Keep up with what’s happening in the luxury industry in the second week of the new year. 2022’s first fashion collaboration is unveiled by Balmain, luxury car brands release their sales reports for the previous year, and another Indian conglomerate buys a majority stake in a popular fashion brand. Here’s a quick recap.
Aditya Birla Fashion and Retail Limited bought a 51% stake in House of Masaba Lifestyle for ₹90 crore. The partners plan to build a gen-next fashion and lifestyle brand under the brand ‘Masaba’, including categories like home décor, athleisure, cosmetics, personal care, for the digitally native consumer.
Chinese New Year
Luxury high-fashion brands once again geared up for the Lunar New Year with special capsule collections. Fendi, Alexander McQueen, Dior, Gucci and Valentino celebrated the Year of the Tiger with limited-edition apparel and accessories.
Highest car sales on record
2021 proved to be great year for the luxury car industry. Rolls-Royce reported the highest sales in its 117-year history for the year. Despite the Covid-19 pandemic and a global chip shortage, Lamborghini also achieved record sales, with 8,405 cars sold. Click here to know more.
Bottega Veneta marked the upcoming Chinese Lunar New Year, with great aplomb. The luxury fashion house displayed a “Happy New Year” message on a large digital screen on the Great Wall of China in shades of Bottega green and tangerine. Bottega Veneta has also pledged a donation to support the renovation and maintenance of the ‘Shanhai Pass’, the Wall’s easternmost stronghold, aka, the ‘First Pass under Heaven’. The installation was live from January 6-12.
SUGAR cosmetics picks up stake in ENN Beauty
SUGAR Cosmetics’ parent company, Vellvette Lifestyle Pvt. Ltd. picked up a majority stake in Indian natural skin and hair care brand ENN Beauty for an undisclosed amount. According to a statement, this move will see ENN Beauty’s founder, Nandeeta Manchanda work closely with Vineeta Singh and Kaushik Mukherjee, co-founders of Vellvette Lifestyle, to grow the brand’s online presence and venture further into offline retail.
RIL acquires stake in Mandarin Oriental NYC
Mukesh Ambani led Reliance Industries Limited (RIL) announced the acquisition of luxury hotel Mandarin Oriental in New York City. The flagship property was acquired for an indirect 73.37% stake of approximately $98.15 million.
Cultural icons, Barbie and Balmain, launched a limited-edition collection of apparel, accessories and NFTs (non-fungible tokens). Shades of pink colour this unisex edit, which released worldwide on January 13.
Luxury Swiss watchmaker Zenith and Japanese anime series Lupin The Third dropped their final timepiece this week. The Chronomaster Revival Lupin The Third – Final Edition is a 250-piece limited edition and combines the dials of both the first and second editions. Lupin The Third and Zenith first collaborated in the 1970s when one of the series’ main characters wore a Zenith watch based on the A384 with an imaginary dial. Zenith turned this partnership into reality in 2019 when launching the first edition of the Lupin Japanese manga and anime series.
Hennessy launched its first NFT, partnering with BlockBar, an NFT marketplace for wine and spirits. The LVMH-owned Cognac brand has released two NFTs, priced at a total of $226,450. The collector gets physical and digital ownership of the first and last bottles (1 and 250, respectively) of Hennessy 8, a limited-edition expression by the brand. In store is also a complimentary trip to the Hennessy estate in Cognac, France.
Tag Heuer Autavia chronographs
In anticipation of the 60th birthday of its Autavia line, Swiss watchmaker Tag Heuer launches three stunning limited-edition watches. This includes two Tag Heuer Autavia Chronometer Flyback in variants, one with an all-black design, and the other with a silver dial and a Tag Heuer Autavia COSC GMT. The luxurious watches are priced between $4,200 and $6,950. Click here to know more.