Luxury Oslo department store Steen & Strøm has reopened after a €29.5m upgrade. The historic store has a new entrance on Norway’s busiest shopping street, a state-of-the-art beauty hall and upgraded architecture.
The luxury goods sector could shrug off the hit from the coronavirus crisis as early as this year as Chinese and U.S. shoppers help sales recover to pre-pandemic levels, consultancy Bain said on Monday.
The luxury brand confirmed the continuity of its financial strategy at its general meeting on Tuesday and announced changes in the legal status of Émile Hermès SARL in order to welcome new members of the Hermès family.
Ultra-luxe label Hermès has unveiled a newly transformed flagship in Beijing's China World Trade Centre. It covers two floors and more than 900 sqm with an “eye-catching façade that beckons from afar”.
Covid-19 has boosted e-tail, especially for multibrand sites and leading luxury labels, according to a study by Bernstein for Altagamma. An evolution that means other labels need to rethink their commercial strategy.
Luxury puffer jacket maker Moncler said on Thursday sales increased by 21% at constant exchange rates in the first quarter of the year, pushed by a strong growth in Asia and solid signs of recovery in North America.