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News on Medial
LVMH doesn’t have the luxury of pulling back from China
Livemint
·
1y ago
Medial
Bernard Arnault, the CEO of luxury conglomerate LVMH, remains committed to investing in China despite the country's economic slowdown and geopolitical tensions. China has been a key market for LVMH, accounting for around 20% of its global sales. While other firms have been reducing their exposure to China, Arnault believes in the potential of the Chinese market and its growing middle class. LVMH has made significant investments in China, including renovating stores and planning a shopping and entertainment complex on Hainan Island. Despite the challenges, Arnault sees China as a key market for the luxury industry's future growth.
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Luxury brands’ new snag? Handbag arbitrage
Livemint
·
10m ago
Medial
China's daigou trade is flourishing, posing a challenge to luxury brands. Daigous buy luxury goods abroad at lower prices and resell them in China, undercutting the local market. The daigou market has experienced strong growth, with sales rising 23% in the first half of 2023 compared to the same period last year - while luxury brand sales in China slumped 5%. Luxury brands may have inadvertently driven shoppers towards daigous by increasing prices significantly in recent years. This parallel market is dominated by corporate traders who buy in bulk from throughout the luxury-goods supply chain.
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Luxury’s last growth engine has stalled
Livemint
·
9m ago
Medial
Shares in LVMH, the owner of Louis Vuitton, fell 7% as its third-quarter results showed worse-than-expected performance. The company's fashion and leather division, including brands like Christian Dior and Louis Vuitton, saw a 5% drop in sales. The main reason for the slowdown is the decrease in Chinese shoppers' spending on luxury goods due to the country's real-estate crisis, which has impacted their net worth. Additionally, the trade war between China and the EU may result in Beijing imposing tariffs on European cognac, affecting LVMH's Hennessey brand. The slowdown poses challenges for the luxury industry, with brands needing to adapt and offer more realistic price points to attract consumers.
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Why a shabby luxury brand is hard to fix
Livemint
·
1y ago
Medial
Luxury fashion brands Gucci, Balenciaga, Burberry, and Salvatore Ferragamo are struggling to regain market share and increase sales. These brands have faced various challenges such as over-the-top designs, controversial ad campaigns, weak sales, and dependence on discount outlets. Despite efforts to revamp their image and attract customers with high-priced handbags, these brands are still facing declining sales and pressure on profit margins. The dominance of larger luxury groups like LVMH, increased marketing budgets, and a shrinking market for affordable luxury goods further contribute to the difficulties faced by these brands. Investors should be cautious and monitor the effectiveness of turnaround plans before making any investment decisions.
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Nike’s slow recovery is testing investors’ patience
Livemint
·
1y ago
Medial
Nike's recent performance has been disappointing, with shares dropping 12% following its earnings announcement. Sales have been flat, and the company's slowest growth in 14 years is concerning. Nike's strategy of pulling back popular products to regain pricing power has had a negative impact on digital sales. Additionally, there are concerns about the company's innovation pipeline and competition from Adidas and smaller brands. To turn things around, Nike plans to invest more in advertising and sponsorships. With healthy margins and ample resources, Nike has the potential to bounce back.
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Trump’s tariff threat, China’s retaliation leave Apple stuck between a rock and a hard place - The Economic Times
Economic Times
·
1m ago
Medial
Apple is facing challenges from both the U.S. and China, with tariffs potentially impacting its manufacturing plans. China is retaliating by pulling Chinese workers from Apple's Indian facilities and tightening tech restrictions. India is trying to reduce its dependence on China by ramping up domestic electronics production, aiming for 38% value addition in five years. Meanwhile, Vietnam capitalizes on trade deals with the U.S., potentially threatening India's aspirations as a key Apple manufacturing hub.
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TikTok Shop expands its secondhand luxury fashion offering to the UK
TechCrunch
·
1y ago
Medial
TikTok Shop is expanding its secondhand luxury category to the UK, allowing users to purchase pre-owned high-end clothing and accessories through the app. The move puts TikTok Shop in competition with other resale platforms like The RealReal and Depop. At launch, the UK category will feature five brands, including Sellier and Luxe Collective. While TikTok Shop has been successful, there are concerns about counterfeit and poor-quality products flooding the marketplace. The company has implemented measures to combat counterfeit goods, including partnering with authentication services and discussing potential collaboration with luxury company LVMH. The launch aligns with the growing trend of embracing preloved fashion.
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Why some VCs are pulling back from Europe, Google's AI push, and who is the CEO of Byju's?
TechCrunch
·
1y ago
Medial
This article provides an overview of the topics covered in the Equity podcast episode. It mentions discussions on why some venture capitalists are pulling back from Europe, Google's push in artificial intelligence, and the CEO of Byju's. The article also mentions a previous episode that focused on the Reddit IPO. The Equity podcast releases new episodes every Monday, Wednesday, and Friday.
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From watches to bejewelled lighters, India catches the fancy of luxe labels
Livemint
·
10m ago
Medial
The growing number of wealthy consumers in India and the economic slowdown in China have attracted luxury brands to the South Asian nation. With India's GDP projected to surpass $7 trillion by 2030, luxury brands are eager to tap into the fast-growing market. Swiss luxury watchmaker Gerald Charles has entered India through a partnership with Ethos Ltd, offering exclusive timepieces. Other brands, including U-Boat, S.T. Dupont, and Franck Muller, are also expanding their presence in India. As India's middle class continues to grow, consumer spending and demand for luxury goods are expected to increase.
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Mumbai property registrations down 16% YoY in September amid 'shradh' and higher home prices
Money Control
·
10m ago
Medial
- Mumbai property registrations in September 2024 decreased by 16% compared to September 2023. - The decline in registrations can be attributed to the inauspicious "shradh" month during which many refrain from making property purchases. - Investors pulling back from the overheated real estate market could have also contributed to the slowdown in registrations. - In September 2024, a total of 9,005 properties were registered in Mumbai, compared to 10,694 registrations in September 2023. - The residential segment accounted for 80% of the total registrations in September 2024. - The contribution to the exchequer through stamp duty reduced to around Rs 872 crore in September 2024, compared to Rs 1,127 crore in the same month last year.
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First woman with $100-billion net worth
Livemint
·
1y ago
Medial
Francoise Bettencourt Meyers, the heiress of L'Oréal SA, has become the first woman to achieve a net worth of $100 billion. Her wealth surged as shares of L'Oréal reached an all-time high. With this accomplishment, Bettencourt Meyers ranks as the 12th richest person globally. Despite her success, she falls behind French compatriot Bernard Arnault, founder of LVMH, who holds a net worth of $179 billion. France's luxury retail sector has spawned other ultra-wealthy families, such as the Hermès and Chanel clans. Bettencourt Meyers, known for her privacy, serves as vice-chair of the L'Oréal board.
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