Luxury goods sector

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Gucci owner Kering issues profit warning after China sales slump
Like-for-like sales at luxury goods group down by 10% in first quarter, weighed by nearly 20% fall at Gucci

Julia Kollewe

20, Mar, 2024 @8:58 AM

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Luxury clothing brand Matchesfashion to enter administration
More than half workforce face losing jobs after new owner Frasers says it is unwilling to fund turnaround

Sarah Butler and Jane Croft

08, Mar, 2024 @8:15 AM

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Tax-free shopping for tourists in UK may return as government eyes rethink
Government spending watchdog asked to review costs and benefits of then chancellor Rishi Sunak’s 2020 ‘own goal’ decision

Simon Goodley

04, Feb, 2024 @6:19 PM

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Watches of Switzerland shares dive by a third after revenues warning
UK’s biggest Rolex and Omega seller becomes latest luxury retailer to be hit by switch in spending by aspirational shoppers

Sarah Butler

18, Jan, 2024 @7:09 PM

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Burberry issues profit warning as Christmas shoppers shun pricey trenchcoats
British brand affected by continued slowdown in luxury demand during cost of living crisis

Mark Sweney

12, Jan, 2024 @10:21 AM

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Harrods opens private members’ club in Shanghai costing £16,500 a year
Private jet flights and rare whiskies on offer at 250-member club aimed at wealthy Chinese people

Rupert Neate

22, Dec, 2023 @10:44 AM

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Hermès billionaire plans to leave half of fortune to ex-gardener and cut ties with charity
Nicolas Puech begins legal process of adopting former gardener and and cancel agreement with charity

Rupert Neate Wealth correspondent

19, Dec, 2023 @2:03 PM

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Fine aroma, full body… no units: has alcohol-free wine’s moment arrived?
Vintners may finally have cracked the secret to delivering a sober but satisfying toast while keeping all the flavour

Alice Fisher

16, Dec, 2023 @4:12 PM

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Frasers Group warns of ‘softening’ in global luxury market as sales fall
Cost of living crisis partly responsible but total sales at Mike Ashley’s company rise

Sarah Butler

07, Dec, 2023 @10:31 AM

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‘Insensitive’: Pharrell Williams’ $1m Louis Vuitton handbag attracts criticism
Millionaire Speedy bag is made of crocodile leather and reportedly sold on made to order basis – and only to certain clientele

Ellie Violet Bramley

09, Nov, 2023 @4:02 PM

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Picasso masterpiece kicks off auction season forecast to sell $2.5bn in art
The 1932 painting of secret ‘golden muse’ heralds first big lot of autumn with Warhol and Rothko works also up for sale

Rupert Neate Wealth correspondent

08, Nov, 2023 @3:20 PM

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From bone china to rare whisky, Advent calendars open doors to more luxuries
Some countdown-to-Christmas offerings from stores and brands now cost hundreds, and even thousands, of pounds

Zoe Wood

04, Nov, 2023 @11:00 AM

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