Week 35 in Luxury: Chanel's new wearables, OpenAI and Conde Nast, Ulta Beauty braces for a slowdown
Welcome to the Week 35 edition of "This Week in Luxury," where we’ll bring you the latest developments in the world of luxury!
1. After unprecedented beauty growth, Ulta Beauty braces for a slowdown
Years of post-Covid growth in beauty may be coming to an end. On Thursday, retail giant Ulta Beauty reported a disappointing outlook for the year ahead after the second quarter of 2024 turned up a 1.2% decrease in comparable sales.
Read the full article here | GLOSSY
2. OpenAI signs content deal with CondE Nast
OpenAI on Tuesday announced a multi-year partnership with Condé Nast to display content from its brands such as the Vogue and the New Yorker within the AI startup's products, including ChatGPT and SearchGPT prototype.
Financial terms of the deal were not disclosed.
Read the full article here | Reuters
3. How Shoppers Get Luxury’s Most Exclusive Products
Shoppers are finding alternative ways to get their hands on the unattainable bags, shoes and watches, from auction houses to specialised fashion sourcers.
Read the full article here | Business Of Fashion
4. Chanel has launched a new tech wearable. Will luxury consumers bite?
As the tech wearables race heats up, Chanel has joined the running. Earlier this week, the brand unveiled its latest project – a watch-slash-earphone hybrid that combines the craft of timepiece-making with innovation.
With more luxury players wanting a piece of the tech wearables pie, who’s balancing style and utility best?
Read the full article here | Jing Daily
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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