Tag: Luxury Industry
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Guerlain spa at the Ritz-Carlton’s first hotel in Austria
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…
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Saks Fifth Avenue OFF 5TH Store Opening in Westbury
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…
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Chinese buying more luxury goods in mainland China
Chinese buying more luxury goods at home: survey Chinese shoppers are increasingly buying luxury goods in mainland China, turning away from high-end stores abroad and in Hong Kong, according to a poll by market research firm Ipsos, cited by AFP. The poll found that Chinese buyers preferred to shop on the mainland for luxury…
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LVMH reports an increase of 26% in the first half revenue
LVMH Moët Hennessy Louis Vuitton, the world’s leading luxury products group, recorded revenue of €13 billion in the first half 2012, an increase of 26%. Organic revenue growth was 12%. “All business groups contributed to this performance, which is even more remarkable coming on top of the strong growth in first half of 2011. The…
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Louis Vuitton opens jewelry store in Paris
As global jewellery market is set to grow faster than other luxury industries, Louis Vuitton is expanding its jewelry segment with a dedicated store on Paris’ Place Vendome, the Heart and Soul of High Jewellery. The new Paris store will sell both mid-range items, from as little as 650 euros ($820), to diamond and sapphire-encrusted…
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The European luxury sector – a model for sustainable growth. Study
European Commission Vice-President Antonio Tajani announces a political action plan to ensure the competitiveness of the sector The European luxury sector is a key driver for European jobs and competitiveness revealed a study by Frontier Economics. The study was commissioned by European Cultural and Creative Industries Alliance (ECCIA), the European Cultural and Creative Industries Alliance, composed of…