German premium brand ESCADA inaugurated last week its mono-brand store in the Romanian ...
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Prada opened last week two stand alone stores, marking the official entry on the Moroccan ...
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French luxury group PPR, parent company of Gucci, Bottega Veneta, Boucheron has teamed up ...
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French luxury maison Chanel announced the opening of its 6th store in Australia, in the ...
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Italian luxury group TOD'S which includes the Tod's, Hogan, Fay and Roger Vivier brands, ...
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The biggest rally in three years for luxury-goods makers in Europe is fizzling on concern ...
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Ultra luxury The Alpina Hotel opens in Gstaad this December
03 May 2012
This December will see the grand opening of The Alpina Gstaad in the heart of the Bernese Alps. The first luxury hotel to be built in Gstaad in 100 years, The Alpina Gstaad is set in an exclusive hill top area in Oberbort, just five minutes from the centre of Gstaad village, overlooking picturesque Saanenland.
A contemporary interpretation of traditional Swiss architecture, the hotel is part ... read more
India's DLF Group exits luxury retail
02 May 2012
After ending its joint venture with Giorgio Armani (now in the portfolio of Genesis Luxury for India) DLF said it is in the process of breaking its partnership with another Italian luxury brand Salvatore Ferragamo as part of a move to exit luxury brands business.
The real estate division will instead focus on selling premium and ... read more
Raffles Paris launches luxury serviced suites unit
02 May 2012
Situated at 41 Avenue Hoche, next to Le Royal Monceau, Raffles Paris, Privé is a new collection of luxury suites, including three Presidential Suites. Each one is designed as an exclusive private residence, with levels of service worthy of a great private house.
Set over five floors, these beautifully sophisticated, flexible suites offer their guests ... read more
Prince Alwaleed sells Four Seasons Hotel Toronto, its third sale of a Four Seasons property this year
02 May 2012
Kingdom Holding, the investment firm controlled by HRH Prince Alwaleed Bin Talal, has sold its Four Seasons hotel in Toronto for US$145 million. In a statement released by the Riyadh-based company today, Alwaleed said: "These transactions mark yet another step for KHC (Kingdom Holding Company) towards the realisation of the value of its investments." The statement did not mention the ... read more
Fondation de la Haute Horlogerie premiers in the U.S. THE MASTERY OF TIME
01 May 2012
At a special event in New York in early May, fine watch specialist and journalist Nick Foulkes will present the book alongside its author, Dominique Fléchon, historian and expert with the FHH.
The Mastery of Time, a history of timekeeping, from the sundial to the wristwatch: discoveries, inventions, and advances in master watchmaking promotes the culture of timekeeping ... read more
Starwood CEO sees more demand for luxury
30 April 2012
Nouveaux riches leisure travelers around the world are craving luxury, and companies are becoming confident enough to send more travelers on the road - a combination that Starwood Hotels CEO Frits van Paasschen says helped his company see better-than-anticipated results so far this year.
"Last quarter, we suggested 2012 has more potential to surprise on the upside, and we ... read more
Nokia to sell its troubled luxury brand Vertu to Permira
30 April 2012
Nokia is likely to sell its luxury arm Vertu, based in the U.K. to venture capital firm Permira for the equivalent of US$ 265 million, which is on the low end of the initial Vertu valuation we heard about in December.
That is about a year worth of Vertu revenue, according to most estimates, coming from gold-plated phones with sapphire ... read more
Qatar led group takes control of UAE based jeweller DAMAS
28 April 2012
Qatar's Mannai Corp and Egyptian investment bank EFG Hermes have taken control of Dubai based Damas after their consortium's US$ 445 million offer was accepted by more than 75 percent of the jeweler's shareholders.
The bidders have received acceptances representing 78.37 percent of Damas's share capital for their US$0.45 per share offer, according to a statement on the Nasdaq Dubai bourse on ... read more
PPR Group's luxury division reports 29 percent growth with YSL reporting spectacular results
28 April 2012
PPR Group, whose luxury division includes brands such as Gucci, Bottega Veneta and Boucheron reportsrevenue growth from continuing operations at 15 percent reaching a total of 3.3 billion euros, which was fuelled by the fast paced growth of the Group’s business in emerging countries which now represent around 37 per cent of revenue for the Luxury and Sport & Lifestyle ... read more
IWC Schaffhausen opens first US flagship store in New York
27 April 2012
Swiss luxury watchmaker IWC Schaffhausen (owned by Richemont Group) officially opened its first US flagship store this Wednesday, at 535 Madison Avenue, New York. The luxury boutique is spread over two floors and boasts over 3,000 square feet of retail space.
