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
Luxury brands stalk Bond’s outfitter Suitors are stalking luxury Italian brand Brioni – known for dressing James Bond 007 and presidents including Barack Obama. Zegna, an Italian luxury brand, PPR, one of France’s biggest luxury houses, and Eurazeo, the French private-equity firm, are all known to have had recent talks with the Bond suit-maker about … 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
Financial markets may have turned sour but well-heeled consumers, especially in Asia, are still thirsty for renowned top quality wines, such as Italy’s most expensive red Masseto, its makers say. Fine wines with prices starting at triple digits have become brands like top watches or cars, whose high quality and wide brand recognition give … 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
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