Chanel, Armani, Tiffany's: What's killing ‘big logo' luxury brands?
Three years ago, they began adding handbags to the mix. 'We started with just one rack,' Lamme said.
Now, third-party authenticated handbags have a prized place in the centre of their busy stall, where they can sell more than 20 vintage Coach or Louis Vuitton bags from $200 to upwards of $1000 on a single weekend.
'It's getting more and more popular,' Lamme said. Some teenage girls come with their parents, who buy them their first designer bag. 'If they have three kids, they buy for three.'
The Sathalets' busy stall is a stark departure from what's happening at the big end of town. Some traditional 'big logo' luxury brands are battling declining profits and popularity among Australian shoppers who are making fewer in-store purchases and favouring more affordable options at resellers.
Fashion houses Chanel, Tiffany & Co and Giorgio Armani recorded declines among their Australian sales and profits in 2024, while Hermes and Prada have found ways to sharpen their competitive edge, according to recent financial reports filed to the corporate regulator.
Australia is no exception to global trends affecting a fall in the luxury market as it experiences its toughest slowdown since the global financial crisis, says the director of RetailOasis consultancy Trent Rigby.
Growth in the global luxury market in the years ahead is expected to slow to 1-3 per cent, from 5 per cent between 2019 and 2023, when luxury giants' profits tripled, a 2025 McKinsey report has found.
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The Advertiser
25 minutes ago
- The Advertiser
PM says Indigenous partnership to unlock true potential
A "real economy" is needed in Arnhem Land, say Indigenous leaders addressing a major Australian cultural gathering. Yothu Yindi Foundation chair Djawa Yunupingu has told crowds at Garma Festival at Gulkula in northeast Arnhem Land his people plan on being part of the future. "Yolngu people are not suddenly going to stop and rest and think everything is OK," he said on Saturday. "We intend to use our lands and waters for our own future and the future of our children, and the future of our nation." His comments came as Prime Minister Anthony Albanese used his Garma address to unveil an economic partnership with the Coalition of Peaks. "Our government also wants to work with communities as economic decision-makers, to unlock the true potential of their land and their endeavour beyond passing transactions to lasting partnerships that create and share wealth," he said. The approach would allow traditional owners to advocate for infrastructure, housing and energy projects on their land and to build equity beyond the land itself. Mr Albanese also announced $70 million for Indigenous clean energy projects, $75 million for native title reforms and $31 million for a mobile TAFE program under the partnership. The prime minister said, "we have made a start but there is more to do". "We must end the stalemate that arises when native title organisations with little in the way of back-of-house, or legal and commercial expertise are expected to negotiate with multinational firms." Mr Albanese said the partnership builds on agreements made under Closing the Gap, saying it is a "new way of doing business". Closing the Gap has been a major topic of discussion at Garma, which has become a ground for political conversations and policy announcements while also focusing on culture and empowerment of the local Yolngu people. Data released on Thursday revealed just four of 19 targets are on track to be met, with another four goals going backwards - adult incarceration, children in out-of-home care, suicide rates and child development. Mr Albanese said Closing the Gap data underlined the fact that a different, dedicated approach was required to address these issues. "Reports and reviews have their place but they are not a substitute for outcomes, results," he said. "Creating a process matters but it is not the same thing as making progress." Mr Yunupingu closed his address by telling the prime minister he was open to doing business together. "My brothers and sisters are telling me now, we have serious business," he said. "They are reminding me that making hard decisions with serious people is what leadership is all about." 13YARN 13 92 76 Lifeline 13 11 14 A "real economy" is needed in Arnhem Land, say Indigenous leaders addressing a major Australian cultural gathering. Yothu Yindi Foundation chair Djawa Yunupingu has told crowds at Garma Festival at Gulkula in northeast Arnhem Land his people plan on being part of the future. "Yolngu people are not suddenly going to stop and rest and think everything is OK," he said on Saturday. "We intend to use our lands and waters for our own future and the future of our children, and the future of our nation." His comments came as Prime Minister Anthony Albanese used his Garma address to unveil an economic partnership with the Coalition of Peaks. "Our government also wants to work with communities as economic decision-makers, to unlock the true potential of their land and their endeavour beyond passing transactions to lasting partnerships that create and share wealth," he said. The approach would allow traditional owners to advocate for infrastructure, housing and energy projects on their land and to build equity beyond the land itself. Mr Albanese also announced $70 million for Indigenous clean energy projects, $75 million for native title reforms and $31 million for a mobile TAFE program under the partnership. The prime minister said, "we have made a start but there is more to do". "We must end the stalemate that arises when native title organisations with little in the way of back-of-house, or legal and commercial expertise are expected to negotiate with