Luxury, Retail, FMCG and Media News & Trends: Jan Week 3
Luxury, Retail, FMCG and Media News & Trends: Jan Week 3
1. Business Moves
i. Prada Reportedly Interested in Versace
Prada is reportedly among the potential buyers for Versace, which Capri Holdings has put up for sale following the collapse of a prior deal with Tapestry. Capri has hired Barclays to explore strategic options, including the sale of its Versace and Jimmy Choo brands or even the entire group. Prada, currently outperforming the luxury sector with an 18% sales increase in Q3 2024, is reviewing the opportunity alongside Citi.
ii. Richmond Enters Real Estate with Mira Group
John Richmond is entering the luxury real estate market by developing branded residences, five-star hotels, and exclusive cafés with Mira Group and Italian fashion house Arav Fashion. Initial projects will launch in the UAE (Dubai, Abu Dhabi, Ras Al Khaimah), blending fashion and interior design in collaboration with FormItalia Luxury Group.
Takeaway: This strategic move underscores the growing synergy between high-end fashion and lifestyle sectors, presenting opportunities to redefine luxury living.
iii. Walmart Partners with Luxury Reller Rebag in E-Commerce Push
Walmart is expanding its e-commerce marketplace by partnering with luxury reseller Rebag to offer pre-owned Chanel, Prada, and Fendi items. The move aims to attract affluent shoppers and diversify its offerings.
Takeaway: It aligns with Walmart’s strategy to compete with Amazon by broadening price points and entering high-value categories. E-commerce sales have seen strong growth, signalling the marketplace as a key driver of future expansion.
2. People Moves
Estée Lauder: Ronald S. Lauder has retired from Estée Lauder’s board of directors after decades of service. His daughter, Jane Lauder, remains on the board, while his son-in-law, Eric Zinterhofer, was appointed as his successor. Zinterhofer, a founding partner at Searchlight Capital Partners, has extensive experience in governance and strategic insights.
Givenchy: Benjamin Cercio, previously the global communication director at Gucci, has launched his own agency, Bencercio, which will now handle global communication for Givenchy. This includes overseeing brand image, public relations, events, digital strategy, visual merchandising, and heritage. Cercio will collaborate closely with Givenchy CEO Alessandro Valenti and Creative Director Sarah Burton, who is set to unveil her first collection in March 2025. This move comes as Givenchy embarks on a major brand transformation under Burton’s leadership, marking a significant shift for the LVMH-owned label.
Elisabetta Franchi: Elisabetta Franchi names Matteo Aceti Global Communications Director. Aceti was formerly with Swarovski, Versace, and Louis Vuitton.
Messika: French luxury jewellery brand Messika appointed Edouard Schneider as its new Chief Brand Officer to drive its global expansion. Schneider, a communications veteran with experience at Acne Studios, Louis Vuitton, and Maison Margiela, will oversee brand communications, PR, social media, and visual merchandising across key international markets, including Asia.
Coty: Coty appointed Mathieu Dufresne as managing director in China to lead its expansion in the market. Dufresne has nearly 20 years of beauty industry experience and will focus on launching and growing the fragrance brand Infiniment Coty Paris while accelerating the development of skincare brands Lancaster and Orveda.
3. Marketing & Advertising
i. Google Unveils Advanced AI Tools for Retailers
Google unveiled new generative AI tools at the 2025 NRF Big Show to help retailers enhance customer experiences and streamline operations. Key highlights include:
- AI Agents for Retail: Retailers can create custom AI agents via Google Agentspace to deliver personalised product recommendations, real-time customer support, and guided shopping. These agents also automate tasks like inventory management and customer service.
- Enhanced AI Search Tools: New updates to Vertex AI Search for Commerce improve search functionality and user experiences.
- AI-Powered Marketing: Partnerships with Shopify, LiveRamp, and others enable more personalised campaigns, better customer insights, and optimised ad spending.
- Creative Tools: Advancements in image-to-video and image generation provide retailers with innovative content options.
ii. Microsoft Clarity Launches Google Ads Integration
Microsoft Clarity has launched a new integration with Google Ads, providing deeper insights into user behaviour after ad clicks. Key benefits include:
- Direct connection to Google Ads accounts.
- Advertising-focused dashboards.
- Campaign-focused engagement metrics, including Clarity’s heatmaps and session recordings.
- Insights into which campaigns drive meaningful interactions, enabling data-driven optimisations for both ads and landing pages.
Takeaway: This feature bridges the gap between ad spend and post-click behaviour, which can help marketers improve ROI by refining strategies based on actual engagement, not just conversion rates. It positions Clarity as a strong competitor in analytics for Google Ads advertisers.
iii. Google Ads Introduces Promo Code Formats for Promotion Assets
Google Ads introduced new barcode and QR code formats to its Promotion Assets, enabling streamlined customer redemption across online and in-store touchpoints. The barcodes support multiple formats (e.g., Aztec, EAN-8), while QR codes can include detailed promotional text (up to 720 characters) but not links.
Takeaway: This update enhances cross-channel promotional flexibility, simplifies mobile and physical store redemptions, and may boost conversion rates.
Discover More Industry Trends with JC
For the latest industry trends or to explore new career opportunities, connect with our luxury & retail recruitment consultants for a chat. With executive search firms in Singapore and China and operations in key business hubs like Hong Kong, you can count on our team for timely access to regional insights that can create synergy for your career and operations.
For employers: Beyond the luxury, retail and consumer goods industries, we also have dedicated desks for several sectors that enable us to meet your varied recruitment needs:
- HR recruitment
- Legal recruitment
- Financial services recruitment
- Tech recruitment
- Life sciences recruitment
Image Credits:
- Reuters
- Social Media Today