Week 19 in Luxury: Porsche and Apple vision pro, Mulberry’s sales go down, and news in Oakridge park.
Welcome to Week 19 edition of "This Week in Luxury," where we’ll bring you the latest developments in the world of luxury.
In this week's roundup, we explore four intriguing stories that are shaping the luxury industry landscape.
1. Porsche uses Apple Vision Pro to improve production trainings
Porsche is experimenting with new workplace technologies, such as Apple Vision Pro headset-compatible virtual production training modules developed by MHP, which could significantly enhance employee training and efficiency across its plants, particularly in Zuffenhausen, Germany. These virtual trainings offer detailed, step-by-step instructions in a digital environment, reducing errors and potentially boosting employee satisfaction, according to Markus Wambach, COO of MHP.
Read the full article here | Luxury Daily
2. Mulberry’s Full-Year Sales Fall 4%
Luxury British brand Mulberry, recognized for its high-priced leather handbags, has reported a 4 percent decrease in annual sales, attributing it to a broader slowdown in luxury spending, notably in the UK and Asia, despite positive trading in the US. CEO Thierry Andretta acknowledges the ongoing challenges in the UK and China, emphasizing a prudent approach to business management while striving to execute their strategy of becoming a global sustainable luxury brand.
Read the full article here | Business Of Fashion
3. Vancouver’s first standalone Bulgari, Chaumet, Tag Heuer stores coming to Oakridge Park
High-end retailers such as Tiffany & Co., Tag Heuer, Bulgari, and others are set to join Vancouver's Oakridge Park, the largest redevelopment project in Canada, with luxury brands constituting approximately 20% of the 650,000-square-foot opening. Chrystal Burns, EVP of Canadian retail at QuadReal Property Group, emphasizes Oakridge Park's role in solidifying Vancouver's position as a top global retail destination and its innovative design that integrates retail, residential, and sustainability elements.
Read the full article here | Luxury Daily
4. Frasers buys back Matches IP: Why it matters
Frasers Group has acquired the intellectual property assets of Matches, including its name, trademark, and database, and has licensed these assets to the administrator, Teneo Financial Advisory, to enable Matches to keep operating. The undisclosed amount paid for the IP underscores Frasers Group's efforts to maximize returns from the administration process, particularly as Matches owes Frasers Group £209.4 million, making them its largest creditor. This move allows Matches to continue trading, aiming to sell off as much of its inventory as possible.
Read the full article here | Vogue Business
That concludes this week's edition of "This Week in Luxury." Stay tuned for more updates on the world of luxury in the weeks to come.
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