Gain a better understanding of the luxury market. Find out the latest news from the luxury business sectors – openings, launches, financial situations, buyings.
Hermes Wins $100 Million Damages From Counterfeit Websites Hermes wins a lawsuit against 34 websites that sold fake copies of its luxury goods. The judgment includes $100 million in damages. The websites, which didn’t defend themselves in court, sold items that infringed upon at least nine Hermes products including Birkin and Kelly handbags, wallets, watches, belts … Read more
Strong first quarter: Daimler increases Group EBIT to €2.1 billion Daimler AG achieved EBIT of €2,130 million in the first quarter of 2012, which is slightly higher than the high prior-year level (Q1 2011: €2,031 million). Net profit increased by 20% to €1,416 million (Q1 2011: €1,180 million). “We have started the year with a … Read more
Nokia in talks to sell luxury Vertu unit-source Last December, Nokia, once the world’s dominant mobile phone provider, unveiled its plans to dispose of “non-core assets” and signalled its intention to sell the luxury arm Vertu. The cellphone maker talks with private equity group Permira were at an advanced stage on a possible sale which … Read more
Scheduled to Open in 2015, the new Sheraton Erbil Hotel Marks Starwood’s Return to Iraq Starwood Hotels and Resorts Worldwide will re-entry in Iraq after 20 years. Starwood Hotels and Resorts Worldwide has signed an agreement with BCD Co. to manage a new-build Sheraton hotel in Erbil, Iraq. The Sheraton Erbil Hotel is situated along … Read more
Marriott International’s first 2 hotels in Macau announced Marriott International and Galaxy Entertainment Group Announce the Ritz-Carlton and JW Marriott Hotels in Macau. The two companies announced they have signed long-term management agreements for more than 1,300 rooms, suites and floating villas at two landmark luxury hotels operated by Marriott International brands to anchor the … Read more
Baccarat New York to marry modern European glamour with architecture and design from The Museum of Modern Art. Starwood Capital private investment group has unveiled Baccarat Hotels & Residences luxury hotel brand. The brand has been created to fill a niche in the very top of the upscale hotel market and bears the revered … Read more