The market for home furnishings is “likely getting worse before it gets better.” So said RH Chairman and CEO Gary Friedman Wednesday (March 29) during the luxury home furnishings company’s quarterly earnings call. Persistent inflation, record-high interest rates, an underperforming stock market, an unexpected banking crisis and a 45%...
Luxury resale platform Kream has secured $168 million in a Series C funding round, valuing the company at approximately $742 million, doubling its previous value of $306 million as of October 2021. Kream’s total funding to date is now over $266 million, according to TechCrunch on Friday (March 23). ...
Luxury retail marketplace Farfetch is facing the same inventory and macroeconomic headwinds as other players in the sector but is pushing forward with plans to do more deals and further its mission to be the one-stop shop for high-end shoppers everywhere. Like apparel retailers at...
South Korea reportedly leads the world in per capita spending on personal luxury items. The country’s citizens spend $325 per capita each year on these goods, compared to America’s $280 and China’s $55, CNBC reported Thursday (Jan. 12), citing figures from Morgan Stanley. South Korea’s spending on luxury...
January 28, 2020
Certain events stand out in stark relief for reminding us of just how interconnected the global economy is in the 21st century. Bank runs. Trade wars. And now, most recently, the coronavirus pandemic that, at this writing, has spread to 18 countries across the globe, spanning Asia, Europe and North America. The death toll is on […]
February 11, 2019
A common, enduring fantasy for many consumers — a group that likely includes many PYMNTS readers and writers — is walking into a high-end retail store, chain or boutique that sells luxury...
June 09, 2023
Shares of luxury eCommerce retailer Farfetch have been on the rise. The British luxury goods merchant’s shares rose as much as 15% Friday amid elevated trading volume, Seeking Alpha reported Friday (June 9). The company’s shares have risen more than 40% over the past month and 30% since the beginning of the year, according to the report. The report […]
March 30, 2023
The market for home furnishings is “likely getting worse before it gets better.” So said RH Chairman and CEO Gary Friedman Wednesday (March 29) during the luxury home furnishings company’s quarterly earnings call. Persistent...
March 23, 2023
Luxury resale platform Kream has secured $168 million in a Series C funding round, valuing the company at approximately $742 million, doubling its previous value of $306 million as of October 2021. ...
January 13, 2023
South Korea reportedly leads the world in per capita spending on personal luxury items. The country’s citizens spend $325 per capita each year on these goods, compared to America’s $280...
