When it comes to living large, big earners like to splurge on making memories more so than on, say, a new handbag, PYMNTS Intelligence research reveals. By the Numbers The February/March installment of the PYMNTS Intelligence “New Reality Check: The Paycheck-to-Paycheck Report” series, subtitled “Why...
With the moderately well-off shopper spending differently than the high-earner, luxury brands are seeing aspirational shoppers forced to give up their favorite indulgences. On a call with analysts Tuesday (April 16) discussing its first quarter fiscal 2024 financial results, luxury giant LVMH shared that it...
Luxury firms Chanel and LVMH are reportedly competing to become the new owner of a building on Manhattan’s Fifth Avenue. Both companies have been in talks to buy the location on the luxury shopping corridor, Bloomberg reported Monday (April 8). Global luxury retailers have been competing to buy buildings on Fifth...
Luxury brands like Gucci are reportedly spending billions to stay at high-profile addresses. As The Wall Street Journal (WSJ) reported Saturday (April 6), these companies are worried that if they don’t snatch up their flagship stores, one of their competitors will purchase the property and evict them....
November 30, 2023
After a year filled with surprising developments, Farfetch appears to be continuing its trend of unexpected moves. The online luxury retailer revealed this week that it will not be disclosing its financial results for the third quarter of 2023, and the scheduled conference call for the same has been canceled. “The company expects to provide […]
November 20, 2023
The COVID-19 pandemic drastically reshaped the landscape of weddings, giving rise to the trend of micro weddings. These smaller-scale celebrations, with trimmed guest lists and downsized ceremonies, were the choice...
February 28, 2023
The recovery of physical retail after the massive rise in eCommerce is bringing about cross-pollination of sorts as popular online payment methods migrate to in-store checkouts. A clear example of...
July 15, 2020
Consumers were already changing their retail preferences before anyone had heard of COVID-19, let alone had their life utterly upended by it. Nick Molnar, co-founder and U.S. CEO of Afterpay,...
May 05, 2024
If the luxury eCommerce space is tumbling down, Mytheresa plans to come out on top. “I think there is an understanding in the market that the industry is consolidating, and that there are some winners and some losers,” Michael Kliger, the company’s CEO, told the Financial Times (FT) Sunday (May 5). “We believe, and the stock market certainly believes, […]
April 08, 2024
Luxury firms Chanel and LVMH are reportedly competing to become the new owner of a building on Manhattan’s Fifth Avenue. Both companies have been in talks to buy the location on the luxury shopping...
April 07, 2024
Luxury brands like Gucci are reportedly spending billions to stay at high-profile addresses. As The Wall Street Journal (WSJ) reported Saturday (April 6), these companies are worried that if they don’t snatch...
January 23, 2024
Zalando, the European fashion and lifestyle eTailer, is elevating the “designer experience” on its website and app by introducing a luxury boutique-style space dedicated to designer brands. The redesigned “Designer”...
