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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Sofitel opens luxury property in Abu Dhabi
20 March 2012
Sofitel Luxury Hotels continues its expansion in the Middle East and is pleased to announce the opening of its first property in Abu Dhabi and the group’s second property in the United Arab Emirates.
Located at the eastern tip of Abu Dhabi’s Corniche, the hotel is situated within walking distance of the seafront and close to the business and financial centre. Part of the new Capital ... read more
Stefano Ricci inaugurates flagship store in Paris and pursues international expansion
20 March 2012
Italian luxury menswear house of STEFANO RICCI, based in Florence, inaugurated last week its flagship store in Paris, on the prestigious Avenue George V. The new flagship store covers 200 sqm and is directly operated by the Stefano Ricci company, which celebrates this year its 40th anniversary.
With the occasion of the Paris opening, Stefano Ricci's CEO Niccolò Ricci spoke to ... read more
Harvard Business School steps up activities in India and opens classroom in Mumbai
20 March 2012
Harvard Business School today announced the launch of the new amphitheater-style classroom, built and owned by the Taj Lands End in Mumbai. Unlike the temporary spaces in Hyderabad and Mumbai where the School previously offered programs, the new space replicates the classrooms on the School's Boston campus, giving participants and students a true Harvard Business School case method learning ... read more
Aman Resorts to open in Greece this summer
20 March 2012
Singapore based AMAN RESORTS group is opening this summer its 25th worlwide property, the fourtth in Europe. Amanzoe is a 38-suite resort which is located near Porto Heli on Greece's Peloponnese peninsula Amanzoe joins Montenegro's Aman Sveti Stefan and Turkey's Amanruya. Amanresorts’ properties are known for their outstanding architecture, and the new addition to ... read more
The impact of the new budget on India's luxury market
18 March 2012
The yearly budget draft presented this week by Finance Minister Pranad Mukherjee has already been generating strong criticism from several luxury sectors, especially auto and jewellery.
In the new budget, the customs duty on standard gold would double, to 4% and on non-standard gold to 10%. Earlier this year, the government had raised the import duty on gold from 1% to 2%. This move is expected to ... read more
Ahead of IPO, Salvatore Ferragamo reports record financial results
16 March 2012
Italian luxury house Salvatore Ferragamo reported this week its sales grew by 26,2% in 2011 compared to 2010, reaching a total of 986,4 million euros and a net profit 103,3 million euros - a 68% increase on 2010. Ferragamo is present in 92 countries and with the exception of Japan, all territories registered an average sales growth of 30%. ... read more
Qatar acquires over 1% of LVMH
16 March 2012
Qatar Holding is due to confirm April 5th its official entry to the capital of world luxury giant LVMH, the transaction reported to have taken place in 2011. Qatar's new venture does not come as a surprise given the numerous acquisitions internationally, in particular in France.
Through its different business units, Qatar now controls: leatherwear house Le Tanneur, Peninsula Hotel in Paris (due ... read more
After Bangkok, SO BY SOFITEL set on Dubai
16 March 2012
French luxury hotel chain, SOFITEL, part of giant Accor Group, is looking to increase the number of 'So by Sofitel', its luxury fashion hotel brand to 18 globally in the next five years, including plans for a property in Dubai.
The firm currently has two properties operating under its So brand but has major expansion planned with Cairo and Beirut also being ... read more
Zegna's revolutionary approach to Facebook
15 March 2012
Italian luxury menswear house Ermenegildo Zegna is changing the way consumers see its Facebook page, by incorporating an augmented reality feature that gives users secret mobile videos to future campaigns.
