Friday Press Review I April 24th, 2020

How is the luxury market affected by COVID-19. Find out our selection of the latest articles on the subject :

An Hermès boutique in China made $2.7 million in one day after it reopened

Is Hermès’ blockbuster reopening in China a barometer of things to come in post-pandemic luxury shopping? The French heritage brand’s Guangzhou flagship store reportedly achieved $2.7 million in sales when it reopened this weekend, according to WWD. This figure is believed to be the highest daily haul for a single boutique in China, and offers hope to luxury brands and retailers of what economic recovery may look like in the coming months. Read more...

Rolex, Patek Philippe, and more luxury brands leave Baselworld for new trade show with Watches & Wonders in Geneva

This might not be the end of Baselworld, but it is the end of Baselworld as we know it. Rolex, which has been among the least vocal brands since the beginning of the COVID-19 pandemic and the 2020 cancellation of Baselworld, has just announced two important things. First, Rolex is supporting the Red Cross and some other notable humanitarian charities around the world during our current serious global public health crisis. Second, it is breaking up with Baselworld — and it is taking its friends with it. Read more...

Five new trends that will reshape luxury after Covid-19

While measures to prevent the spread of COVID-19 continue to buckle the global economy, businesses must scan for those trends most likely to shore them through the crisis and also leave them stronger in the post-covid market. IMD Business School organized its first webinar on what the COVID-19 crisis might mean for the luxury industries in early April, inviting four luxury professional from diverse sectors. The discussion revealed why this crisis would accelerate changes that had already been unfolding within the industry before it struck. Read more...

A Switzerland hotel has a luxury coronavirus-themed package that could cost up to $77,500 for a 14-day stay

In the days of self-isolation and social distancing, a Swiss hotel's slogan "hotel service without the other people" has taken on a whole new meaning. Because the hotel chain Le Bijou was already set up so guests could avoid human contact, its co-founder and chief executive Alexander Hübner told Insider that it didn't take much to launch "COVID-19 Service." The service can only be described as a luxury COVID-19-themed package with options for doctor visits and food delivery. Le Bijou has 42 units — which Hübner describes as "luxury Airbnbs" — at properties in cities across Switzerland.

Read more...

How luxury consumer preferences in China are shifting after Covid-19

Real-time consumer insights are critical to maneuverability in any crisis, but they’re even more important when attitudes shift to “a new normal.” Over the last few days, I spoke with several luxury retailers based in Hong Kong and mainland China, and their feedback was consistent: While the situation after COVID-19 is gradually getting better, and shops are once again open, buying behaviors have changed.

 Read more...

In-store luxury experiences will continue to dominate in the post-coved world

How has the Coronavirus affected the global luxury industry? How can luxury companies emerge stronger, more innovative and purposeful after the battle against the Coronavirus has been won? To answer these important questions and more, SP Jain School of Global Management hosted, for the very first time, a ‘Power Panel Webinar’ bringing together luxury leaders and stalwarts from across the globe to share their insights, perspectives and relevant facts. Read more...

Revolution in the news : helping to get global sports and events live after Covid-19

Working alongside AMCO, a company that specializes in artificial intelligence (AI) camera technology, rEvolution is part of a collective of agencies helping to deliver COVID-19 thermal screening at sports and events globally. Read more...

Everybody is in a similar situation : Sports publishers try teaming up on ad deals

With no live sports on television and athletes sheltering in their homes, sports publishers are hoping that teamwork will help them keep their advertisers’ attention. Read more...

Don't miss next article on our blog by The Consultancy Group.
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