multinational firms." Mr Albanese said the partnership builds on agreements made under Closing the Gap, saying it is a "new way of doing business". Closing the Gap has been a major topic of discussion at Garma, which has become a ground for political conversations and policy announcements while also focusing on culture and empowerment of the local Yolngu people. Data released on Thursday revealed just four of 19 targets are on track to be met, with another four goals going backwards - adult incarceration, children in out-of-home care, suicide rates and child development. Mr Albanese said Closing the Gap data underlined the fact that a different, dedicated approach was required to address these issues. "Reports and reviews have their place but they are not a substitute for outcomes, results," he said. "Creating a process matters but it is not the same thing as making progress." Mr Yunupingu closed his address by telling the prime minister he was open to doing business together. "My brothers and sisters are telling me now, we have serious business," he said. "They are reminding me that making hard decisions with serious people is what leadership is all about." 13YARN 13 92 76 Lifeline 13 11 14 A "real economy" is needed in Arnhem Land, say Indigenous leaders addressing a major Australian cultural gathering. Yothu Yindi Foundation chair Djawa Yunupingu has told crowds at Garma Festival at Gulkula in northeast Arnhem Land his people plan on being part of the future. "Yolngu people are not suddenly going to stop and rest and think everything is OK," he said on Saturday. "We intend to use our lands and waters for our own future and the future of our children, and the future of our nation." His comments came as Prime Minister Anthony Albanese used his Garma address to unveil an economic partnership with the Coalition of Peaks. "Our government also wants to work with communities as economic decision-makers, to unlock the true potential of their land and their endeavour beyond passing transactions to lasting partnerships that create and share wealth," he said. The approach would allow traditional owners to advocate for infrastructure, housing and energy projects on their land and to build equity beyond the land itself. Mr Albanese also announced $70 million for Indigenous clean energy projects, $75 million for native title reforms and $31 million for a mobile TAFE program under the partnership. The prime minister said, "we have made a start but there is more to do". "We must end the stalemate that arises when native title organisations with little in the way of back-of-house, or legal and commercial expertise are expected to negotiate with multinational firms." Mr Albanese said the partnership builds on agreements made under Closing the Gap, saying it is a "new way of doing business". Closing the Gap has been a major topic of discussion at Garma, which has become a ground for political conversations and policy announcements while also focusing on culture and empowerment of the local Yolngu people. Data released on Thursday revealed just four of 19 targets are on track to be met, with another four goals going backwards - adult incarceration, children in out-of-home care, suicide rates and child development. Mr Albanese said Closing the Gap data underlined the fact that a different, dedicated approach was required to address these issues. "Reports and reviews have their place but they are not a substitute for outcomes, results," he said. "Creating a process matters but it is not the same thing as making progress." Mr Yunupingu closed his address by telling the prime minister he was open to doing business together. "My brothers and sisters are telling me now, we have serious business," he said. "They are reminding me that making hard decisions with serious people is what leadership is all about." 13YARN 13 92 76 Lifeline 13 11 14 A "real economy" is needed in Arnhem Land, say Indigenous leaders addressing a major Australian cultural gathering. Yothu Yindi Foundation chair Djawa Yunupingu has told crowds at Garma Festival at Gulkula in northeast Arnhem Land his people plan on being part of the future. "Yolngu people are not suddenly going to stop and rest and think everything is OK," he said on Saturday. "We intend to use our lands and waters for our own future and the future of our children, and the future of our nation." His comments came as Prime Minister Anthony Albanese used his Garma address to unveil an economic partnership with the Coalition of Peaks. "Our government also wants to work with communities as economic decision-makers, to unlock the true potential of their land and their endeavour beyond passing transactions to lasting partnerships that create and share wealth," he said. The approach would allow traditional owners to advocate for infrastructure, housing and energy projects on their land and to build equity beyond the land itself. Mr Albanese also announced $70 million for Indigenous clean energy projects, $75 million for native title reforms and $31 million for a mobile TAFE program under the partnership. The prime minister said, "we have made a start but there is more to do". "We must end the stalemate that arises when native title organisations with little in the way of back-of-house, or legal and commercial expertise are expected to negotiate with multinational firms." Mr Albanese said the partnership builds on agreements made under Closing the Gap, saying it is a "new way of doing business". Closing the Gap has been a major topic of discussion at Garma, which has become a ground for political conversations and policy announcements while also focusing on culture and empowerment of the local Yolngu people. Data released on Thursday revealed just four of 19 targets are on track to be met, with another four goals going backwards - adult incarceration, children in out-of-home care, suicide rates and child development. Mr Albanese said Closing the Gap data underlined the fact that a different, dedicated approach was required to address these issues. "Reports and reviews have their place but they are not a substitute for outcomes, results," he said. "Creating a process matters but it is not the same thing as making progress." Mr Yunupingu closed his address by telling the prime minister he was open to doing business together. "My brothers and sisters are telling me now, we have serious business," he said. "They are reminding me that making hard decisions with serious people is what leadership is all about." 13YARN 13 92 76 Lifeline 13 11 14