The brand is using the Aurasma mobile application that scans the Zegna profile picture and shows consumers a video of the upcoming contemporary art installation at MAXXI – National ... read more
PRADA's new flagship store in Moscow, now open
15 March 2012
Italian luxury house of Prada opened this week its new flagship store in Moscow, the largest in Russia. Situated in a strategic location between Bolshaya Dmitrovka at Stoleshnikov Pereylok, in the heart of the city’ luxury shopping district (opposite Louis Vuitton). This is one of the Prada’s largest stores in Europe: about 1470 square metres on three levels that ... read more
Hugo Boss expects good results in 2012 but is cautious about certain markets
15 March 2012
German based Hugo Boss said Wednesday expect new record results this year, confident in its strategy of stores under its own control and the growing success of the brand outside Europe. Hugo Boss expects this year a rise in sales adjusted for currency effects "of up to 10%", and "all regions and distribution channels will contribute," said a ... read more
Takashimaya to open department store in Shanghai and Ho Chi Minh City
15 March 2012
Japanese premium department store operator Takashimaya is opening this summer its first department store in China, in the metropolis of Shanghai. The company also announced the opening of a 15.000 sqm department store in Ho Chi Minh City, Vietnam by 2015, within the mixed use real estate development Saïgon Centre. Outside Japan, Takashimaya is operating department store in ... read more
VICEROY opens ultra luxury resort in Maldives
14 March 2012
Viceroy Maldives, which is due to open April 2nd, is an ultra luxury resort comprising of 61 Villas with 32 over the water and 29 on the beach. Each Villa is designed with the intent to have maximum privacy, either on the lagoon or on the beach by providing ample distance between each of the villas to maintain intimacy and space for the guests. The resort's 61 villas resemble the hull of an inverted ... read more
Tom Ford to open this year flagship store in Paris
14 March 2012
American luxury house of Tom Ford recently signed a franchise agreement with Simon Ibgui to open a 350 sqm flagship store in Paris on Rue Francois 1er. Covering 3 floors, the new Tom Ford flagship store will feature the entire Tom Ford men's universe, from ready to wear, shoes, bags, leather accessories, to perfumes and eyewear. The store is expected to open early December 2012 with the Spring Summer 2013 ... read more
Four Seasons to open in Dubai
14 March 2012
Four Seasons' Vice President for Development, Scott Woroch confirmed last week during the International Hotel Investment Forum in Berlin taking placing during ITB, that Four Seasons is ''very actively engaged on a project in Dubai'' where the company secured ''a great site''. Dubai Contracting has started construction works on Four Seasons’ first hotel in Dubai, executive vice president ... read more
Vilebrequin to expand in the Middle East
14 March 2012
Vilebrequin, the French swimwear firm, plans to triple its sales in the GCC by 2014 as it expands the brand in the region, its managing director has told Arabian Business. The company will open a new store in both Kuwait and Jeddah by the end of 2012 as part of an expansion that will see it increase from five to 16-17 shops in the region by 2014, said Marc Pirinoli.
“We have five stores and at the end of ... read more
With its latest store in Japan, PRADA reaches record number of new openings
13 March 2012
With the opening of its latest mono-brand store in Japan, last week, within the Matsuzakaya Mall in the city of Nagoya, Italian luxury house of PRADA reached a record of 20 new directly operated stores in 2 months (under the PRADA brand), becoming not only the fastest growing luxury brand worlwide but also surpassing expansion rate by rival Louis Vuitton in 2007.
Prada IPO listing on the Hong Kong Stock ... read more
Loro Piana and Alberta Feretti expand stores in London
13 March 2012
London's short supply of luxury retail space is forcing many luxury brands to secure their locations by expanding space. Italian fashion house of Alberta Ferretti is expanding its store at 205-206 Sloane Street from 3,500 to 5,000 square feet by moving up into the first floor, while Italian luxury house, known for its cashmere, Loro Piana bought its neighbour's lease at 48 Sloane Street with the aim of ... read more
World luxury sales may slow down
13 March 2012
HSBC Global Research have recently released a report about the imminent slowdown in luxury sales, although it is expected that revenues won’t fall.
“We forecast the sector’s average organic sales growth rate to slow to 10 per cent in 2012 and 9 per cent in 2013 from the historically high level of 2011 (circa 20 pr cent),” stated the ... read more
Mandarin Oriental to manage hotel in Atlanta, Georgia
12 March 2012
Mandarin Oriental Hotel Group announced today that it has signed a long term management contract to rebrand and operate an existing luxury hotel and residences in Atlanta. The property, "The Mansion on Peachtree", will be rebranded as Mandarin Oriental, Atlanta with effect from May 2012. The hotel is situated in the heart of Buckhead, the city's most prestigious neighbourhood. With ... read more