Ritz-Carlton Hotel Company opened its first hotel in Riyadh, Saudi Arabia. This is the 77th hotel in the world and eighth in the Gulf region. The palatial hotel, with 493 rooms and suites, is prominently situated next to the Diplomatic Quarter and adjacent to the King Abdul Aziz Convention Centre, one of the largest in … Read more
Worldwide luxury goods market poised to surge 10 percent in 2011 as growth in China and mature markets increases, according to newly-released 10th edition of Bain & Company’s luxury goods worldwide market study. Global luxury goods sales have continued 2010’s double-digit growth trajectory and will see an increase of 10 percent, to €191 billion in … Read more
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
Giorgio Armani unveiled a new collection inspired by mother of pearl colours and the undulation of waves at Milan Fashion Week last week, reprising Versace’s modern mermaids outfits. Giorgio Armani spring/summer 2012 designs had a shimmering quality that turned the fashion show into a maritime scene on a silvery night with shoals of fish swimming … Read more
Dolce & Gabbana plans to launch a collection of jewelry Dolce & Gabbana plans to launch a collection of jewelry with prices as high as $20,000 or so for a necklace, a sign that the fashion house has been refocusing its efforts on the high end of the luxury industry. Using diamonds, rubies, black jade … Read more
With the occasion of Milan Fashion Week, Patrizio Bertelli, CEO of PRADA announced his company will set up a training school for youngsters wishing to pursue craftsmen careers and become artisans. The training school which will be launched in 2012 is a continuation of Prada’s continuous efforts to maintain the unique Italian craftsmanship, as a … Read more