Business
Gain a better understanding of the luxury market. Find out the latest news from the luxury business sectors – openings, launches, financial situations, buyings.
The pandemic’s spread to Western markets has worsened Burberry outlook
The material negative effect of COVID-19 on luxury demand has intensified and is now impacting the industry in all regions. Burberry warns of plunging sales as number of shops shut. Coronavirus caused retails spaces to shut and demand for luxury goods to dry up. Given the ongoing escalation of the COVID-19 pandemic, British … Read more
#StayAtHome: Luxury sports car manufacturers plan production-free period
Porsche and Rolls-Royce follow into the footsteps of Ferrari and Lamborghini and announced stop production due to the Coronavirus (Covid-19). As from the coming week, Porsche will suspend production for an initial period of two weeks. By taking this step, the sports car manufacturer is responding to the significant acceleration in the rate … Read more
Luxury brands announce temporary pauses of global operations to reduce the spread of COVID- 19 (coronavirus)
In a proactive response to the unpredictable circumstances evolving from the global spread of COVID-19 (coronavirus) and in an abundance of caution, a series of luxury brands announced that they will voluntarily pause global operations. Rolex is shutting down three factories in Switzerland, while MGM Resorts shuts down all operations in … Read more
Coronavirus: travel companies allow trips to be postponed free of charge
Tour operators relax their policies to encourage bookings as industry faces unprecedented challenge
Sotheby’s International Realty opens brand’s first office in Ukraine
The luxury market in Ukraine is experiencing gradual growth and retains its share of high-net-worth individuals. The post-soviet country offers diverse cultural influences, popular summer destinations, a rich heritage, and now the first Sotheby’s International Realty affiliated office. Sotheby’s International Realty Opens First Office in Ukraine. Sotheby’s International Realty Affiliates announced that InRealtyOU … Read more