Luxury Headlines - 03/10/2023

This Week in Luxury

Luxury Headlines – 03/10/2023

From global stock expansions to innovative digital engagements! Discover the hottest updates in the world of luxury!

Coty Pursues Dual Listing on Paris Stock Exchange

Coty, which has been listed on the NYSE since 2013, on Monday confirmed its plans to pursue a dual listing on the Paris Stock Exchange, Euronext, with the goal of selling 33 million shares. The proceeds of the share sales will primarily be used to further pay down debt, but also for strategic future investments. This move underscores Coty’s confidence in its ongoing turnaround in performance since 2020, under its new CEO.
Louis Vuitton Creates a Discord Channel

To improve its connection with online communities, LVMH is launching a Discord server. This is an immersive and interactive chatroom, where participants, especially NFT holders, will be able to voice their opinions on specific brand-related topics and interact with each other and the brand. The channel will feature LV’s expertise, giving members access to exclusive content focusing on virtual reality, gaming, Web3, Esports, and technology. As part of the Via project, which provides NFT holders exclusive access to physical and digital products and experiences, they will have access to exclusive conversations to contribute to the development of new ideas.
Shiseido to Expand into Wellness in 2024

Shiseido is entering the wellness market with the launch of its Inner Beauty Business and Shiseido Beauty Wellness, which will be introduced in Japan before being distributed throughout Asia-Pacific in 2025. To strengthen the link between the skin, body, and mind, Shiseido will provide innovative beauty solutions in partnership with Japanese pharmaceutical company Tsumura & Co and manufacturing company Kagome Co.
Bugatti Rimac JV Plan for Global Expansion

Volkswagen Group of America has signed an exclusive deal with joint venture Bugatti-Rimac to handle the import and distribution of both Bugatti and Rimac into the US market. For both Bugatti and Rimac, the US could be the biggest and fastest-growing market with incredible expansion potential. Despite the general economic slowdown, sales in the top-end of hyper-performance cars have remained robust. Rimac is the Croatian EV maker at the top of the high-performance EV chain and producer of the Rimac Nevera, the fastest EV in the world. The joint venture between Bugatti and Rimac could pave the way for the first fully electric Bugatti.
Estée Lauder Opens Fragrance Atelier in Paris

Estée Lauder is establishing a new hub in France through a fragrance atelier that will focus on providing support to its high-end brands. Its mission is to develop new products and bring them to market at greater speed. This move shows the company’s ambitions to grow further within the prestige category and the European market through direct access to industry talent and local suppliers in Europe.