“The secondary market for luxury goods has always existed in the shadow of the primary market,” according to a report from the Boston Consulting Group, but that is beginning to change as demand for discounted pre-owned goods is giving rise to “one of the fastest-growing areas of luxury.” The management consulting firm estimates that luxury resale will grow at an average rate of 12 percent per year through 2021 to a whopping $36 billion market with a 9 percent share of the personal luxury goods segment. That is quite a bit larger than the 3 percent growth rate for the primary luxury market for that same period of time.  

Forever 21’s pending bankruptcy proceedings have officially put a halt to the $10 million-plus lawsuit that Ariana Grande filed in early September, accusing the Los Angeles-based fast fashion retailer of “publishing at least 30 unauthorized images and videos misappropriating [her] name, image, likeness, and music” – and enlisting a “lookalike model” – in order to “create the perception of Grande’s endorsement” of its products in lieu of paying the pop-star top-dollar to front its marketing campaign.  

During the summer of 2016, Justin Goldman spotted Tom Brady walking down Newtown Lane in East Hampton, New York along with Celtics players Kelly Olynyk and Marcus Smart, and a handful of the basketball team’s officials. Goldman snapped a candid photo of the New England Patriots star, posted it to his Snapchat, and went about his day in the swanky seaside town that draws well-heeled summer vacationers each year. Unbeknownst to Goldman, in posting the photo, he would have a hand in giving rise to a significant question in connection with copyright law and the internet: does the unauthorized embedding of social media posts amount to copyright infringement? 

LVMH Moët Hennessy Louis Vuitton is vying for Tiffany & Co. The Paris-based luxury goods conglomerate made a $14.5 billion play for the American jewelry stalwart last month, in furtherance of a quest to bolster its offerings in the fast-growing jewelry market. Just as analysts predicted, Tiffany’s board reportedly rejected LVMH’s initial, unsolicited offer to seek a higher price, thereby, potentially kicking off what Reuters calls“a battle for control of the company known for its signature robin’s egg blue packaging.”  

Concerns abound about whether Chinese consumers will continue to splurge on luxury goods and other “non-essential” items, with Sanford C. Bernstein revealing “weakening discretionary spending” and “more muted” demand from Chinese customers, thereby, suggesting that “the luxury-goods sector may be close to a ‘temporary plateau.’” While such news does not bode well for luxury brands, according to Bloomberg, such a down-trodden outlook was not readily observable during the country’s biggest shopping event: Singles’ Day.  

The demise of the Zac Posen brand is not coming without at least one lawsuit, which sheds some light into the winding down of the famed fashion brand. It turns out that a few weeks before Zac Posen announced that it would shutter after 20 years in business, the New York-based womenswear brand favored by supermodels, pop stars, and big-name celebrities was named in a new lawsuit by its former chief financial officer Dominic Miachon-Hobson, who is seeking upwards of $200,000 in unpaid wages and unreimbursed expenses.  

On the heels of Instagram’s decision to remove its visible “like” counter from its platform in certain geographic regions, such as Canada and Australia, earlier this year, the app’s operators say they will perform the same test in the U.S. beginning this month. The roll-out by the Facebook-owned photo and video-sharing app is being touted as larger ethos, which will see Instagram “make decisions that hurt the business if they help people's well-being and health," according to Instagram's CEO Adam Mosseri.  

LVMH Moët Hennessy Louis Vuitton has held the title of the world’s largest luxury goods conglomerate for years, but now the Paris-based entity is adding a new title to its roster: one of the most valuable companies in all of Europe. Shares in the Bernard Arnault-headed group – which owns 75 different brands ranging from fashion houses like Louis Vuitton, Dior, Givenchy, and Fendi to spirits companies, such as Veuve Clicquot and Moet – “are worth more than Europe’s biggest auto maker, Volkswagen AG, and biggest bank, HSBC Holdings,” according to the Wall Street Journal.  

It turns out that while Chanel and Chanel West Coast have managed to co-exist peacefully despite their similar names, the rapper has ruffled the feathers of actress Sharon Stone thanks to a 2018 song called … Sharon Stoned, and the recently-released music video for the single, which was “shot to evoke Sharon Stone’s name, likeness, image, identity, and persona associated with her iconic movie roles,” the actress asserts in a newly-filed lawsuit against Chelsea Dudley, who is best known by her stage name, Chanel West Coast. 

Adidas’s financial performance was impacted during the third quarter of the year by “weaker performance from Yeezy shoes designed by Kanye West.” Reuters reported on Wednesday that while the $7.10 billion in revenue that the German sportswear giant generated for the three months ending September 31 beat analysts’ expectations, footwear sales were only up by one percent compared to the same quarter last year.