Gain a better understanding of the luxury market. Find out the latest news from the luxury business sectors – openings, launches, financial situations, buyings.
The market for so-called super-yachts is still buoyant in Middle East The last Dubai Yacht Show, Middle East’s biggest boat show, proved that the luxury yachts continue to grow more super. “We’ve never sold as many super yachts as in the last three years,” Erwin Bamps, chief operating officer of Gulf Craft told the BBC quoted by … Read more
According to The European Fine Art Foundation (TEFAF), in 2011 China finally overtook the United States to become the world’s largest art and antiques market in terms of auction and dealer sales, reports BBC. China’s art auction market generated US$60.8 billion and accounted for 30 percent global market share. The US dropped into second place last year with … Read more
The rise of the super-rich in the BRIC countries, India’s terrible roads and nightmare traffic led to a high helicopter demand in India. That’s despite the cost of $1.5 million to $15 million per chopper. A joint venture of AgustaWestland and Tata announced that they’re building a new helicopter factory in Hyderbad to keep up … Read more
Foreign millionaires fled Zurich after tax change Two years after scrapping special tax breaks, the region of Zurich has lost nearly half its foreign millionaires. Of the 201 foreign residents who benefited from the tax breaks which the canton scrapped in early 2009, 97 have decamped to more favourable tax regimes, the region’s tax services … Read more
Baselworld 2012 (March 8th to 15th 2012 ) followed on from an excellent year that saw 29.8 million watches exported representing a total value of 19.3 billion Swiss francs. A unique and yet fairly logical economic case, since demand for luxury products continues to increase and the potential of certain emerging markets, including Asia and … Read more
Vivre à la française: Qatar Holding investment in LVMH raised at 1.03% Sovereign wealth fund Qatar Holding made a new investment in French luxury sector. The gas-rich emirate which has a participation in London department store Harrods, aquired a stake of slightly more than 1% in French luxury goods group LVMH Louis Vuitton Moet Hennessy. … Read more