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
Meta’s Threads expected to have ads this year
The move would make Threads Meta’s latest bit of ad real estate venue just over a year after its launch.
Mobile esports reaches new heights in 2024 with a boost from Saudi Arabian investment
Mobile esports activity has been picking up gradually since 2021, but 2024 could be one of the most lucrative years yet for the esports teams and players participating in popular mobile games such as “PUBG Mobile” and “Mobile Legends: Bang Bang” (MLBB).
Q1 ad rundown: there’s cautious optimism amid impending changes
The outlook for the rest of the year is a tale of two realities.