Latest news with #luxuryBrands
CNA
03-06-2025
- Business
- CNA
Cartier reports some customer data stolen in cyberattack
ZURICH :Cartier, the luxury jewellery company owned by Richemont had its website hacked and some client data stolen, it told customers according to an email seen by Reuters. The company, whose watches, necklaces and bracelets have been worn by Taylor Swift, Angelina Jolie and Michelle Obama, said "an unauthorised party gained temporary access to our system." "Limited client information", such as names, e-mail addresses and countries, had been obtained, said Cartier in the email sent to customers on Tuesday. "The affected information did not include any passwords, credit card details or other banking information," Cartier said, adding it had since contained the issue. The company said it had further enhanced the protection of its systems and data, as well as informed the relevant authorities, and was also working with "leading external cybersecurity experts." Cartier did not immediately respond to a request for comment. The attack is the latest case of a company being targeted by cyber criminals. British retailer Marks & Spencer said last month a "highly sophisticated and targeted" cyberattack in April will cost it about 300 million pounds ($405 million) in lost profits. French luxury house Dior, owned by LVMH also reported last month that hackers had stolen data from its customers, but insisted no financial data was involved, according to Le Monde newspaper. Fashion brand The North Face, owned by VF Corporation has also emailed some customers, saying it discovered a "small-scale" attack in April this year. The company told customers the hackers used "credential stuffing", trying usernames and passwords stolen from another data breach in the hope customers have reused the credentials across multiple accounts, the BBC said on Tuesday. London department store Harrods also said last month that hackers had attempted to break into its systems, following incidents at Marks & Spencer, and the Co-op Group. ($1 = 0.7406 pounds)
Asharq Al-Awsat
22-05-2025
- Business
- Asharq Al-Awsat
Ralph Lauren Beats Quarterly Revenue Estimates on Resilient Demand
Ralph Lauren surpassed quarterly revenue estimates on Thursday, helped by resilient demand for its classic Polo shirts and spring dresses, sending its shares up 3% in premarket trading. Its efforts to invest in brands including Polo and Purple Label, paired with stylish seasonal drops, have been helping the company win over younger and less price-sensitive shoppers. However, it forecast annual revenue below estimates owing to pressures from uncertainty around US tariffs, Reuters reported. Ralph Lauren is among the retailers and luxury brands facing the brunt of unpredictable US tariff shifts that have disrupted businesses and rattled shoppers worldwide. The company expects fiscal 2026 revenue to increase in the low-single digits from last year, while analysts estimated a rise of 4.39%, per data compiled by LSEG. It posted quarterly revenue of $1.70 billion, compared with estimates of $1.65 billion.
Reuters
22-05-2025
- Business
- Reuters
Ralph Lauren beats quarterly revenue estimates on resilient demand
May 22 (Reuters) - Ralph Lauren (RL.N), opens new tab surpassed quarterly revenue estimates on Thursday, helped by resilient demand for its classic Polo shirts and spring dresses, sending its shares up 3% in premarket trading. Its efforts to invest in brands including Polo and Purple Label, paired with stylish seasonal drops, have been helping the company win over younger and less price-sensitive shoppers. However, it forecast annual revenue below estimates owing to pressures from uncertainty around U.S. tariffs. Ralph Lauren is among the retailers and luxury brands facing the brunt of unpredictable U.S. tariff shifts that have disrupted businesses and rattled shoppers worldwide. The company expects fiscal 2026 revenue to increase in the low-single digits from last year, while analysts estimated a rise of 4.39%, per data compiled by LSEG. It posted quarterly revenue of $1.70 billion, compared with estimates of $1.65 billion.