To coincide with the opening of its new boutique, the brand also launched its new re-working of its ... read more
Ermenegildo Zegna turnover exceeds 1 billion euros and expands in Africa
26 April 2012
Family owned Italian luxury menswear house Ermenegildo Zegna published this week a “historic” annual reportby continuing its strategy of heavily expanding its distribution network and exploring new markets. For the first time in its history, the brand, based in Biella, (Piedmont) saw its turnover exceed one billion euros, an objective which it set for ... read more
Louis Vuitton and Saks Fifth Avenue open in Kazakhstan in August
26 April 2012
This August will see the opening of the mall as part of Esentai Park, a grand mix-used development of approximately 8.7 ha in Almaty, the capital of Kazakhstan. Esentai Park includes seven buildings: the Esentai Tower and Ballroom, three Residential Towers, a Fitness Center and a Shopping Mall, all together, reaching up to a construction area of 368,000 ... read more
Booming financial results for Salvatore Ferragamo
25 April 2012
Salvatore Ferragamo registered a record 2011, the year of its IPO, reaching a revenue total of 986,4 million euros, an increase of 26,2% on the previous year. The Asia Pacific region remains the number one market of Ferragamo accounting for 36,3% of its turnover, with a 44% growth in China alone. Sales in Europe for Ferragamo grew by 30,8%, the US by 27% and South America by 35%. Shoes represent over 46% of ... read more
Gucci on a conquest of China, South Korea, Brazil and India with a series of grand events
25 April 2012
GUCCI celebrated famous Chinese actress Li Bing Bing with a lavish event in Shanghai, last week, at the historical Wai Tan Yuan venue. Over 500 VIP guests attended the catwalk show of the Gucci Fall Winter 2012/2013 collection and a presentation of handbags and jewellery, a campaign dedicated to Li Bing Bing. The venue was transformed for the day into a Gucci Club, on three floors, with a rock theme party ... read more
The Galleria Mall in Abu Dhabi attracts over 80 international luxury brands
25 April 2012
The Galleria Mall at Sowwah Square in Abu Dhabi which is slated for September 2013 confirms 70% of space leased, among which major international luxury brands: Louis Vuitton, Balenciaga, Bottega Veneta, Brioni, Marc Jacobs, Boucheron, Dolce Gabbana, Prada, Christian Dior, Jimmy Choo, Lanvin, Tom Ford, Ermenegildo Zegna etc. Premium brands such as Hackett, Miu Miu, Coach and Lacoste are also confirmed ... read more
Zegna acquires stake in Brunello Cucinelli
24 April 2012
Italian family owns menswear house Ermenegildo Zegna confirmed this week the acquisition of a 3% stake in Italian house Brunello Cucinelli, known as a specialist in cashmere. Brunello Cucinelli made its IPO debut on Milan's stock exchange this week. Gildo Zegna, President and CEO of Ermenegildo Zegna indicated that the purchase was a strategic one, given the already well established relationship with ... read more
Richemont Group invests over 80 million euros in research centre
24 April 2012
Compagnie Financiere Richemont SA, world's second largest luxury group said Monday it will invest 100 million Swiss francs (USD 92 million) on a new watch production site near Geneva to house some of its watch-making divisions.
The company will invest the money on a integrated work site in Meyrin. The total workforce should reach 900 by 2020, with 400 new staff being hired between now and then.It ... read more
Crocus Mall in Moscow attracts more luxury brands
23 April 2012
Moscow's Crocus City Mall is further consolidating its mix of international luxury brands, becoming an increasingly attractive destination for luxury shopping. February saw the opening of the Love Moschino mono-brand boutique (the first brand boutique opened in Moscow) and a PRADA store, featuring both men's and women's collections.
Prada's ... read more
Growing sales for luxury cars in Iran
22 April 2012
Wealthy Iranians are fuelling an unprecedented luxury car boom despite sanctions hurting their economy, paying up to $360,000 for high-end autos, according to showroom employees and reports on Sunday. “Buyers are paying upfront for these cars, which generally cost two to three times more than abroad,” one car salesman in Tehran told AFP on condition of anonymity.
A newspaper ... read more
Michael Kors and Sergio Rossi step up expansion in China with stores in Beijing
22 April 2012
American premium ready to wear house Michael Kors inaugurated this week its new flagship store in China, in the capital of Beijing. The 230 sqm store Michael Kors store in Beijing is situated within the Shin Kong Place Mall on Jianguo Road.
Italian luxury shoemaker, Sergio Rossi, which is owned by PPR Group opened its second mono-brand store in Beijing this ... read more