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Business

Brexit sends Brits to Europe for Louboutins in a blow to UK luxury

British shoppers are heading to Europe for ‘cheaper’ luxury, while the UK loses its competitive edge as the only major destination with no VAT-free shopping for international visitors.

Culture news

Keanu Reeves set to receive stolen Rolex watches from Chilean police

Keanu Reeves will soon be able to wear his stolen Rolex watches again after Chilean authorities announced the Canadian actor had identified the luxury timepieces from items snatched during a series of high-profile robberies in December 2023.

Business

European luxury market is growing and TikTok is increasingly key

Despite the global slowdown in the luxury goods sector, Europe is showing growth. In 2024, the value of the market in the region increased by 3% and reached almost €110 billion. What is behind this paradox?

Lifestyle

Jane Birkin’s original Hermès bag sells for €8 million at auction

Born out of a chance encounter, Jane Birkin's original Hermès bag has surpassed all expectations and sold for €8.6 million in Paris to become the second most valuable fashion item ever bought at an auction.

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Business

L’Oréal acquires a majority stake in British skincare brand Medik8

The acquisition is the latest addition to L’Oréal’s skincare portfolio, as the beauty giant seeks to cash in on the dermocosmetics boom.

Lifestyle

What will Jonathan Anderson bring to Dior as new creative director?

After stepping down from the role as creative director of luxury fashion house Loewe, Northern Ireland-born Jonathan Anderson has been appointed as creative director of both the women's and men's collections at Dior – becoming the first person to take on the dual role since Christian Dior himself.

EuroVerify

Are Europe's luxury handbags all produced in China?

The US and China’s ongoing trade war has taken to TikTok and European fashion houses have found themselves sandwiched in the middle.

Business

LVMH CEO criticises Brussels bureaucrats as US-EU tensions simmer

French businessman Bernard Arnault warned trade tensions with the US would wreak havoc on European businesses — criticising Brussels' negotiation skills.

Business

How Trump’s tariffs are dampening hopes of a luxury sector revival

The global luxury sector, which has been facing slowing demand and an eroding customer base in the last several months, could be further hit by the escalating trade war between China and the US.

Business

Hermès leaves wealthy clients to pay for cost of Trump tariffs

The luxury company, based in France, announced that it would be hiking prices in the US to offset the impact of US President Donald Trump’s 10% tariffs against the EU.

Art

Cartier’s glittering legacy showcased in new V&A exhibition

From royal tiaras worn at coronations to celebrity showstoppers on red carpets, a new exhibition at London’s V&A Museum is showcasing over a century of Cartier’s most iconic and extravagant creations.

Business

Ferrari raises prices for some models in response to Trump’s tariffs

Ferrari announced that it would increase prices for certain models up to 10% in response to Trump’s 25% auto tariffs on European car imports. The company added that its 2025 profit margins face a potential 50 basis-point reduction risk.

Business

Prada sales soar as it eyes Versace acquisition despite luxury crunch

Robust earnings place the brand in a stronger position to acquire Versace from Capri Holdings.

Business

Luxury carmaker Aston Martin to cut 170 jobs after another annual loss

Job losses are expected to save Aston Martin £25 million as it struggles with supply chain disruptions, inefficiencies, and weak Chinese demand.

Business

Northern Ireland hotel takes a punt on €1,200 cocktail – who’s buying?

The Merchant Hotel's new tipple has been described as a "masterpiece of Irish whiskey" - but is there a market at €1,200 a pop?

Business

LVMH earnings highlight uneven recovery in the luxury goods sector

LVMH posted subdued quarterly results due to continued weakness in the fashion and leather goods segment. The results slightly exceeded analysts' estimates for overall performance.

Business

LVMH sells Stella McCartney minority stake as luxury sector struggles

LVMH has already sold the streetwear fashion brand Off-White recently, as well as its stake in Cruise Line Holdings amid dampened global demand for luxury goods and falling Chinese sales.

Business

Jaguar Land Rover invests in custom paint services for luxury clients

Wealthy clients will be able to match their car's palette with their private jet or yacht colours, added the company statement.

Business

European luxury stocks rally as Richemont posts record quarterly sales

Richemont reported strong quarterly results, driven by festival sales, despite ongoing weak demand in China. The robust earnings lifted rival share prices, buoying the European luxury sector on Thursday.

Business

Lamborghini delays the launch of its first electric model to 2029

The Italian carmaker believes the market is not ready for the brand's fully electric luxury car.