000 Lamborghini was towed because he misused a disabled parking spot has had the luxury car repossessed and sold over unpaid debts. Gerard Peters, 30,target=”_blank”>hit headlines in 2015 after his $400,000 Lamborghini was photographed in a disabled parking spot at West Auckland shopping complex LynnMall. While Peters […]

Business

Valentino Continues to Build C-Suite

MILAN — Valentino’s chief executive officer Jacopo Venturini continues to bulk up his team, adding new roles to the company that are attuned to the times. Enzo Quarenghi is joining the Rome-based luxury house as chief client officer and digital acquisition, effective Jan. 12. This position is part of a new division spearheaded by Venturini, to […]

Business

Marc Metrick on Luxury Disrupted, Remaking the Matrix and Buy-Now-Wear-Now

Heading into the pandemic, Saks Fifth Avenue had its long-term strategy, coined “luxury disrupted,” in place. “The first pillar is, don’t forget the fashion,” said Marc Metrick, president and chief executive officer of Saks Fifth Avenue. “That’s something some of us have done — not Saks. It’s knowing our place with the consumer. “We are […]

Business

China Luxury Goods Market to Grow 48% This Year, Says Bain and Tmall

SHANGHAI — The luxury goods market in mainland China will likely achieve 48 percent growth in 2020, reaching nearly 346 billion renminbi, or $52.8 billion, according to a joint report by Bain and Tmall released Wednesday, doubling China’s overall share of the global luxury market this year. On the e-commerce front, China’s annual luxury online […]

Business

EXCLUSIVE: JD.com Opens Omnichannel Solutions to Luxury Brand Partners

LONDON — The COVID-19 pandemic has encouraged JD.com, China’s largest retailer and second-largest e-commerce player, to be ambitious about selling luxury online in China. Since the pandemic subsided in China, JD.com has seen promising growth in this category. In the first hour of the 618 shopping festival, which began June 1, sales of luxury products […]