3 Threats to Big Luxury

Why Spanx Hired Its First Celebrity Ambassador, Fashion's Africa Opportunity

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WHAT YOU NEED TO KNOW TODAY: TUESDAY, MAY 10, 2022 Big luxury firms face a triple threat from the return of experiences, the risk of recession and the growing ubiquity of their brands. With the shapewear category seeing an influx of star power, Spanx tapped its first celebrity spokesperson, Ashley Graham. Coty raised its full-year profit outlook on demand for high-end fragrance and skin care. Brands like Tommy Hilfiger and Hugo Boss are embarking on a new phase of expansion across Africa, opening stores in smaller markets like Senegal.

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LUXURY Three Threats to Big Luxury By Lauren Sherman

Top-tier luxury brands have come roaring out of the pandemic, but the return of experiences, the rising risk of a global downturn and growing ubiquity of widely distributed labels could spell trouble ahead. READ MORE

MARKETING Squeezed by Rivals, Spanx Taps Ashley Graham as Its First Celebrity Ambassador By Alexandra Mondalek

Graham will serve as the new face of the 22-year-old shapewear brand, which faces new challenges from upstarts like Skims. READ MORE

GLOBAL MARKETS Why Senegal Is on Global Fashion's Radar By Kingsley Kobo

Dakar's reputation as a regional fashion hub has persuaded brands like Tommy Hilfiger and Hugo Boss to expand to the capital of the West African nation as it upgrades its retail infrastructure. READ MORE

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NEWS BRIEFS Moda Operandi to Expand Into Beauty Ukrainian Creators Open Pop-Up Showcase in Paris Coty Lifts Annual Profit Forecast on Resilient Demand for Luxury Cosmetics

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Optimising Physical and Digital Wholesale Strategies for Growth "Without the right assortment, you're not going to be able to maximise what digital transformation really means in the wholesale space [and that] starts with a virtual showroom," said Joor CEO Kristin Savilia, in conversation at BoF's Professional Summit: New Frontiers in Fashion and Technology. Here, we share her insights on how a hybrid approach to wholesale will define and drive industry growth. READ MORE

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