Louis Vuitton, LVMH's top fashion brand, will raise prices globally on Wednesday as a result of increased manufacturing and transportation costs, a spokesperson for the French luxury goods company in China told Reuters.
January saw another slowdown for e-tail sales with the new IMRG Capgemini Online Retail Index — which tracks the sales performance of 200+ e-tailers — showing the worst figures ever recorded with a decline of 24.4%.
The disappearance of Gap from UK high streets may have been one of the most headline-grabbing effects of the pandemic, but it's soon to make a comeback to physical retail in Britain, albeit in a slightly different form.
London Designer Outlet (LDO) is about to be boosted yet again with another major retail brand upsizing at the west London mall. Nike is endorsing its presence there by opening a much bigger store on the 84-acre site.
Kenzo, Prada and Ambush are some of the many luxury labels active in the virtual world, whether commercialising NFTs or making significant investments in the metaverse, as Philipp Plein and Gucci did recently.
UK retail footfall continues to lag the pre-pandemic period but also to recover from the disaster year of 2020. The latest weekly report from Ipsos showed non-food footfall was down 24.6% on a two-year basis last week.
In two years, the share of sales accounted for by own brands has risen from 9% to 11%, according to a study by IADS, the association of 12 international department store chains whose own-brand business is growing.