Yoox Net-a-Porter shareholder Renzo Rosso believes Richemont's bid for full control of the online retailer is of great value, even though he is sorry to see another renowned Italian brand pass under foreign control.
E-tail may be surging, but luxury growth potential could be limited. A new study shows most UK consumers are unwilling to make expensive purchases online and prefer to head in-store to buy high-value products.
Selfridges had already told us that its Boxing Day clearance sale business was buoyant and at the weekend it said the Christmas season as a whole was better than ever with rising footfall and strong full-price sales.
Swiss luxury watchmaker Audemars Piguet said it would launch a second-hand business this year, becoming the first big brand to announce plans to tap into a fast-growing market for pre-owned premium watches.