Richemont’s third quarter — the all-important three months to the end of December — saw sales rising only 1%, although currency-neutral, they were up a healthier 5%, despite the “continuously volatile environment”.
Burberry saw another round of retail sales falls in Q3, with Europe and the Americas still being hit hard. But it said China, Korea, leathergoods, outerwear and full-price sales all headed in the right direction.
In 2020, in the midst of a health crisis, beauty and wellness brand Rituals will have inaugurated a 1,500 square metre flagship store and around 40 other stores. This strategy has enabled it to maintain modest growth.
Alibaba Group’s cross-border business-to-consumer marketplace Tmall Global has increased its support for international brands, unveiling a new suite of solutions at the 2021 Tmall Global New Seller Virtual Summit.
Online retail giant Very Group could be the next big name in line for an IPO with a report that its owners, who also own the Telegraph newspaper, are exploring the potential of a £3 billion+ stock market float.