Gain a better understanding of the luxury market. Find out the latest news from the luxury business sectors – openings, launches, financial situations, buyings.
The debt crisis “will definitely have an impact on consumption” of luxury goods Luxury-goods companies should brace for weaker growth in 2012 as Europe’s sovereign debt crisis leads to a slowdown in spending, according to Gianluca Brozzetti, chief executive officer for designer Roberto Cavalli. “To say it won’t have an effect is madness,” Brozzetti … Read more
Across Europe, two in five people (40%) now shop online – and it is men not women that are driving the charge into internet purchases – according to a new study by CB Richard Ellis (CBRE). At a time when there is an unprecedented level of consumer access to the internet across Europe, CBRE’s study … Read more
Hermes says buying power of luxury clients unchanged French luxury goods maker Hermes sees no sign yet of affluent buyers tightening their purse strings in spite of a somber global economic outlook, the head of the brand said at Paris Fashion Week. The luxury goods industry continues to grow at a solid pace thanks to … Read more
MILLENIUM STAR: the most precious fabric in the world Three fine thread of 1/330’s Giza 45 cotton, the most valuable in the world were united by David & John Anderson (founded 1822) to form one yarn of 3/330’s: the most precious in the world, thanks to the work in triple-fold, a sophisticated technique which confers … Read more
Qatar now world’s richest nation, says IMF Qatar, the world’s largest exporter of liquefied natural gas, surpassed Luxembourg as the world’s richest nation in 2010, according to the latest estimates from the International Monetary Fund. The IMF estimates the Gulf nation will have the world’s fastest-growing economy for a second year. Qatar has a population … Read more
Tom Ford opens women’s store in luxury-loving Russia Fashion designer Tom Ford has opened his first women’s clothes store in Moscow, giving a confidence boost to Russia’s reviving luxury goods market. The 50-year-old Ford said he was not phased by the prospects of another economic recession in Russia, which previously ranked as the fourth-largest buyer … Read more