SUNDAY TIMES reports that the wealth of the Britains' 1.000 richest has risen by 30% in the past year, the richest man Indian tycoon Lakshmi Mittal almost trippled his fortune which reached a staggering GBP 22,5 billion. Richard Branson made a spectacular leap to the Top 100. British media has been publishing negative reviews and analysis insisting that the combined wealth of the 1.000 wealthiest in ... read more

It has come to us as a great surprise that top wealthy Romanians, namely Dinu Patriciu (one of the 10 billionaire in the entire Central and Eastern European region) and George Copos (among the top 20 in the Capital 300 and Forbes 500 rankings) have expressed their disapproval of a satire documentary film which was launched yesterday. They have expressed their anger in media as well as their blogs as to ... read more

ROLEX has recently unveiled a new advertising campaign featuring MICHAEL BUBLE, its youngest brand ambassador, also known as the ''new Frank Sinatra'', with a unique voice and music which reaches both young generations and more mature ones. Other famous ROLEX ambassadors: Cecilia Bartoli, Placido Domingo, Diana Krall and Rolando Villazon. Rolex, along with Mandarin Oriental Hotels ('Fans of ... read more

American luxury brand COACH, which specializes in leather accessories has signed an agreement with French department store chain PRINTEMPS, to develop up to 14 stores within their major stores. PRINTEMPS has been expanding internationally with franchised operations. COACH has been a market leader in USA and Japan, following closely its direct competitor Louis Vuitton. However, in Europe, COACH ... read more

Despite the international crisis and its delayed membership acceptance into the E.U., Turkey's economy has been booming, especially due to its industrial output as well as its natural reserves. Turkish Airlines is one of three international airlines which have grown during the current crisis, expanding constinuously its fleet and destination reach. Turkey's strong economic ties with its neighbours, ... read more

An important delegation of the Italian Government visited last week Ulan Bator, the capital of Mongolia to review current business investment opportunities. The delegation also comprised of several major Italian companies. Mongolia has been attracting investments in its textile industry, especially due to the very low production costs as well as the quality of manufacturing. ... read more

With the occasion of the International Furniture Fair (Salone Internazionale del Mobile), which is taking place these days in Milan Mr Giorgio Armani has launched two new ARMANI CASA lines, one dedicated to bathroom (developed jointly with ROCA) and kitchen (developed with DADA). He stole the limelight by annoucing the opening of the new ARMANI CASA showroom which covers 1.600 sqm in Milan's Via Sant ... read more

The 200 room SHANGRI LA Istanbul will be built in the central district of Besiktas and will aim at being listed among the top ten luxury hotels worldwide. The hotel will be developed as a partnership between Tanriverdi company, owners of the land and the Hong Kong based Shangri La Group. The investment is estimated at EUR 250 million. Shangri La will open this year two important properties in Vienna and ... read more

Following in the steps of Versace, Missoni, Salvatore Ferragamo and Armani, LVMH Group, the world's largest luxury conglomerate is launching its own luxury hotel brand CHEVAL BLANC, inspired by the concept the group owns in the French ski resort of Courchevel. The first properties will be developed in Egypt and Oman, yet the entire investment will be supported by Orascom, one of the largest holding ... read more

In 2007, Italian Fiscal authorities formally accused Dolce Gabbana SpA for fiscal fraud and embezzlement the damages amounting to EUR 700 million. In order to pay less taxes, Dolce Gabbana SpA established a company in Luxembourg and conducted all major operations through this company. Since 2007, the legal proceedures in Italian courts and authorities have been undergoing various bureaucratic ... read more

French luxury goods firm Hermes has announced that it will be launching a collection of fine jewelry with accessories designer Pierre Hardy. The 14 piece collection of "haute joaillerie" was inspired by the shape of a horse’s hoof to keep with the fashion house’s equestrian roots. Prices range from $23,675 for a pair of rose gold and black jade earrings to $880,000 for a diamond necklace. ... read more

In an interview to Spanish media, Philippe Schaus, Executive Vice President of LOUIS VUITTON confirmed the brand's commitment to further develop in Spain, a market which he considers as having good potential for development. Vuitton opened recently a store in Bilbao and possible future locations are to be opened in cities such as Sevilla, Palma de Mallorca, San Sebastian and Zaragoza. In the interview he ... read more

DAIMLER CHRYSLER Group, of which MERCEDES BENZ is a member company pleaded guilty to violations of the U.S. Foreign Corrupt Practices Act as part of an agreement with prosecutors to resolve allegations that the German carmaker paid bribes to foreign officials. Lawyers for the units, DaimlerChrysler Automotive Russia in Moscow and Daimler Export and Trade Finance in Berlin, entered the pleas Thursday ... read more

Cashmere speacialist Brunello Cucinelli registered in 2009 a turnover of EUR 154,69 an increase of 7,53% compared with 2008. The net profit has been at EUR 8,82, an increase of 11,22% compared with the 2008. Fashionmag This proves once again that luxury brands which make no compromise on quality and which remain focused on their heritage are not only going to overcome the crisis but will also advance in ... read more

CHANEL is unique. It is one of the top most respected, admired and envied luxury international brands. It not only has a huge heritage connected to the Goddess of fashion Coco Chanel but is also a testimony that an independent luxury brand can remain independent. CHANEL is a luxury brand which is included in a category of its own. It can't be even compared with brands such as Hermes, let alone Dior which, ... read more

Ukraine, three years ago, the fifth most dynamic and fast growing luxury market worlwide after China, Brazil, Russia and Mexico, is showing first signs of recovery in more than 11 months when the sales dropped by 30 to 40% in retail, 30% hospitality and more than 50% in cars. According to CPP Management Consultants Ltd, March 2010 sales are reported to have increased and stabilized, especially in retail ... read more

Cuts in intventory by many of its distributors are to be blamed for a negative full year profit at French luxury brand HERMES, the company CEO announced this week. Hermes opened 14 stores in 2009 and has confirmed the opening of 12 more stores this year. CPP's Oliver Petcu reckons that pressure from its shareholders as well as direct competition with Louis Vuitton and Gucci result in Hermes abandoning ... read more

Following the short films launched by Prada online during the past two seasons, the Italian luxury fashion brand has launched this week a capsule collection of sunglasses with a dedicated online site which features short stories told on postcards and available in 9 languages. The campaign was shot by Steven Meisel and the site also features special soundtracks by Frederic Sachez. ... read more

Google Inc. won a key European Union court ruling Tuesday that says it did not violate luxury goods trademarks by allowing counterfeiters to buy brand names as advertising key words that link to their online stores. The world's most used search engine won some legal protection against future claims after the EU's highest legal authority said it could not be held liable for advertisers' requests to place ... read more

American jeweller TIFFANY's reported this week a 25% increase in sales in the fourth quarter of 2009. Sales have been particularly strong in South America and Asia, lead by China and South Korea. TIFFANY's has weathered the crisis very well by wideing its price point on collections.Tiffany's profit in the fourfth quarter was USD 140 million. ... read more