The Advertiser
25 minutes ago
- The Advertiser
Business slams plan to enshrine right to work from home
A legal right to work from home would be divisive and likely send jobs elsewhere, business groups say. A state government has revealed plans to enshrine the right to work from home for both public and private-sector employees. The premier behind the Australian-first push hails its as the next frontier in worker rights that would benefit working parents. The Victorian government has promised to introduce legislation in 2026 for the right to work from home on two days per week, in contrast to other states that want public servants to spend more time in the office. The proposed law would apply to all public and private sector employees in Victoria who can reasonably do their job from home. Details are yet to be worked through and Premier Jacinta Allan signalled the changes could come into effect under Victoria's Equal Opportunity Act, as private workplaces are regulated by federal laws. Ms Allan promoted the plan as beneficial to both the economy and families, likening it to other significant workplace changes in recent decades including more women entering the workforce. "There's been many, many gains over many, many generations that have supported women's opportunity to increase their workforce participation, this is just another important, big step," she told reporters. Issues such as the definition of remote work, who can do it, how it would affect part-time workers and the types of businesses to which the law would apply, will be figured out through a consultation process. Ms Allan said the decision had gone through cabinet and brushed off suggestions it could trigger a court challenge. The plan drew sharp criticism from business groups, with Australian Industry Group Victorian head Tim Piper describing it as serious government overreach that undermines business autonomy. He described it as "pure political theatre" designed to wedge the opposition while also running counter to both global trends and business best practice. "These policies foster an 'us versus them' dynamic, privileging some white-collar workers while leaving blue-collar employees with no choice," he said. "It's divisive, disruptive, and dangerous." Victorian Chamber of Commerce and Industry chief executive Paul Guerra claimed businesses would move interstate and jobs would be lost if Victoria moved away from the legislated national system. "(Work from home) certainly works well in some contexts, but that should be determined by the employer in consultation with the employee," he said. Ms Allan promised to introduce the law in 2026 prior to the state election. Polls indicate Labor is on track to win a fourth term but the November 2026 poll will be the first as premier for Ms Allan, who lags opposition leader Brad Battin as preferred state leader. Mr Battin said working from home was a valuable option for many workers and families. "We support measures that help Victorians enjoy a better work-life balance, and will review any legislation closely, to ensure it supports flexibility, productivity and personal choice," he said. The federal coalition's push to end to working-from-home for public servants was partly blamed for its unsuccessful result at the May federal election, despite abandoning the policy before polling day. NSW Premier Chris Minns has described remote-work provisions as a thing of the past but stopped short of seeking an end to working from home, instead ordering public servants to work principally in offices. More than one third of Australian employees usually work from home but that number swells to 60 per cent of managers and people in professional services, according to the Australian Bureau of Statistics. The bureau says 43 per cent who work from home do overtime, compared to one quarter of those who do not. A legal right to work from home would be divisive and likely send jobs elsewhere, business groups say. A state government has revealed plans to enshrine the right to work from home for both public and private-sector employees. The premier behind the Australian-first push hails its as the next frontier in worker rights that would benefit working parents. The Victorian government has promised to introduce legislation in 2026 for the right to work from home on two days per week, in contrast to other states that want public servants to spend more time in the office. The proposed law would apply to all public and private sector employees in Victoria who can reasonably do their job from home. Details are yet to be worked through and Premier Jacinta Allan signalled the changes could come into effect under Victoria's Equal Opportunity Act, as private workplaces are regulated by federal laws. Ms Allan promoted the plan as beneficial to both the economy and families, likening it to other significant workplace changes in recent decades including more women entering the workforce. "There's been many, many gains over many, many generations that have supported women's opportunity to increase their workforce participation, this is just another important, big