Interviewed by the French daily Le Figaro, Patrick Thomas, the CEO of French luxury brand HERMES, did not appear surprised by the recently reported 8,9 % growth of the company's turnover in 2009. When asked about the source of the exceptional result,especially considering the economic environment, Mr Thomas explained the brand relies on the high degree of loyalty of its customers which value the ... read more

During an inteview to the American media, Mr Ralph Lauren has expressed joy over the expansion of its existing lines, the Purple line being one of the key lines. The annoucement comes at the same time with the positive financial results also annouced this week. Mr Lauren also spoke about the growing success of RLX, an entire line dedicated to the anti-luxury consumer target which has been growing especially ... read more

VENTE-PRIVEE, the number one French luxury online retailer annouces a 25% growth expectation for 2010. After conquering France, the e-store has been making advances in Germany, UK, Italy and Spain. Turnover for 2010 will exceed EUR 850 million and the company is likely to focus on its existing key markets. The largest e-store for luxury goods in Europe is UK's NET-A-PORTER which covers deliveries all over ... read more

Since becoming CEO of Versace SpA in 2009, Gian Giacomo Ferraris has been pursuing relentlessly the restrutcuring plan of the Italian group which registered losses of EUR 30 million in 2009. After closing all its stores in Japan, Versace SpA will also shut down its accessories factory in Burago near Milan laying off more than 350 employees. The general restructuring plan includes laying off 1300 ... read more

After the opening last month of a 600 sqm store in Venice, BURBERRY is preparing the opening of its second Paris location at the end of this month on the chic St Germain District. While the Venice store includes all lines, the Paris boutique will provide a selective mix of the Burberry lines. Both stores are directly operated and owned by the British brand. Mid March 2010, Burberry is opening its fourth store ... read more

TOD'S Group confirmed this week its 2009 sales were up 0,8 % compared to 2008. The positive results have been driven by its strong sales of shoes in Italy and Asia, which have grown by 5,5% and 7,5% respectively. The rest of Europe and USA registered negative results, sales dropping by 6,4% and 6,5% respectively. Considering the current economic conditions, TOD'S feable sales increase may be seen as an ... read more

The recently concluded men's Paris shows have brought the first concrete signs of recovery from the crisis for the battled luxury fashion sector, buyers placing orders 15% higher than previously. Lavin, Balenciaga, Louis Vuitton, Raf Simons, Rick Owens, Christian Dior, Comme des Garcons have been particularly praised for delivering wearable and salable collections, thus responding to a tough ... read more

For the firs time since 1929, five of the top luxury jewellers with flagship stores in Paris' Place Vendome took to the catwalks last week during the Paris Haute Couture fashion week. The international crisis has only only forced luxury jewellers to develop cheaper lines but also to change their advertising strategies. Some of the top jewellery brands which took part in the catwalk shows: Van Cleef ... read more

In its final stages of completion, the project which was supposed to open as COCOR LUXURY STORE is set to become a mass market shopping center. COCOR is a former communist department store which has undergone extensive renovations including a spectacular media facade during the past two year. The current economic crisis have made it impossible for COCOR to attract luxury brands, neither individually, ... read more

Since the spectacular art project developed in South Korea in 2009, PRADA has only been making headlines with its financial difficulties - banks reluctant to restructure the almost EUR 1 billion financing and rumours of a take over by the Qatar Royal family and Richemont Group. Of these news, a possible take over by Richemont Group has been making headlines since the beginning of 2010. Although ... read more

The new year seems is finally bringing some good news for the troubled luxury industry with BURBERRY and RICHEMONT GROUP reporting better than expected results. BURBERRY turnover rose by12% to GBP 380 million (EUR 433 million) for the period of October - December 2009. Analysts initially predicted an average 3% growth for the period and the actual increase has been of 5%. The world's second luxury ... read more

According to a research by Boston Consulting Group quoted by the Financial Times, 34% of wealthy Russians cut their spending budgets on luxury goods in one or more categories in 2009. The percentage is by 11% higher than in 2008 which sends worrying signals regarding the solidity of the Russian luxury goods market. The same study also reveals more than half of wealthy Russians are likely to cut their ... read more

In an interview to Italian daily Corriere de la Serra, Mr Giorgio Armani, now 75, firmly denies any intentions to sell his company, despite mounting rumours about his health which has kept him away from the media spot in the past three months. He clearly stated that as long as he felt healthy, he would like to remain involved in every aspect of his business and he has no desire or need to sell. The most ... read more

Despite the current crisis, the French capital claims its top spot for new luxury hotels worldwide, with three major deluxe openings: MANDARIN ORIENTAL, SHANGRI LA and RAFFLES. Paris is the European capital which has held a constant pricing among its deluxe hotels during 2009 at an average of EUR 600/night(single), while other major European capitals have cut prices. Plaza Athenee Hotel of The ... read more

Despite the unfolding crisis, 2009 has been a very dynamic year for Giorgio Armani SpA having opened 2 monobrand franchised stores of EMPORIO ARMANI (Warsaw and Budapest) and signing 2 agreements for openings in Belgrade and Bucharest. Distribution of the first line Giorgio Armani remains very limited. As CPP has expressed on several occasions in 2009, this is a very risky strategy taken by Giorgio ... read more

During the month of December 2009, CPP Management Consultants Ltd, sole Central and Eastern European luxury industry consultancy, has conducted a thorough research of the Slovenian luxury market with the aim of identifying its potential. CPP's Luxury Market Review Slovenia includes an analysis of all luxury market segments in Slovenia - hospitality, fashion, accessories, jewelry & watches, ... read more

For the first time in its history, the HERMES Group launches a new brand with a dedicated line of products. The new brand called SHANG XIA will be launched in China and will have its own identity with products made from materials and design rooted in the Chinese traditions. The move comes as a strategy of HERMES to take advantage of the Chinese luxury market boom in 2010 therefore proposing a new brand with ... read more

While five star hotels in other capital cities (Vienna, Rome etc) are taking one star off their rating due to the need to reposition because of the economic crisis, Paris luxury hotels are aiming higher. France's luxury hotels say they need to reach for just one more. The world's largest tourism destination has introduced a five-star category to its hotel ranking system and the country's gilded ... read more

Michael Burke, CEO of FENDI confirmed in a recent interview the relaunch in 2010 of the men's line which was stopped earlier this year. Following the success of the F Factory cultural and commercial temporary concept in Miami, FENDI will carry the concept in most of its flagship stores. The F Factory concept will focus on one-off bespoke products aimed at briging new effervescence to the Fendi stores. Mr ... read more

In a recent interview, Mr Yves Carcelle, CEO of Louis Vuitton has outlined his company's future development strategy. After having recently opened in Mongolia, the first half of 2010 will see openings of Vuitton in Beirut (Lebanon), Helsinki (Finland), and Santo Domingo (Dominican Republic). India plays an important part in Vuitton's strategy with 2 new openings in 2010 in Mumbai, one at Taj ... read more