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
Marketing’s upper middle embraces AI creative production
Scaled AI creative production is becoming ordinary among CMOS outside the billion dollar club.
‘It scared the hell out of me’: What brands have learned from creator partnerships
At Shoptalk Fall, brands like Favorite Daughter, SharkNinja and Bob’s Discount Furniture talked about what they’ve learned from working with creators.
Future of Marketing Briefing: Agency fees in creator deals are the next transparency headache for marketers
As creator marketing budgets grow, so do questions about what agencies are taking.