Gain a better understanding of the luxury market. Find out the latest news from the luxury business sectors – openings, launches, financial situations, buyings.
Brunello Cucinelli Files for IPO in Milan Cashmere maker follows peer Salvatore Ferragamo, which listed its stock in Milan on June 29. Brunello Cucinelli, founder and owner of the company, said he had filed a request with regulators to list a third of his company’s stock in Milan despite the difficult market conditions that have … Read more
French luxury group Hermès plans to open a shop of its brand “Shang Xia” in the district of Saint-Germain-des-Prés by the end of the year. To date, the brand operates in Shanghai where it was launched in late 2010. Shang Xia in Paris will open at a highly prized strategic location, not to disorient the … Read more
As part of an attempt to tackle upscale competitors such as Crowne Plaza, Westin will make over gyms and fitness centers at all of its 186 properties this year. As part of the scheme, Westin will become the first hotel chain to use ActiViva lighting, fluorescent tube designed by lighting giant Philips which contains a … Read more
Auction houses outfox Chinese antiquity fakers The demand for Chinese antiquities has exploded, helping propel Hong Kong to third spot in the global auction market behind London and New York. Auction houses Sotheby’s and Christie’s together raised over $460 million from sales of Chinese antiquities and art works last year, but the market has also … Read more
Why luxury buyers stay with a brand—and why they leave for another luxury brand: study Primary drivers of loyalty differed by brand Loyalty Differences by Gender and Age The 2012 New Luxury Vehicle Loyalty Study examines why luxury buyers stay with a brand—and why they leave for another luxury brand. According to the 2012 New … Read more
Starwood to win greater share from the world’s most prolific travellers Hotel Loyalty Landscape reinvetad With First-Of-Its-Kind Benefits Starwood hotel chain developed new set of benefits aimed at its elite Members, those two percent of travellers that drive 30 percent of Starwood’s profits. Starwood Hotels & Resorts Worldwide announced new benefits that make its award … Read more