Luxury Daily

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Day’s wrap: Kering, LVMH, L’Oréal, Loewe and The Macallan

Luxury Daily’s live news: Kering says farewell to fur; LVMH, L’Oréal addressing environmental transparency in beauty industry; Loewe Foundation to celebrate artisans with 2022 Craft Prize; The Macallan enlists photographer to celebrate new Double Cask.

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Loewe Foundation to celebrate artisans with 2022 Craft Prize

Spanish apparel and accessories house Loewe has opened applications for the fifth edition of its Craft Prize, celebrating creativity and innovation in contemporary craftsmanship.

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News briefs
LVMH, Bentley, Tapestry, Vestiaire Collective and Sotheby’s

Luxury Daily’s live news: LVMH looks for younger, more diverse talent; Bentley celebrates 70 years of design at Crewe; Tapestry signs climate positive initiative; Vestiaire Collective worth $1.7B after new investments; Frida Kahlo self-portrait estimated at $30M.

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Retail
Radicals, pioneers and Brands of Tomorrow. Why the spirit of Josiah Wedgwood lives on in Britain’s creative entrepreneurs

In her latest letter, Walpole’s CEO discusses how the next generation of luxury brands can be inspired by “The Radical Potter” Josiah Wedgwood’s unique blend of genius and graft as the British luxury trade body continues its search for the Brands of Tomorrow Class of 2022.

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News briefs
Day’s wrap: LVMH, Bentley, Tapestry, Vestiaire Collective and Sotheby’s

Luxury Daily’s live news: LVMH looks for younger, more diverse talent; Bentley celebrates 70 years of design at Crewe; Tapestry signs climate positive initiative; Vestiaire Collective worth $1.7B after new investments; Frida Kahlo self-portrait estimated at $30M.

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Apparel and accessories
Tapestry signs climate positive initiative

New York-based luxury group Tapestry, Inc. is reinforcing its commitment to sustainability, having signed the Science Based Targets’ initiative (SBTi) business ambition for 1.5⁰C.

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Automotive
Bentley celebrates 70 years of design at Crewe

British automaker Bentley is celebrating its 70th anniversary of the founding of its design department at its Crewe facility.

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Arts and entertainment
Frida Kahlo self-portrait estimated at $30M

A self-portrait by renowned Mexican painter Frida Kahlo is expected to sell for $30 million through auction house Sotheby’s, potentially becoming the most valuable Latin American piece ever publicly sold.

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Retail
Vestiaire Collective worth $1.7B after new investments

Luxury resale platform Vestiaire Collective has completed a $210 million financing round backed by technology investment firm SoftBank and Generation Investment Management.

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Apparel and accessories
LVMH looks for younger, more diverse talent

French luxury conglomerate LVMH is accelerating its human resources and corporate social responsibility policy by aiming to recruit 25,000 individuals under the age of 30 by the end of 2022.

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Retail
Recommerce gains momentum as circularity become fashion pillar

As consumers grow increasingly concerned about their environmental footprints, fashion brands and retailers are experiencing immense pressure to adopt new operational models to mitigate waste.

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Software and technology
Why luxury is still exploring digital assets

As more industries begin experimenting with non-fungible tokens, more revenue streams for luxury brands are opening.

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Automotive
Bentley goes full throttle on consumer engagement, sustainability

British automaker Bentley Motors has not only navigated the obstacles brought on by the COVID-19 pandemic through technical innovation and reimagined consumer engagement, but has positioned itself as a leader in sustainable luxury.

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Subscribe now: Full access to 90,000+ articles, reports, videos and images

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News briefs
Delvaux, Moët Hennessy, Aston Martin, Yoox Net-A-Porter and Douglas Elliman

Luxury Daily’s live news: Delvaux appoints house alum Jean-Marc Loubier as new CEO; Moët Hennessy reopens ultimate French boutique; Aston Martin markets DB5 Junior for next generation of Bond fans; Yoox Net-A-Porter debuts new distribution center in Landriano; Douglas Elliman invests in, partners with Bilt Rewards.

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Marketing
With Kris Wu and other idols tainted, what is luxury’s next China strategy?

Instead of building brand equity and increasing brand awareness through KOL marketing, brands have started losing value and market share in China.

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News briefs
Day’s wrap: Delvaux, Moët Hennessy, Aston Martin, Yoox Net-A-Porter and Douglas Elliman

Luxury Daily’s live news: Delvaux appoints house alum Jean-Marc Loubier as new CEO; Moët Hennessy reopens ultimate French boutique; Aston Martin markets DB5 Junior for next generation of Bond fans; Yoox Net-A-Porter debuts new distribution center in Landriano; Douglas Elliman invests in, partners with Bilt Rewards.

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Automotive
Aston Martin markets DB5 Junior for next generation of Bond fans

British automaker Aston Martin is informing consumers that adults do not get all the fun with a new miniature offering.

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Retail
Yoox Net-A-Porter debuts new distribution center in Landriano

Online retailer Yoox Net-A-Porter is celebrating the inauguration of its new distribution center in Landriano, offering an exclusive tour to a delegation from the Italian government.

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QUOTE OF THE DAY
Typography company’s legal saga demonstrates difficulties of protecting creations without IP rights
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Outside of traditional IP rights there are few paths that the originators of creative expressions can take to prevent the theft of their intellectual property, leaving them practically defenseless when confronted with such misuse.

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Beyond Beeple: The real value of NFTs for luxury brands
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For better or worse, scarcity and exclusivity are founding values of the luxury goods industry — values that have made most luxury brands extremely slow to adapt to digital world in which things are easily replicated.

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How do you take a luxury experience and digitize it?
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While many industries were able to adapt and embrace the new digital frontier, for others, finding a substitution for in-person experiences was more difficult.

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Future of luxury retail: Less gadgets, more experiences
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Luxury brands are currently signing more short-term leases in newer or unfamiliar markets.

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