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...However the cost of running the sites soared just as the brands began cutting back on wholesale and took back control of their online sales....
...Moreover, luxury brands are by and large keen to sell to their customers directly, jealously guarding those relationships and limiting the proportion of goods that flow through wholesale channels....
...Kering is also in the process of scaling back its wholesale operations, which should give it more control over stock and pricing in the longer term but was a drag on sales notably at Yves Saint Laurent and...
...Kering, for example, reported a 29 per cent year-on-year drop in wholesale revenue for its luxury brands in the third quarter of this year, as part of its efforts to “tighten its control over distribution...
...“Farfetch’s model favours wholesale distribution, and that is certainly not our favoured strategy,” says one luxury executive. “For early brands who need exposure, I can see how it makes sense....
...As we’ve written several times already, the luxury-tier downturn coincides with secondary market premiums disappearing....
...Per MainFT: Shares in luxury watch retailer Watches of Switzerland plunged by 25 per cent on Thursday after the company became the latest luxury group to warn on profits....
...Avellano moved from wholesale to custom orders and direct-to-consumer, a decision that helped him to better manage stock and costs while growing a base of loyal clients....
...As luxury prices soar, for many shoppers the contemporary (or affordable luxury) space feels extra relevant....
...For BCG’s Seara, often wholesale remains the best option. “It’s difficult to grow and online traffic is very expensive,” he says....
...While the diamond sector fends off a flood of lab-grown equivalents and struggles with weak global luxury demand, the prices of other precious stones have held up on global markets....
...Sales at Kering fell sharply in the third quarter as a global slowdown in luxury spending hindered the Paris-based group’s efforts to reboot its Gucci brand....
...Eve Leung has the run of the luxury retailers that proliferate in Hong Kong’s glitzy malls....
...Sales at French luxury group Kering lagged behind competitors LVMH and Hermes in the first three months of the year, dragged down by a sales decline in wholesale and in North America....
...Britain’s boarding schools are better places today than they were, but the tradition need not be exported wholesale....
...Sales at French luxury group Kering lagged behind competitors LVMH and Hermès in the first quarter, dragged down by the performance of its wholesale division and North America....
...“It keeps luxury watches rare because if we had access to an unlimited workforce, maybe our product would start losing exclusivity.”...
...In 2015, when Belgian buyout fund Ergon Capital Partners III acquired a majority stake in the brand, Golden Goose had more than 600 wholesale accounts and seven flagship stores....
...Erica Wright, founder of luxury fashion sourcing app Sourcewhere, says Mary Janes are currently one of the platform’s most-wanted shoes....
...While many labels now prioritise direct-to-consumer ecommerce, wholesale remains Rokh’s primary retail channel....
...Last year, wholesale sales, which account for 95 per cent of the business, reached £2mn....
...Luca Solca, a luxury industry analyst at Bernstein, says Miu Miu is particularly popular in China....
...The inequality that feeds the luxury boom is probably a drag on overall growth....
...The US luxury market is still recovering, with the latest sales at conglomerates including LVMH, Kering and Tapestry yet to improve or growing at a clipped pace....
...It operates boutiques in New York and Los Angeles and has several wholesale partnerships, including with Watches of Switzerland’s US retail network....
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