On October 24, luxury fashion house Hermes announced its third quarter sales. The company posted solid growth of 15.6% year-on-year, with only a slight slowdown in the pace of growth.
Retail
At the U.S. Open, which runs through September 10, luxury jewelry brand Tiffany & Co. is partnering with Snap Inc. and USTA to provide visitors with an interactive experience using immersive AR mirrors.
The popularity of SKIMS, the apparel brand co-founded by Kim Kardashian, continues unabated. In just four years since its founding, the brand has quadrupled its valuation to become a unicorn company.
Marc Jacobs Beauty is coming back with a new agreement with Coty, a beauty conglomerate that has created fragrances for numerous luxury brands.
Jewelry brand Pandora is launching three new jewelry collections featuring lab-grown diamonds: Pandora Nova, Pandora Era, and Pandora Talisman.
Last April, luxury marketplace Farfetch made a splash with its entry into the beauty sector. However, the company has recently been facing difficulties in running its beauty division, and industry insiders are reporting that Farfetch’s beauty division may be shutting down.
Leading sports apparel brand Nike has announced plans to partner with FitLab, an integrated operating company of performance lifestyle brands, to open group fitness studios called Nike Studios later this year.
On August 4, Gap announced its collaboration with LoveShackFancy. A total of 76 capsule collections will be available in stores and online.
Since the pandemic, consumers’ expectations of physical stores have changed dramatically. In recent years, it is no exaggeration to say that having the right technology tools in stores is an “indispensable prerequisite” for improving the convenience of stores.
On July 28, WWD revealed that Prada will launch its first skincare and makeup products.