Gain a better understanding of the luxury market. Find out the latest news from the luxury business sectors – openings, launches, financial situations, buyings.
Shard celebrates completion of exterior work Europe’s tallest building, the Shard, is being officially unveiled in central London. The 309.6-metre skyscraper is joint-owned by the state of Qatar and the Sellar Property Group and was funded by the Qatar National Bank. The Shard is an iconic, landmark building on the London skyline, designed by … Read more
Valentino fashion house was sold to a sovereign wealth fund for €600 million. The current deal, which will separate the Valentino brand from Hugo Boss, will see the design house sold to one of Permira‘s investors,according to brisbanetimes. The fund has not been identified. In 2011, Valentino had sales of €322.4 million, up 20 per … Read more
Louis Vuitton celebrates two decades in China with two grandiose projects: a journey of the Louis Vuitton Express from Paris to Shanghai and the opening of 16th Maison worldwide in Shanghai’s Plaza 66. Photographer, blogger and fashion celebrity Todd Selby have teamed up with the luxury house for a video following the path of the … Read more
In an economy that’s barely expanding, France presages larger tax increases and spending cuts next year. France’s Socialist government unveiled 7.2 billion euros ($9 billion) of tax increases to meet deficit-reduction goals and avoid bond-market punishment, according to bloomberg. The largest new levy will be a one-time surcharge on wealthy individuals’ assets to raise 2.3 billion … Read more
As global jewellery market is set to grow faster than other luxury industries, Louis Vuitton is expanding its jewelry segment with a dedicated store on Paris’ Place Vendome, the Heart and Soul of High Jewellery. The new Paris store will sell both mid-range items, from as little as 650 euros ($820), to diamond and sapphire-encrusted … Read more
Airbus to establish first assembly line in United States In a major strategic announcement, Airbus said it will establish a manufacturing facility in the United States to assemble and deliver A320 Family aircraft. Located at the Brookley Aeroplex in Mobile, Alabama, it will be the company’s first U.S.-based production facility. The facility in Alabama will … Read more