A report published this month by the advisory services company ranks three color cosmetics, fragrance, and personal care companies in the top ten and includes thought-provoking data on the luxury market both regionally and globally.
The announcement of the hiring of former Apple executive, Ian Rogers, as LVMH’s new head of digital confirms the luxury goods multinational is rising to meet the promise of e-retailing in the luxury sector.
After raising over US$15 million in funding from investors, Singapore-based e-commerce platform, Luxola has been snapped up by global luxury goods corporation, LVMH.
As the holiday approaches fast (Feb 19), various luxury brands are investing in increasing their visibility to fight off the competition. Something, perhaps Chanel isn't too worried about, due to its' popularity with Chinese consumers.
Market analysts at Bain & Co have stated that 2014 will see growth of the global luxury goods market diminish, calling up weaknesses in Europe, Russia and China as the key reason behind the slowdown.
Despite Chanel’s vast portfolio of luxury goods, it’s the brand’s investment in the cosmetics sector that is coming up trumps, currently accounting for 55% of its annual revenue.
The L’Oréal Group has announced that its Lancome brand president Youcef Nabi has resigned and whilst reports speculate over the reasons, there is no official statement from the cosmetics maker.
The cosmetic giant has been posting healthy growth in the last two years that contrasts with the state of the global economy, of which it attributes to a portfolio of luxury brands, particulary its 'Made in France' range.
Despite Americans receiving conflicting messages about the state of the economy, a recent Harris Poll EquiTrend study has found various luxury brands to have made gains in brand equity over the past year.
Market research firm, Ruder Finn has forecasted that the luxury goods market is still growing due to a considerable amount of new consumer spending patterns emerging despite a cautious China market.
Obscene Jeans Corp (OBJE) is to enter the Chinese beauty market through the acquisition of luxury importer Beijing Beautyfresh International Trade Co, which is a Chinese-government-licenced importer/exporter of luxury goods.
China has recently overtaken the US as the second largest market for luxury goods and growth is not expected to slow, making it a crucial target for high-end cosmetic players.
Despite challenging times within the sector, luxury packaging players have not stopped innovating, according to the organizers of this year’s Luxe Pack event in New York.
The economic crisis meant that 2009 was a struggle for prestige cosmetic players, but financial results show that in the last quarter of the year things started to improve.
Although the premium and luxury personal care market has been hard hit during the economic downturn, market researchers predict it will bounce back by 2011.
Cosmetics and fragrance packaging specialist QSLD Paris has opened
up its second affiliate in Geneva, in a move that aims to grow its
presence on a global basis.
Security threats have already made the headlines this week, but now
it seems that general global political instability is affecting
consumer confidence relating to luxury cosmetic and fragrance
purchases.
YSL Beauté - part of Italian luxury-goods firm Gucci Group - has
reported a drop in sales for the fourth quarter of 2003. As the
Gucci Group records its best ever quarterly revenue results, Beauté
stands out as the division struggling...
