November 13, 2023
Curated headlines by Luxury Roundtable
We bring you the latest headlines in luxury to save you time. Please note that most sources are behind paywalls.
On the premiere episode of The Luxury Stance Podcast, co-hosts Mickey ALAM KHAN and Scott Kerr talk about how competitors LVMH, Kering and Richemont and their constituent brands are weathering the market and why a brand such as Hermès stokes desire, creates demand and grows sales without diluting its positioning or perception in the marketplace. (Luxury Roundtable)
NRF, largest US sector lobby, crafts 4 principles for use of AI in retail
The National Retail Federation released its Principles for the Use of Artificial Intelligence in the Retail Sector to support the industry’s artificial intelligence (AI) governance and strategic planning. (Luxury Roundtable)
In conversation: Rebecca Robins discusses philanthropy with Do One Better’s Alberto Lidj
In this conversation with Alberto Lidj, founder of philanthropy platform and podcast Do One Better, London-based Robins Robins discusses philanthropy, family offices and multi-generational giving, among other topics. (Luxury Roundtable)
Coming up next in November for Luxury Roundtable members
As part of its mission to upskill members, Luxury Roundtable will debut the following events and special reports as we enter the holiday season. (Luxury Roundtable)
Luxury’s new battleground: Why luxury training is the secret weapon
While consensus estimates of Équité, Bain & Co., and other luxury advisors predict growth between 5 percent and 10 percent for the luxury sector in 2023 and a long-term CAGR of around 6 percent until 2030 — a return to the level of growth seen between the mid-1990s and 2019 — the last few quarters have clearly separated the best managed luxury brands. (Jing Daily)
What is motivating China’s new hard luxury consumer?
Over the past four decades, China has experienced a transformative economic journey and established itself as a potent global consumer market. (Jing Daily)
Hong Kong seeks to reclaim status as China’s retail and tourism hub. Will it succeed?
From fashion retailers to hospitality providers and financial institutions, many businesses in Hong Kong are hoping the special administrative region has turned a corner and have their eyes set on a new year. (Jing Daily)
Diwali takes its place as the next big shopping holiday
India’s five-day festival of lights doesn’t come close to Black Friday or Singles Day in terms of overall sales, but brands see plenty of room to grow. That, plus what else to watch for in the coming week. (The Business of Fashion)
Richemont joins the luxury sales ‘moderation club’
The Swiss owner of brands including Cartier, Jaeger-LeCoultre and Chloé saw sales growth decelerate in Q2 as demand weakened in key markets like Europe, which sent the share price down 7.6 per cent. Asia and the jewelry category were bright spots. (Vogue Business)
Chinese shoppers spend less at home, and abroad
In September, arrivals from China to London's West End were just 2 percent shy of 2019 figures, but spending was down by 58 percent. (WWD)
Middle Eastern carriers place orders worth tens of billions of dollars
Deals for over 100 aircraft on first day of Dubai air show cement industry rebound despite regional tensions. (Financial Times)