Join us Sept. 14-16 in Miami to connect with top publishing leaders
This year saw a series of acquisitions and mergers in fashion, luxury and beauty marked by a need to grab at new consumer dollars, win over younger generations and absorb the competition in order to consolidate newcomer markets. Here are the top takeaways of the industry’s year of major fashion deals.
Luxury invested in new areas
Major luxury groups are adapting to the changing customer landscape and looking to combat the slowed growth of luxury apparel — which Bain & Co. predicts will grow by a dismal 2 to 3 percent over the next five years — by reaching into new, buzzy markets. LVMH Group led the charge in this arena, announcing the acquisition of bicycle brand Pinarello in October as part of a push toward the wellness sector. The firm involved with the acquisition, L Catterton, which is partly owned by LVMH, did not disclose details of the acquisition.
To read the rest of this story, please visit Glossy.
More in Marketing
Future of Marketing Briefing: One more helping, for gluttons still hungry for Publicis and PepsiCo takes
Yes, more thoughts on what it means, or doesn’t, that Publicis walked away from competing for Coca-Cola’s media dollars to grab PepsiCo’s instead.
Instacart launches custom AI assistants for retailers
Retail giants like Walmart, Kroger and Amazon have launched AI assistants allowing consumers to ask for recommendations or curated shopping lists. Now, Instacart has made it easier for other retailers such as regional grocers to follow in their footsteps.
AI reshapes agency economics, but their contracts are still scrambling to catch up
AI is changing agency work. Agencies are adding provisions to existing contracts instead of rewriting their MSAs.