VERSACE Group celebrated this week the opening of three stores in Dubai - a flagship of 600 sqm, a jewelry store and a home collection store. The stores are open within the prestigious DUBAI MALL. This comes as positive news for the Italian group currently under restructuring. As early as 2 months ago Versace closed all its shops in Japan. ... read more

Giorgio Armani SpA will open its first monobrand store dedicated to the EMPORIO ARMANI line in Serbia in September 2010. The EMPORIO ARMANI store will be opened in the Serbian capital of Belgrade in a downtown highstreet location. The operation will be through a local franchisee. As anticipated by CPP Management Consultants Ltd earlier this year, the Serbian luxury market has been developing despite ... read more

A recent survey conducted by CPP Management Consultants Ltd among the major real estate brokers in the Central and Eastern European markets, revealed that major high street rents have dropped by up to 50% in the past 9 months compared to last year. CPP has focused specifically on the highstreets which concentrate the majority of luxury shops in the respective capital city. BUCHAREST Calea Victoriei - ... read more

In an interview to the French media, Gildo Zegna, CEO of the ZEGNA Group annouced that two thirds of the investments of the company are directed towards Brazil and Asia, area which show tremendous growth for the Italian brands. Mr Zegna also explained that the company is successfully countering the effects of the crisis by reducing the working hours and limiting the debt of the company. He also added ... read more

According to a survey conducted by CPP Management Consultants Ltd, sole Central and Eastern European consultancy specialized in luxury, the Turkish luxury market sales have dropped by 15% in the first nine months of 2009 compared to the same period last year, the two most affected products being luxury watches and jewelry (renown brands) as well as fashion apparel. The Christmas season is expected to ... read more

The first shop of the Swiss leather luxury brand BALLY opened in 2004 in Bucharest (monobrand franchise), on Mosilor Avenue and closed less than one year later. The second BALLY shop in Bucharest had the same fate, opening early 2008 and closing in less than one year. Bally is now distributed in Bucharest in small multibrand together with mid level and mass market brands such as Mandarina Duck. It seems ... read more

British luxury brand BURBERRY will open its first monobrand store in Serbia in the capital of Belgrade. Already present in Belgrade for almost one year with a shop in shop within a luxury multibrand store, BURBERRY will open a monobrand franchised store in a highstreet location of over 300 sqm downtown Belgrade in March 2010. ... read more

Shoppers have queued for hours on the launching day of JIMMY CHOO's collection of shoes for H&M. The collection is avaialble at 200 select H&M stores worldwide and it already looks like a huge success. Customers are now able to buy a pair of Jimmy Choo's at EUR 70, instead of EUR 700 in the regular. Oliver Petcu of CPP Management Consultants Ltd believes this venture is likely to be successful for ... read more

According to the figures reported to the Romanian fiscal authorities, LOUIS VUITTON registered a turnover of EUR 2,9 million in 2008. The directly operated store which was opened early 2008, covers a surface of less than 200 sqm within the shopping gallery of the JW Marriott Hotel in the capital city of Bucharest. Results are impressive considering the relatively small surface of the store and also the ... read more

Earlier this week, Giorgio Armani attended a press conference as well as 2 fashion shows in the Russian capital. Giorgio Armani is the first major designer to visit Moscow since the debut of the international crisis. He expressed his confidence in the recovery of the Russian market. Mr John Hooks, VP of Armani also confirmed that the worst was over and the Italian brand has identified growth opportunities ... read more

MOSCHINO Hotel opens in Milan at the end of this month. The hotel is located in the trendy area of Porta Nuova, on Via Montegrappa, within the building which was formerly occupied by a railway station. Located on four floors, each of the 58 rooms and 7 suites are an individual interpretation of a dream like environment. On the ground floor, the entrance hall and bar usher visitors into the new, fun, ... read more

For the Q3, sales of giantLVMH have dropped by only 3% in comparison with the decrease of 7% in the first quarter of 2009. The turnover of the group for the first 9 months of 2009 remained stable at EUR 11,9 billion. Fashion and leather goods are the only sectors to register increased sales.Louis Vuitton, the leading brand of the LVMH group reported a 1,5% increase in its sales for the 3Q of 2009. Watches ... read more

Best known for its high technology, waterproof jackets, BELSTAFF opens in December this year a monobrand store on highstreet Calea Victoriei in Bucharest, Romania. The store covers a surface of 120 sqm and it is developed by a local franchisee, a private company of 2 young Romanian entrepreneurs. Originating from England, BELSTAFF is owned by Italian CLOTHING COMPANY and nowadays produces a wide range ... read more

German carmaker Audi is set to sell more vehicles worldwide than luxury rival Mercedes for the first time ever next year, according a new study released on Monday.

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GUCCI annouced this week the launching of a social networking microsite aimed at consumers 18 to 25 year old. GucciEyeWeb.com invites youngsters from all over the world to post their photos and visualize themselves in a 3D format wearing various sunglasses. Users will also be able to switch among cities such as London, Milan, Tokyo, Paris, New York or Berlin to see what their friends in each place are ... read more

Amid the unfolding international crisis, GIORGIO ARMANI continues its dynamic development strategy, blending diversification with a clever branding strategy. From the Armani / Molteni kitchen launched this summer to the announced opening of the first Armani Hotel in Dubai this December, the Armani Group continues to make headlines nowadays by signing on international football superstar Christiano ... read more

United Arab Emirates Sheikh Hassan Ben Ali al-Naimi made a formal offer on Thursday to take over Christian Lacroix, four months after the French couture house filed for bankruptcy, the firm's administrator said. The offer presented to a competition tribunal for approval was made "in partnership" with the designer, said a statement from the sheikh's lawyers. The sheikh, who is close to the ... read more

The current world crisis is being felt acutely at Paris fashion week, where luxury firms are using smaller venues, cutting down on invitations and displaying fewer styles in collections. Many retail executives at Paris fashion week reported they were seeing healthy sales of bags and shoes, as thrifty shoppers update their existing wardrobe with new accessories. Following the Christian Dior show, CEO ... read more

The finances of the Valentino fashion house will withstand the economic crisis, according to a partner in Permira, the private equity fund that owns the group. But current market conditions mean the investor will be sticking around longer than planned. Paolo Colonna, a partner in Permira, the $29 billion European private equity firm that bought the Valentino Fashion Group, said in an interview on ... read more

Hungarian retail sales plunged in July as the government increased the value-added tax rate to 25 percent from 20 percent to boost revenues and plug a hole in the budget. The country has suffered from a collapse in western demand for the cars and other products it produces, a factor that has hit driven up unemployment and flooded into domestic demand. The government is also hampered by strained finances ... read more