Forbes
07-05-2025
- Business
- Forbes
Why Luxury Customers Are Heading To Madison Avenue For Jewelry
Madison Avenue on a sunny day, Manhattan, New York City, USA getty Synonymous for decades with advertising (remember Don Draper falling from a Madison high-rise in the Mad Men credits?), New York's Madison Avenue long left luxury to neighboring Fifth Avenue, which runs parallel through Manhattan. Luxury fashion flagships eventually began appearing in the 1980s, keen to capitalize on a well-heeled New York clientele. But with the Covid pandemic, came store closures and now jewelry brands are vying to Madison's fill vacant lots in an Uptown renaissance that is seeing heritage and independent jewelry brands alike flocking to the Upper East Side. One of the most recent to do so, is Marina B, which opened a flagship last month at 673, in the Maison Avenue Historic District. After years of selling successfully through retailers like Net-a-Porter and MyTheresa, the brand was keen to have a 'jewel box', a bricks-and-mortar retail space, which speaks to a broader trend for physical brand touchpoints also noted in cities like London. 'Like the Rue St Honore in Paris and Via Monte Napoleone in Milan, Madison Avenue has always been a destination for a sophisticated clientele. Both heritage houses and innovative boutiques are equally at home on this storied avenue: IYKYK,' says Marina B Creative Director and majority owner, Guy Bedarida, who described the opening as a 'homecoming of sorts. One of the first boutiques [the brand founder] Mrs Bulgari opened was at Madison and 68th Street.' A gold and diamond Trisola ring by Marina B, a luxury jewelry brand that has just opened on Madison ... More Avenue. Marina B He believes that the Madison boom can partly be put down to a migration uptown from Hudson yards and Nolita, 'which are more challenging destinations. The renaissance of the Upper East Side and Madison Avenue is holistic, and also extends to high-profile restaurant openings and exciting residential developments, plus the renovation of the Frick Collection and Sotheby's move to the Breuer Building. Many cultural forces in the city are consolidating in this exciting and elegant neighborhood.' The area now attracts shoppers who are 'international and local, sophisticated and adventurous; 'independent' decision-makers with a strong bias towards quality, craftsmanship and longevity,' according to Bedarida, a target which has been like catnip to jewelry and diamond brands over the past two years in particular. Jewelry from the Untamed Nature collection by Boucheron, a French heritage jewelry brand that ... More recently opened a store on Madison Avenue. Boucheron 'Madison Avenue isn't just any location –- it's a perfect match for our Maison,' says the Boucheron CEO Hélène Poulit-Duquesne. The Parisian heritage brand favors intimacy and exclusivity for its international clientele and spent a long time searching for the right location in which to bring a corner of Place Vendôme to New York City, before finally opening in September 2024. 'In the post-Covid era, Madison Avenue has regained strength as a destination for exclusive and quieter experiences, in contrast to the hectic golden mile on Fifth Avenue with its mass traffic." She believes that the location "allows Boucheron's creativity and heritage to truly shine, enabling us to fully express our family spirit in what feels like a Parisian home with New York's distinctive Art Deco character.' Despite having a flagship nearby on Fifth, fellow Paris heritage brand Van Cleef & Arpels also has a plush townhouse boutique on Madison and 62nd, and Fred Leighton, Buccellati and Pomellato have long had stores there. De Beers moved its New York flagship to Madison from Fifth in 2005, with CEO François Delage later telling WWD that 'Fifth Avenue became less and less a reflection of the brand… Madison is more in line with what we want to offer our customer and what our customer wants.' Less footfall perhaps, but from clients who are more likely to buy. Creative director and founder Beth Hutchens in FoundRae's Madison Avenue store, which opened in ... More 2024. FoundRae Independent luxury jewelry brand on Madison Avenue Amongst the bold heritage flagships, are also carefully crafted destinations for independent brands. Marlo Laz, Seaman Schepps and the sculptural Brazilian jewelry brand Sauer all now have Madison addresses. James Taffin de Givenchy also has his headquarters here, with a showroom decorated in his inimitable style, and a separate space for craftspeople. After a store near her home in Tribeca in 2018, FoundRae opened a second New York address on Madison in September 2024, with an interior inspired by Diana Vreeland's Park Avenue apartment a few blocks away. 'Before I ever set foot in the space, I had a feeling it would be FoundRae's newest home, because of its auspicious address: 777,' says the brand's founder and creative director, Beth Hutchens. 'Seven is my favorite number and has often appeared in my life as a sign that I'm on the right path.' The store is infused with all the symbolism of the brand itself, along with art and objects from Hutchens' personal collection displayed amongst her cult jewelry and collectibles. Uptown girl: a model wears jewelry by Marina B Max Catena At the other end of the design spectrum, Danish jeweler Sophie Bille Brahe's new space is the very essence of pared-back Scandinavian minimalism. White, bright and airy, the second-floor showroom was curated by the designer herself and includes meaningful items from her personal collection in her first store outside of her native Copenhagen. Speaking to Vogue Scandinavia after the opening in November 2024, she described it as a 'Scandinavian palazzo, where every detail is purposeful and thoughtfully considered,' in the image of her pearl and diamond brand. With Jessica McKormack — who saw big buzz at the start of the year after creating an engagement ring for Zendaya — and French diamond jeweler Messika opening on Madison soon, it looks like the dynamic is set to continue. As Francesca Simons, one of New York's most in-demand jewelry brand consultants puts it, 'Madison Avenue is having a moment — there's a renewed energy with a mix of heritage and modernity that feels exciting again. With brands like Marina B. leading the charge, it's quickly reestablishing itself as a go-to destination for fine jewelry.'
