Deloitte news and archive

Gen Z driving the second-hand luxury watch market

Swiss watches are in high demand these days, but sales of second-hand timepieces are also booming, driven by Generation Z buyers who want luxury goods but are also sustainability-minded. The global second-hand watch market is estimated at nearly 20 billion Swiss francs (21.7 billion dollars) and could reach 35 billion francs by 2030, according...

BusinessFeatured

The world's top 10 luxury companies generate more than half of all global luxury sales

A new report assessing the global powers of luxury sees just 10 companies take more than half of all global luxury sales of the total top 100 companies it analysed. In a report by Deloitte, Global Powers of Luxury Goods 2020, the world’s top 100 luxury goods companies generated revenues of 281 billion dollars in 2019. The top 10 companies, which...

BusinessFeatured

Millennials whose financial position improved will spend more on trends, mainly apparel

New York – A recent study shows that out of all consumer whose financial position has improved in the last year, Millenials were the most likely generation to increase spending on consumer products. Within the apparel segment, consumers are favouring value brands, those with strong value proposition, such as fast fashion, quality/price,...

Business

Karen Millen Australia enters administration, 7 stores to close

The Australian arm of Karen Millen has fallen into administration, a month after its British parent company announced an administration filing. Deloitte partners Richard Hughes, Tim Norman and Michael Billingsley have been appointed Joint and Several Administrators. Deloitte Australia is now conducting a wind down of the company’s seven...

BusinessFeatured

LVMH tops Deloitte’s list of Top 100 luxury companies; future looks positive for the sector

LVMH came first on Deloitte’s annual list of the world’s largest luxury goods companies once more, followed by Estée Lauder and Richemont. Kering and Luxottica switched places, with the French conglomerate moving up to the fourth position while the Italian eyewear giant fell to the fifth. The report, titled Global Powers of Luxury Goods, covers...

Retail

Deloitte predicts 11 percent decreased online shoppers during back-to-school season

In the U.S. college students prefer to do their back-to-school shopping the old fashion way, that’s it in person. As a result, Deloitte predicts an 11 percent decrease in intended online shoppers for this season. According to Deloitte's 2018 Back To College Study, while last year about 80 percent of shoppers said they would use their...

BusinessFeatured

France and Italy dominate Deloitte’s list of top 100 largest luxury companies

Businesses from France and Italy dominate Deloitte’s annual list of Top 100 luxury goods companies once again. The latest report covers the luxury goods sector in fiscal year 2016 (ending on June 30, 2017). Italy leads in number of companies making the list (24), but the nine French corporations that have made the top 100 represent almost 25...

Fashion Featured

LVMH tops Deloitte's Luxury Goods ranking

There’s no change in the top four companies in the latest Global Powers of Luxury Goods report conducted by audit and consulting firm Deloitte, which analyses the top 100 luxury companies in the world. Once again, the report ranked French conglomerate LVMH Moët Hennessy-Louis Vuitton, which includes luxury brands Louis Vuitton, Fendi, Marc...