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This week, Ralph Lauren goes big on holiday windows as luxury retailers pull back, nearly 30% of shoppers will purchase beauty as a holiday gift, and more.
RETAIL NEWS
Ganni, the Fast-growing Danish Fashion Brand, Arrives on Madison Avenue
On the heels of its Paris Fashion Week debut, Ganni will open a flagship Friday at 1055 Madison Avenue, its fifth store in New York City and its 25th in the U.S. The Danish fashion house already has stores in New York’s SoHo neighborhood, the Flatiron District, Bleecker Street, and Williamsburg, Brooklyn.
Bottega Veneta Welcomes VICs to New Manhattan Home
The luxury brand on Saturday unveiled a new Residence on Madison Avenue, with a book reading and brunch to celebrate the brand’s new Richard Scarry capsule collection.
Gap Inc CEO Richard Dickson on staging an American comeback
Dickson was brought in last year to make over the iconic retail group and pull its brands out of the red. So far, risks have paid off.
Macy’s Discovers Employee Hid Millions in Delivery Expenses
The department store chain said it had discovered the erroneous accounting entries while preparing its results for the third quarter.
How Luxury Brands Can Navigate — Gingerly — Around Overblown Prices
European luxury brands may have painted themselves into a corner by dramatically raising prices in recent years, spooking aspirational customers — and testing the resolve of devoted clients.
Ralph Lauren goes big on holiday windows as luxury retailers pull back
Ralph Lauren's holiday windows offer shoppers an interactive experience as other luxury retailers pull back on displays.
‘Our goal is to get famous in the US’: How Aritzia CEO Jennifer Wong plans to conquer the States
The Canadian retailer has established itself as a cult favourite, but has a way to go to own US-wide awareness and sales.
Vuori doesn’t need money. Investors keep knocking anyway.
A recent $825 million fundraise from General Atlantic and Stripes tipped the brand into the $5 billion valuation range. Investor Jon Kossow says the company still doesn’t need the cash to fund its own operations.
Luxury’s Pricing Reality Check
Value for money matters, even at high-end brands. This week, Mulberry joined Burberry and Capri in admitting rampant price inflation has contributed to a collapse in demand. Will others follow suit?
Galeries Lafayette Sales Up 15 Percent in October on Revamp, Post-Olympics Glow
Sales were up at the Paris department store following a revamp of the floors with larger sections and more new brands, particularly in the contemporary category.
Michael Kors Names New CEO in Capri Leadership Shakeup
Cedric Willmote, who had served as Michael Kors’ chief executive since January 2023, will step down from the role and be replaced by Capri Holdings CEO and chairman John Idol.
Customers Are Quitting Luxury Brands as Price Hikes Go Too Far
By charging more, the industry is inadvertently encouraging its shoppers to buy from cheaper rivals and the resale market.
BEAUTY NEWS
6 Underrated Beauty Hubs Winning It Big Right Now
The global beauty industry has grown to a point where consumer demands for innovative, inclusive, and sustainable products are pushing the industry beyond its traditional and mainstream borders. While cities like Paris, Korea, Tokyo, and New York have long been recognized as beauty capitals due to their market-infiltrating prowess and GDP, the future of beauty also lies in regions that are often overlooked. Beauty brands are now being prompted to explore new horizons for product development and sourcing, due to demands for unique ingredients, indigenous beauty rituals, and environmentally conscious production.
Nearly 30% of shoppers will purchase beauty as a holiday gift
- Up slightly from last year, 29% of U.S. holiday shoppers plan to purchase beauty products as gifts this year, according to a new Circana report.
- Headed into the holiday season, U.S. prestige beauty sales between January and September rose 7% year over year to $22.8 billion, while mass-market beauty sales have grown by 2% compared to 2023.
- Increases in prestige beauty spend from higher-income households with children under 18 “indicate parents are indulging Gen Alpha with these products.”
Clean Skin Club Closes $32 Million Investment Round
Clean Skin Club, which houses a range of innovative skincare and hygiene products, has closed a $32 million investment round led by premier investor Astō Consumer Partners, with significant participation from Amberstone. Funds will be allocated toward expansion into brick-and-mortar retail channels on the heels of its Target success, new product development and investment in best-in-class talent, officials said.
How Beauty Brands Can Beat a Holiday Season Slowdown
With slow sales growth and a truncated shopping window, brands and retailers need to get creative to entice customers. The sector benefits from a close association with gifting and the stronger emotional ties that can bond shoppers to premium brands. It’s not that consumers won’t be spending or seeking out extra-special gifts (for loved ones or for themselves), but that they’ll be more motivated by convenience and value. To counteract the headwinds, brands should think about agile, low-lift ways to communicate that they can deliver on these fronts, from offering flexible payment plans and delivery to amplifying user-generated content as advertising.
Unilever Invests 100 Million Euros to Develop AI-powered R&D Business for Fragrance
Unilever is scaling up its in-house fragrance design and creation capabilities, part of an AI-powered strategy to accelerate growth and increase productivity.
La Roche-Posay Set Sights High Before Turning 50
The world’s largest dermo-cosmetics brand aims to become a top contender across all skin care channels.
Ariana Grande’s R.e.m. Beauty, Sephora Among Top 10 Beauty Brands on Social Media in October
How "Wicked," the New York City Marathon and early advent calendar seedings fueled beauty's buzziest brands in October, according to data from Traackr.
Off-price beauty is set to thrive amid tariffs and economic chaos
The off-price beauty and wellness categories continue to be a successful part of TJX’s merchandising strategy, with mass, prestige and luxury brands quietly selling into the channel at 30-70% off MSRP.
COMINGS & GOINGS
