This week’s Chinese Golden Week holiday is anticipated to boost luxury spending in the UK. While much of 2018 has been characterised by slow sales across London and the UK, insight from retail tourism expert, Global Blue, indicates that a positive shift in international spend may be on the way as the bi-annual Chinese holiday,…
Millennial shoppers behind luxury spending boost in China
Millennials are the reason behind the increase in luxury spending in China, according to a report from Reuters. Brands like Gucci and Louis Vuitton have started to invest in the Chinese market recently, despite a slowing economy. Cash rich millennials are the reason for this, and their favour of smaller cities rather than expensive locations…
REVEALED: What are jewellers in the luxury market doing to evolve and innovate?
In a season of uncertainty for the UK jewellery industry, luxury jewellers are staying in the fast lane and not letting national circumstances slow them down. While sales may be impacted, although latest reports filed by Companies House reveal top jewellers dealing with luxury items are actually posting an increase in turnover, this sector of…
Brits alter budgets to accommodate ‘nice-to-have’ purchases
British shoppers have made adjustments to their budgets in order to splash out on non-essential items, a new report reveals. Consumer spending growth for February saw a minor increase of 3.8% year-on-year as a result of consumers altering their spending habits to accommodate ‘nice-to-have’ items. According to data by Barclaycard, entertainment was a driving force…
London’s Bond Street becomes most expensive retail space in Europe
Rocketing rents and the crash in the pound since Brexit has seen rents on London’s New Bond Street rise to become the highest in Europe and the third highest in the world. Only New York’s Upper 5th Avenue and Hong Kong’s Causeway Bay retain their first and second place rankings, according to research from global real estate giant Cushman & Wakefield. Avenue des…
REACH LIST 2017: Top five luxury brands
Tiffany & Co. continues to win the battle for social influence in the luxury jewellery brand sector, with all social media channels securing a boost in traffic. The iconic jewellery brand has always been a power player online, using the power of social media to drive sales and consumer awareness. Like many brands, Tiffany &…
LVMH reports 14% sales increase for the first nine months of 2017
LVMH has reported a 14% increase in revenue, reaching €30.1 billion (£26.7bn), for the first nine months of 2017. All business groups recorded double-digit organic growth, with the exception of Wines and Spirits. Sales of jewellery and watches, which include Chaumet and Bulgari, rose by 13% to €2.8 billion (£2.4bn) in the nine months to…
Farfetch named fastest growing retailer
Online luxury fashion retailer Farfetch has been crowned the UK’s fasted growing retailer, ahead of major industry players such as ASOS, and Harrods. According to a new retail growth index from OC&C Strategy Consultants, Farfetch, which stocks jewellery designers such as Carolina Bucci, Delfina Delettrez and Rachel Entwhistle, scooped the top spot after ramping up…
World’s first wedding retail department store to open in London
A permanent wedding retail, planning and inspiration destination is set to launch in London, featuring a bespoke jewellery offering. Located within one of the capital’s most lauded wedding and events venues, One Marylebone, the wedding department store looks to provide an end-to-end wedding planning experience, curated by leading industry experts. Named The Wedding Gallery, the…
Jewellery overtakes classic cars in the battle for luxury investments
Jewellery has caught the eyes of investors over classic cars in the last 12 months, reveals the latest report by Knight Frank Luxury Investment Index (KFLII). According to KFLII, which tracks the price growth of 10 luxury investment sectors, classic cars, which has dominated the rankings over the past few years, has moved into sixth…
