Gain a better understanding of the luxury market. Find out the latest news from the luxury business sectors – openings, launches, financial situations, buyings.
According to news weekly Der Spiegel and AFP, the Europe’s biggest automaker Volkswagen, which owns 49.9 percent of Porsche, may buy the 50.1-percent stake in the manufacturer of the iconic 911 car for 3.9 billion euros ($5.0 billion) in 2012. Porsche has built up massive debts as it looked to seal a tie-up with VW … Read more
Entrepreneurs are simply those who understand that there is little difference between obstacle and opportunity and are able to turn both to their advantage. (Niccolo Machiavelli) Greece needs every euro it can get. The country’s public coffers are drained and the nation is struggling to avoid a historic debt default in March. The money can … Read more
Chinese liquor brand Moutai was recently included in a list of the top 10 “Gifts for the Chinese Luxury Consumer“, a list compiled by the Shanghai-based research group Hurun, as part of its annual “Best of the Best” awards. Moutai held the fifth position behind the likes of Louis Vuitton, Cartier, Hermes and Chanel. The … Read more
World’s Top 100 Most Valuable Luxury Brands World Luxury Association’s official report on 2012 shows that China has become the world’s largest consumer of luxury goods. The report predicts: With the phenomenon of RMB appreciation and depreciation of the Euro and the number of Chinese traveling to Europe in 2012, total consumption of luxury goods … Read more
South Korea’s Samsung Group announced it would invest a record 47.8 trillion won ($41.56 billion) in 2012 and hire an all-time high of 26,000 new employees despite global economic gloom. The country’s largest conglomerate said in a AFP statement that despite the worldwide uncertainty it wants to expand future growth engines and contribute to the … Read more
Dior has yet to name a new chief designer — but sales are booming At Paris Fashion Week in September, Christian Dior‘s chief executive Sidney Toledano batted away questions about Galliano‘s succession, saying the fashion house would take the time it needs to find the right fit. Dior posted in October a turnover of 705 … Read more