Interbrand Releases 13th Annual Best Global Brands Report Despite the current economic landscape, all of the luxury brands in the 13th annual Best Global Brands report released by Interbrand increased their brand value. As the meaning of luxury shifts, this year’s top luxury brands reflect a changing global consciousness – with success dependent not … Read more
Luxury Remains Resilient in the Face of Economic Turbulence Affordable luxury – important ballast to growth in cash-strapped developed markets Driven mainly by strength in emerging economies, overall retail growth in 2012 is set to be stronger than in 2011, with luxury goods sales expected to exceed US$302 billion worldwide. This represents a year-on-year real … Read more
The European Commission recognizes the strategic importance of the high-end industries Important days for Europe’s luxury sector. The European Commission has adopted “Cultural and Creative Sectors for creative growth in the EU” political action plan. This policy strategy qualifies cultural and creative business models, such as the luxury industry, as strategic sectors for European growth … Read more
Global Luxury Goods Industry to Generate Additional US$74 Billion in New Sales by 2017 Despite the global volatile economic outlook, the luxury goods market continues to prove resilient, according to the new luxury market research from Euromonitor International, one of the world’s leading provider for global business intelligence and strategic market analysis. In 2012, the … Read more
New luxury hotels are blooming in Vienna. Palais Hansen Kempinski Vienna will open next spring, while the Park Hyatt Vienna is scheduled to open late in 2013. The latest grand opening is brought to the historical city by Ritz-Carlton. The 202-room Ritz-Carlton Vienna hotel opened at the end of the August is company’s first hotel … Read more
Saks Incorporated’s Saks Fifth Avenue OFF 5TH opened its doors in Garden City, NY. The new store is located in the Gallery at Westbury Plaza, which opened in August, and will be featured among a variety of premier retailers and restaurants, including The Container Store, Shake Shack, and Trader Joes. The store will be remodeled … Read more