step," she told reporters. Issues such as the definition of remote work, who can do it, how it would affect part-time workers and the types of businesses to which the law would apply, will be figured out through a consultation process. Ms Allan said the decision had gone through cabinet and brushed off suggestions it could trigger a court challenge. The plan drew sharp criticism from business groups, with Australian Industry Group Victorian head Tim Piper describing it as serious government overreach that undermines business autonomy. He described it as "pure political theatre" designed to wedge the opposition while also running counter to both global trends and business best practice. "These policies foster an 'us versus them' dynamic, privileging some white-collar workers while leaving blue-collar employees with no choice," he said. "It's divisive, disruptive, and dangerous." Victorian Chamber of Commerce and Industry chief executive Paul Guerra claimed businesses would move interstate and jobs would be lost if Victoria moved away from the legislated national system. "(Work from home) certainly works well in some contexts, but that should be determined by the employer in consultation with the employee," he said. Ms Allan promised to introduce the law in 2026 prior to the state election. Polls indicate Labor is on track to win a fourth term but the November 2026 poll will be the first as premier for Ms Allan, who lags opposition leader Brad Battin as preferred state leader. Mr Battin said working from home was a valuable option for many workers and families. "We support measures that help Victorians enjoy a better work-life balance, and will review any legislation closely, to ensure it supports flexibility, productivity and personal choice," he said. The federal coalition's push to end to working-from-home for public servants was partly blamed for its unsuccessful result at the May federal election, despite abandoning the policy before polling day. NSW Premier Chris Minns has described remote-work provisions as a thing of the past but stopped short of seeking an end to working from home, instead ordering public servants to work principally in offices. More than one third of Australian employees usually work from home but that number swells to 60 per cent of managers and people in professional services, according to the Australian Bureau of Statistics. The bureau says 43 per cent who work from home do overtime, compared to one quarter of those who do not. A legal right to work from home would be divisive and likely send jobs elsewhere, business groups say. A state government has revealed plans to enshrine the right to work from home for both public and private-sector employees. The premier behind the Australian-first push hails its as the next frontier in worker rights that would benefit working parents. The Victorian government has promised to introduce legislation in 2026 for the right to work from home on two days per week, in contrast to other states that want public servants to spend more time in the office. The proposed law would apply to all public and private sector employees in Victoria who can reasonably do their job from home. Details are yet to be worked through and Premier Jacinta Allan signalled the changes could come into effect under Victoria's Equal Opportunity Act, as private workplaces are regulated by federal laws. Ms Allan promoted the plan as beneficial to both the economy and families, likening it to other significant workplace changes in recent decades including more women entering the workforce. "There's been many, many gains over many, many generations that have supported women's opportunity to increase their workforce participation, this is just another important, big step," she told reporters. Issues such as the definition of remote work, who can do it, how it would affect part-time workers and the types of businesses to which the law would apply, will be figured out through a consultation process. Ms Allan said the decision had gone through cabinet and brushed off suggestions it could trigger a court challenge. The plan drew sharp criticism from business groups, with Australian Industry Group Victorian head Tim Piper describing it as serious government overreach that undermines business autonomy. He described it as "pure political theatre" designed to wedge the opposition while also running counter to both global trends and business best practice. "These policies foster an 'us versus them' dynamic, privileging some white-collar workers while leaving blue-collar employees with no choice," he said. "It's divisive, disruptive, and dangerous." Victorian Chamber of Commerce and Industry chief executive Paul Guerra claimed businesses would move interstate and jobs would be lost if Victoria moved away from the legislated national system. "(Work from home) certainly works well in some contexts, but that should be determined by the employer in consultation with the employee," he said. Ms Allan promised to introduce the law in 2026 prior to the state election. Polls indicate Labor is on track to win a fourth term but the November 2026 poll will be the first as premier for Ms Allan, who lags opposition leader Brad Battin as preferred state leader. Mr Battin said working from home was a valuable option for many workers and families. "We support measures that help Victorians enjoy a better work-life balance, and will review any legislation closely, to ensure it supports flexibility, productivity and personal choice," he said. The federal coalition's push to end to working-from-home for public servants was partly blamed for its unsuccessful result at the May federal election, despite abandoning the policy before polling day. NSW Premier Chris Minns has described remote-work provisions as a thing of the past but stopped short of