Gain a better understanding of the luxury market. Find out the latest news from the luxury business sectors – openings, launches, financial situations, buyings.
Steep taxes on luxury goods in China forced Chinese shoppers to head overseas to pick up the latest fashions or other luxury items. Chinese consumers traveled also because they had a wider choice of goods available overseas. A recent survey by business research and consulting firm Frost & Sullivan quoted by AFP has predicted that … Read more
London Luxury-Home Prices Rise as Foreign Buyers Seek Haven Luxury-home prices in central London gained for the 15th consecutive month in January as overseas investors seeking to protect their wealth competed for the few properties for sale, the London-based broker Knight Frank LLP said to Bloomberg. Values of houses and apartments costing an average of … Read more
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