Few luxury firms sell online, yet among those that do online retail is an important part of their business, accounting for 12 percent of revenues on average, according to a new survey.
Ninety-four percent of the 178 luxury brand executives surveyed by Forrester Research Inc. and the luxury association Walpole Committee said they have a brand Web site, but only 32 percent sell online. Of those who do, average online sales were $57 million.
A Stella McCartney sketch of a custom dress made from protein-based silk in partnership with biotech lab Bolt Threads. The dress will be displayed at The Museum of Modern Art's upcoming design exhibition, "Items: Is Fashion Modern?"