How rapid change is reshaping the tradition-soaked luxury sector in Europe and beyond.

Designers Luke and Lucie Meier have softened the fast-growing brand’s signature rigour with a newfound dreaminess that is all about them, writes Tim Blanks.

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Prices for pre-owned Rolex watches kept falling on the secondary market last month while entry-level models and brands like Cartier and Omega fared comparatively better.

On Saturday, subscribers to Philo’s mailing list received an email confirming the launch date along with a fast-moving GIF of flashing images teasing a glimpse of her creative vision for the label for the first time.

Italy’s fashion label Moschino will hire its new creative director in the next few weeks, said Massimo Ferretti, the executive chairman at Aeffe, which owns the brand.