The global luxury and fashion industry has tripled in the last 20 years to approximately $300 billion and continues to grow rapidly. With expansion and diversification comes a whole new set of business challenges to navigate, which a new guide from global law firm Baker McKenzie seeks to address.

“Luxury is changing”

The Firm has launched the 2019 edition of its Global Legal Guide for Luxury & Fashion Companies. This guide, published by Thomson Reuters, shares insights from more than 200 Baker McKenzie lawyers and economists, and provides country-specific knowledge on this rapidly expanding industry. Baker McKenzie Partner Marc Levey, who edited and co-authored the guide, said “Luxury is changing. The definition of luxury now transcends traditional clothing and accessories to encompass everything from automobiles, dining, hotels and travel, to generally unique experiences - and so with this comes a new wave of deals, dilemmas and indeed opportunities, which all reflect this changing landscape.” Mr Levy added,  “It is with this in mind that we are delighted to be able to contribute to the conversation, and guide our clients on how to navigate these challenges and opportunities.”

Intellectual property

Given today is WIPO’s Intellectual Property Day 2019, IP protections are certainly key but the guide also offers advice on what it takes for luxury and fashion companies to thrive in the 21st century, and includes practical insights and guidance on a range of areas, including IP planning, social media, online sales alternative distribution models, general data privacy regulations, tax, transfer pricing, merger and acquisition transactions, government and supply-chain compliance, FCPA, negotiating leases for stores, resolution of disputes, employment matters, customs and trade issues in global brands, and competition and antitrust issues. The guide can be found here.