All Luxury articles – Page 8
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NewsReintroducing tax-free shopping would be ‘welcome relief’ for luxury sector
Reinstating tax-free shopping for tourists visiting the UK would be a welcome relief for the luxury sector, which is suffering from softer consumer demand, according to GlobalData.
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NewsCroydon shopping centre boosted by 12 new signings
Croydon shopping centre Centrale & Whitgift has announced 12 new signings as owner Unibail-Rodamco-Westfield says demand from occupiers is at an “all-time high”.
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NewsFarfetch to cut up to 30% of workforce as Coupang takes over
Farfetch is set to cut up to 30% of its total workforce as global ecommerce retailer Coupang takes ownership, Drapers has reported.
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NewsMytheresa ‘outperforms’ as luxury fashion sales grow
Luxury fashion retailer Mytheresa has hailed its sales growth during the second quarter, despite falling profits, as it “outperformed almost all competitors” and the demand for luxury fashion goods edged up.
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NewsFarfetch boss steps down amid Coupang takeover
Farfetch boss José Neves is set to step down from his role as chief executive at the luxury fashion retailer, according to reports.
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NewsWatches of Switzerland welcomes VAT-free shopping review as sales slip
Upscale retailer Watches of Switzerland said it is “encouraged” by a review of VAT-free shopping as sales remain under pressure in tough trading conditions.
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NewsAmazon Fashion teams up with UK luxury resale platform
Amazon’s European fashion arm is collaborating with luxury resale platform Hardly Ever Worn It to offer a range of pre-owned items from luxury brands.
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NewsTreasury to review VAT-free shopping ‘tourist tax’ ahead of Budget
The Treasury is reviewing the so-called ‘tourist tax’ on VAT-free shopping ahead of the spring Budget and could ditch the policy in a boost for retail.
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AnalysisLast Christmas: What can the festive period tell us about the retail year to come?
With another golden quarter over, Retail Week unpicks the key trends surrounding Christmas 2023 and looks at what they might mean for the year ahead
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NewsLVMH profits and sales grow in ‘another historic year’ for Sephora
Luxury goods conglomerate LVMH reported a surge in sales and profits as beauty giant Sephora delivered an “exceptional performance” for the full year 2023.
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NewsFarfetch investors worried over ‘value destruction’ from Coupang takeover
A group of investors behind Farfetch are concerned over the “value destruction” as a result of Coupang’s acquisition of the global ecommerce giant and have appointed advisers to evaluate their options.
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NewsWatches of Switzerland issues profit warning
Watches of Switzerland has issued a profit warning as shares plummeted by more than 25% this morning. In the run-up to Christmas, consumers opted to spend on fashion, beauty, travel and hospitality rather than luxury.
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NewsMulberry sales decline as UK VAT hits luxury sector
Luxury fashion retailer Mulberry has posted a fall in sales which the group said was impacted by a “challenging macroeconomic backdrop” and a decline in luxury consumer spending.
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NewsBurberry drops profit expectations as demand for luxury slows
Burberry has dropped its full-year profit guidance after it reported that sales in the run-up to Christmas were hit by waning demand for luxury.
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AnalysisWhat will 2024 bring? Retail bosses predict the year ahead
As 2024 begins, what do retailers think will top the agenda for the year ahead? We asked leaders of some of the UK’s biggest retail businesses to get out their crystal balls and make some predictions
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NewsFrasers Group snaps up Matches in £52m deal
Frasers Group has snapped up luxury fashion retailer Matches in a £52m deal as it looks to strengthen its luxury offering and elevate its portfolio.
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InterviewQ&A: eBay director of luxury on ‘diminishing the stigma’ of buying pre-loved
As pre-loved luxury becomes growingly more popular, eBay director of luxury Keith Metcalfe sat down with Retail Week ahead of Christmas to discuss the diminishing stigma of gifting secondhand, the importance of authenticity guarantee and why pre-loved and luxury go hand in hand
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NewsCoupang completes $500m rescue deal for Farfetch
Global ecommerce retailer Coupang has acquired Farfetch, injecting $500m (£394.8m) in emergency funding into the embattled luxury fashion retailer.
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NewsFarfetch in talks with white knight investor to go private
Farfetch is attempting to finalise a rescue deal with a private equity-backed buyer that would see its shareholders get wiped out.
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NewsMike Ashley eyes deal to bring Matches into Frasers Group
Retail tycoon Mike Ashley is in negotiations about a deal that would see Frasers Group take control of Matches.