Luxury department store Harrods has finally appointed its first chief financial officer in five years. Tim Parker will join the business after 10 years at Hong Kong-based, London-listed conglomerate Jardine Matheson.
BNPL may be booming but a troubled global economy is still presenting challenges to operators in the segment and news has emerged that one of the biggest operators, Klarna, is cutting 10% of its workforce.
Shaftesbury, the West End property giant that's in talks about a merger with Capco, has reported what might be its last set of results before a merger is unveiled with footfall up and its portfolio value growing.
Major global brands will “continue betting on physical retail to drive sales in resilient destination cities”, a Savills report says. And it named New York, Paris and London as “the most attractive cities for retailers”.
Last Friday, Canada announced a ban on trade in luxury goods with Russia, and added 14 other individuals, including known oligarchs, to the list of sanctions imposed in connection with the Russian invasion of Ukraine.
Luxury businesses have renewed calls for the UK government to reverse its decision to end VAT-free shopping for tourists, saying Britain is losing out to other European countries as big-spenders go elsewhere.
Grosvenor has delivered a significant improvement in its financial performance in the latest year. The group owns vast tracts of land in key area like London’s Mayfair, as well as the Liverpool One mall.
The German group is the fifth founding member, and the only car manufacturer, to join the global blockchain platform dedicated to the luxury industry, formed by heavyweights LVMH, Prada, Cartier and the OTB Group.
Kim Jones, artistic director of the Dior house, chose Los Angeles and the Venice district to present his 2023 capsule collection, produced in collaboration with Californian designer Eli Russell Linnetz.