Keeping you updated on the latest luxury fashion resale, retail, and tech news by the Luxclusif R&D team.?
- Rolex officially introduced a Certified Pre-Owned Program. Under the program, Rolex makes it possible for consumers to purchase collector's watches that the label has certified as authentic. In order to preserve and maintain its existing products, the brand will guarantee watches that are at least three years old with demanding quality criteria to which all Rolex products must adhere. Once authenticated, the company's second-hand products will receive a two-year international warranty that will remain valid from the date of their resale within the Rolex network. The program will first be available in select Bucherer boutiques in six countries in Europe starting this month. Other Rolex retailers that choose to be part of the program will be able to join in the spring of next year. Official retailers will display a Rolex Certified Pre-Owned signature plaque, and each product will have a Rolex Certified Pre-Owned seal confirming its status as an authenticated, second-hand watch. In addition, retailers will send an official warranty card at the time of purchase, confirming the watch's authenticity.
- Kering and L'Occitane partner in Climate Fund for Nature. Luxury group Kering and cosmetics giant L'Occitane have teamed up to launch the Climate Fund for Nature during the Conference of the Parties (COP) to the Convention on Biological Diversity, which is taking place in Montreal. The aim of the initiative is to mobilize resources from the luxury fashion and beauty sectors to protect and restore nature, with a special focus on empowering women. The duo has already committed €140 million of a €300 million goal, which will be managed by the sustainable investment company Mirova. New partner companies will be welcomed to support the funding, with the fund vehicle to start operations from Q1 2023.
- Adidas partnered with Snapchat to launch a new Bitmoji Fashion Drop, giving users access to exclusive merchandise for a limited time. The partnership allowed users to use Snap Tokens to purchase an exclusive Adidas track jacket for their Bitmoji.
- Nike's Jordan brand is set to open its first dedicated retail flagship in Milan later this month. The store will be the first permanent location for the brand focused on basketball and streetwear. Until now, Jordan products including sneakers, tracksuits, and backpacks have only been available in Nike stores, on Nike.com, or through the retailer's SNKRS app. There have also been previous stores under the Jordan brand in Dubai and Manila, although this is the first "World of Flight" flagship, described by the brand as a new retail concept. The 360sqm store is scheduled to open on December 16 and will be located in the city's Via Torino, a popular retail destination in the Italian capital. The retail concept, which will also host events, is designed to be at the forefront of streetwear and basketball culture.
- Pantone’s 2023 color of the year is a"carmine red," made in conjunction with an AI tool called Viva Magenta. Per a press release, it is "an unconventional shade for an unconventional time." Pantone's 2023 color of the year is different from all the rest in a major way: It's metaverse-ready.
