Latest news with #Lotus
Business Insider
14 hours ago
- Business
- Business Insider
The luxury market is poised for a big slowdown, but there are some areas where people are still willing to splurge
It's been a rough year for luxury retailers, as economic headwinds have reduced consumer demand, but there are still a few places where people are willing to spend money. Luxury brands could be facing their biggest setback in 15 years, according to a report published by Bain & Company and Italian luxury goods industry association Altagamma on Thursday. In addition to a global trade war, the industry is struggling to adapt to social and cultural changes. Demand in the US and China, the two biggest markets for luxury products, has been slowing. Some legacy companies are facing financial difficulties with debt and restructuring. Another challenge for the luxury market is Gen Z, a demographic with growing skepticism toward luxury goods, according to Bain. This younger generation of consumers prioritizes self-expression and creativity, and the luxury industry will need to successfully adapt its messaging if it wants to woo more Gen Z customers. Bain estimates that spending on personal luxury goods could be on track for a "continued slip." In a worst-case scenario, Bain estimates the market for personal luxury goods could shrink by 5% to 9%. Consumers are still splurging selectively However, that doesn't mean consumers are pulling back everywhere. Luxury experiences outperformed personal goods in the first quarter of 2025, and companies are leaning hard into "beyond product" experiences such as vacations and gourmet restaurants. Luxury hospitality — think White Lotus -esque resorts — is taking off, with this year seeing rising hotel occupancy rates and longer stays. While traditional luxury markets in the US, China, and Europe are stagnating, the Middle East, Latin America, and other parts of Asia are seeing increased demand from consumers seeking high-end tourism experiences. The UAE, Qatar, and Saudi Arabia are leading the charge in this new trend, according to Bain. Consumers are also eager for luxury cruises. Following the trend of increased personalization, they prefer slower, more immersive trips on smaller ships. Yachts and private jets are experiencing a backlog of demand. Fine dining and gourmet food rank high on consumers' radars, and they chase highly curated experiences. Some areas of personal luxury goods are also thriving. Demand for jewelry, apparel, and eyewear has been robust this year for both uber-luxury and aspirational offerings. Fragrances are a top-performing category due to their popularity with Gen Z and "premiumization." Luxury brands are elevating their perfume offerings by making them more exclusive, expensive, and experiential. Bain also identified some categories that haven't been doing so well: watches, leather goods, and footwear. Unless there's more innovation in these products, it's likely they'll continue to see declining demand. As luxury brands adapt to changing consumer preferences, Bain predicts the gap between the industry leaders and laggards will only become more pronounced. Luxury's winners will be the brands that offer the kind of personalization and novelty that convinces even cautious consumers to spend.
The Sun
21 hours ago
- Business
- The Sun
Sizzling hot prices alert! Lotus's ‘Harga Hangat' is here
GOOD news shoppers! Lotus's Malaysia is bringing back its much-loved Harga Hangat campaign, offering Malaysians sizzling savings on over 360 essential items. Running from 19 June to 30 July 2025, the nationwide campaign spans all 70 Lotus's stores, offering discounts of up to 30% on everyday staples — from pantry must-haves and chilled goods to household items and more. In response to rising living costs, the retailer has allocated over RM4 million to the six-week initiative,
The Sun
21 hours ago
- Business
- The Sun
Sizzling hot prices alert! Lotus's ‘Harga Hangat' promo is here until July 30
GOOD news shoppers! Lotus's Malaysia is bringing back its much-loved Harga Hangat campaign, offering Malaysians sizzling savings on over 360 essential items. Running from 19 June to 30 July 2025, the nationwide campaign spans all 70 Lotus's stores, offering discounts of up to 30% on everyday staples — from pantry must-haves and chilled goods to household items and more. In response to rising living costs, the retailer has allocated over RM4 million to the six-week initiative, A major highlight of Harga Hangat 2025 includes up to 90 SKUs from Lotus's Own Brand: Cute+Care baby care Tasty 3-in-1 beverages Ready-to-go frozen bites (burgers, pizzas, confectioneries) Canned foods, UHT milk, pasta, snacks, and biscuits Look out for the bold Harga Hangat red tags in-store and on Lotus's Shop Online! There are also exclusive My Lotus's member deals offering up to 50% off until the end of 2025, loyal customers are rewarded even more. Plus, don't forget Members' Day every second Wednesday of the month, where extra savings await.
Auto Car
2 days ago
- Automotive
- Auto Car
My Week In Cars: New Steve Cropley/Matt Prior podcast (ep.145)
Close This week Steve Cropley and Matt Prior talk about Cropley's latest travels, to Norfolk to visit Lotus, a trip he makes in the Dacia Jogger, making much more expensive cars look silly. Prior spots a Cozy Coupe headed for the scrapheap in the sky, and the pair talk about a new 1.6-litre Caterham, American EV trucks, Steve's 10th Lotus, and much more besides, including your correspondence. You can make sure you never miss an Autocar podcast by subscribing wherever you get your podcasts. And if you'd be wiling to rate and review the Pod, we'd appreciate it more than you know, too
Web Release
3 days ago
- Entertainment
- Web Release
Lines of Fire: A New Book Published by AUB Press
The American University of Beirut (AUB) Press announced the release of its new publication Lines of Fire by Dr. Tariq Mehmood. Focusing on the works of the Afro-Asian Writers' Movement between the 1960s and 1970s, it presents a selection of poetry from the rich archives of the two major journals published during that time, The Call and Lotus. Through the selection, this book highlights key works from a movement that brought writers from all corners of the world together under the banner of resistance. Lines of Fire was finalized against the backdrop of escalating violence. 'It reminded me that poetry is not just an outlet for anger, grief, or love,' writes Mehmood in the introduction. 'It is resistance. It is resilience. It is the refusal to be erased.' Over the course of his research, the author's path has brought him together with many renowned poets and writers who shaped the history covered in this book. One of these poets is Ziad Abdulfattah, the last living editor of the journals. Ziad has written the foreword to this book where he shares his first-hand experience in formulating a journal and developing it to allow it to reach the entire world. This book introduces the history of the Afro-Asian Writers' Movement and highlights those who used their pens as weapons to fight injustice. This work also extensively discusses the Tashkent and Bandung conferences that aimed to bring writers together, discuss peace, poetry, and decolonization. As in many movements, internal conflicts and the watchful eye of intelligent services were some of the challenges that faced the writers and editors. Most importantly, this work draws parallels between the struggles of the past and those of today, placing poetry and powerful writing at the heart of resistance, remembrance, and the ongoing fight for justice. The book includes more than one-hundred poems from The Call and Lotus categorized into four sections: Exile, Independence and Nationalism, Place and Land, and Hope and Endurance.