seeking an end to working from home, instead ordering public servants to work principally in offices. More than one third of Australian employees usually work from home but that number swells to 60 per cent of managers and people in professional services, according to the Australian Bureau of Statistics. The bureau says 43 per cent who work from home do overtime, compared to one quarter of those who do not. A legal right to work from home would be divisive and likely send jobs elsewhere, business groups say. A state government has revealed plans to enshrine the right to work from home for both public and private-sector employees. The premier behind the Australian-first push hails its as the next frontier in worker rights that would benefit working parents. The Victorian government has promised to introduce legislation in 2026 for the right to work from home on two days per week, in contrast to other states that want public servants to spend more time in the office. The proposed law would apply to all public and private sector employees in Victoria who can reasonably do their job from home. Details are yet to be worked through and Premier Jacinta Allan signalled the changes could come into effect under Victoria's Equal Opportunity Act, as private workplaces are regulated by federal laws. Ms Allan promoted the plan as beneficial to both the economy and families, likening it to other significant workplace changes in recent decades including more women entering the workforce. "There's been many, many gains over many, many generations that have supported women's opportunity to increase their workforce participation, this is just another important, big step," she told reporters. Issues such as the definition of remote work, who can do it, how it would affect part-time workers and the types of businesses to which the law would apply, will be figured out through a consultation process. Ms Allan said the decision had gone through cabinet and brushed off suggestions it could trigger a court challenge. The plan drew sharp criticism from business groups, with Australian Industry Group Victorian head Tim Piper describing it as serious government overreach that undermines business autonomy. He described it as "pure political theatre" designed to wedge the opposition while also running counter to both global trends and business best practice. "These policies foster an 'us versus them' dynamic, privileging some white-collar workers while leaving blue-collar employees with no choice," he said. "It's divisive, disruptive, and dangerous." Victorian Chamber of Commerce and Industry chief executive Paul Guerra claimed businesses would move interstate and jobs would be lost if Victoria moved away from the legislated national system. "(Work from home) certainly works well in some contexts, but that should be determined by the employer in consultation with the employee," he said. Ms Allan promised to introduce the law in 2026 prior to the state election. Polls indicate Labor is on track to win a fourth term but the November 2026 poll will be the first as premier for Ms Allan, who lags opposition leader Brad Battin as preferred state leader. Mr Battin said working from home was a valuable option for many workers and families. "We support measures that help Victorians enjoy a better work-life balance, and will review any legislation closely, to ensure it supports flexibility, productivity and personal choice," he said. The federal coalition's push to end to working-from-home for public servants was partly blamed for its unsuccessful result at the May federal election, despite abandoning the policy before polling day. NSW Premier Chris Minns has described remote-work provisions as a thing of the past but stopped short of seeking an end to working from home, instead ordering public servants to work principally in offices. More than one third of Australian employees usually work from home but that number swells to 60 per cent of managers and people in professional services, according to the Australian Bureau of Statistics. The bureau says 43 per cent who work from home do overtime, compared to one quarter of those who do not.
Sydney Morning Herald
5 hours ago
- Sydney Morning Herald
Cheesed off: Swiss meltdown over Trump's ‘incomprehensible' tariff whack
London: Swiss companies are reeling from a shock move by US President Donald Trump to slap a 39 per cent tariff on their exports, stunning brand-name suppliers of luxury watches, jewellery, cheese and chocolate. Swiss chocolate makers have declared the move 'incomprehensible' and are warning it will hit them hard, as the changes flow through to higher prices for American customers. The biggest names in luxury watches, already suffering a slowdown in America after Trump's previous trade decisions, now confront extraordinary price hikes that could lead them to expand sales in other markets. Trump spared Australia from higher penalties in his sweeping trade decision on Thursday, leaving tariffs at 10 per cent for most Australian exports, but he singled out Switzerland with the biggest blow to any European country. At 39 per cent, the new rate is higher than the 31 per cent tariff the president proposed in April – and much worse than Swiss leaders expected. The decision puts the Swiss exporters at a grave disadvantage to competitors in Belgium, France, Germany, Italy and other countries that will incur the 15 per cent tariff applied to the European Union. While Americans may have to pay steeper prices for Bally fashion made in Switzerland, they would incur a more modest price hike for a Dior item made in France or Armani product made in Italy. 'It is incomprehensible why Switzerland is affected by these tariffs, as reciprocity is out of the question,' industry group Chocosuisse said, repeating concerns it aired in April.
