A struggling brand in 2015, in the past two years Gucci has seen exponential growth in the region of 40%. This extraordinary performance owes much to creative director Alessandro Michele, the man behind today's baroque, ethical and connected Gucci. Millennials love it.
Articles on the subject: Economy
Richemont has found a partner of choice in Alibaba to develop its Net-A-Porter and Mr Porter online platforms in China. With the biggest IPO in history and 600 million users to its name, Alibaba is behind more than 50% of e-commerce in its domestic market.
Luxury watches hold strong appeal in China, prompting brands to find new ways of tapping into this market. After experimenting with solutions such as WeChat and e-commerce platforms, more and more brands are using influencers to reach new customers.
Increasingly, watch brands are taking environmental concerns into consideration, from renewable energy to soft mobility solutions. This is a natural progression in an industry focused on the long term.
China is one of the major growth engines for the luxury industry in general, and for Swiss watches in particular. The country is also the third-biggest exporter of watches in value terms. Should the Alpine nation be concerned?
The recent resignation of Jean-Claude Biver from the helm of LVMH's Watch division has prompted the appointment of Frédéric Arnault as strategy and digital director at TAG Heuer. He is the fourth of Bernard Arnault's children to take up a senior position within the group.
In a recent study, the Boston Consulting Group and the Centre du luxe et de la création set out the directions luxury must take if it is to go on meeting customers' expectations. They include ethical and environmental responsibility, personalisation, unique purchasing experiences and prices that reflect the perceived value of the product.
Chopard has kept its promise. Since July, the brand uses only gold from ethical sources. But at just 5% of global watch and jewellery production, sustainable gold is still as rare as the initiatives aimed at making responsibly-sourced gold the norm in the luxury industry.