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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Tax on wealthy to be introduced in Russia in 2013
22 February 2012
Rich Russians' opulence has come under fire from an unlikely source, Prime Minister and Presidential candidate Vladimir Putin, who proposed a tax on what he called "prestigious consumption" in an article outlining his economic program that he published in the Vedomosti daily newspaper on 30th January 2012.
"Key steps should be taken this year so ... read more
Milan Fashion Week braces for a possible downturn
21 February 2012
According to a report by AFP, this week's Milan Fashion Week is crucial for retailers and fashion houses as they anxiously prepare for a possible downturn. .
"The situation is dramatic," says the manager of a large claw. "The Italian market is a disaster, as the French market. Nobody consumes! In Europe, there is a real crisis," ... read more
Audemars Piguet hosts major exhibition in New York
20 February 2012
To celebrate the 40th anniversary of Audemars Piguet’s iconic timepiece Royal Oak, the world’s first ever luxury sports timepiece which sparked a complete paradigm shift in the watch industry, Audemars Piguet has put together a unique, ephemeral exhibition.
Using design, photography, sound and film from three unequivocally 21st century artists, Sebastien ... read more
Spectacular come back to London Fashion Week for Stella McCartney
20 February 2012
British fashion house Stella McCartney, owned by PPR S.A. made a spectacular come back to the London Fashion Week, with an unconventional presentation of its latest collection, a fashion first. Last night, Stella McCartney presented her latest collection during a six course black tie dinner with many of her celebrity clients, models actually sitting at the tables among guests. The event has been ... read more
Valentino CEO - too early for the company to be sold
20 February 2012
In an interview to Italian media, Stefano Sassi, CEO of the Italian luxury house of Valentino confirmed several foreign investors (non-Italian) have shown interest to purchase the company, which is owned by Permira investment fund. ''The company will definitely be sold eventually, but that time has not come yet'' said Sassi. Valentino, which registered a 17,5% increase in its turnover in ... read more
Tiffany celebrates its 175th anniversary with new raw material
20 February 2012
In honor of its 175th anniversary, Tiffany & Co. unveils RUBEDO™ metal, a new jeweler’s metal. RUBEDO™ metal is the first such creation in Tiffany’s history and takes its place among the most beautiful metals in the world. In the medieval philosophy of alchemy, Rubedo was the title of the very highest achievement, when matter and spirit fused to create ... read more
Salvatore Ferragamo opens mono-brand store in Prague
19 February 2012
Italian luxury house of Salvatore Ferragamo inaugurated last week its mono-brand flagship on Prague's luxury shopping street Pařížská (Parizska). Like most of the other international luxury brands present with mono-brand store in Prague (Prada, Gucci, Vuitton, Dior, Fendi, Bottega Veneta, Hermes etc), Ferragamo operates directly its new store which features both ... read more
New store format expected to boost expansion of Mappin & Webb internationally
19 February 2012
Jewellery group Aurum is to overhaul its luxury brand Mappin & Webb as it seeks to attract interest from potential buyers that view the chain as the ‘jewel in the crown’ of the retail group. A new Mappin & Webb store format will be launched this summer and own-brand will be expanded. It will also revamp its marketing so the brand appears more “fresh and ... read more
Moët-Hennessy to produce red wide in China for Chinese consumers
19 February 2012
Following the lead of Les Domaines Barons de Rothschild, which developed 25 hectares of vineyards in Shandong province in 2008, recently the luxury giant LVMH announced that it has invested in a vineyard in the mountains of Yunnan province, southwest China, to develop its own 30 hectare vineyard. According to the French business magazine Challenges.fr, LVMH will work with the wine and spirits ... read more
Park Hyatt to open luxury hotel in Bangkok
19 February 2012
Hyatt International signed this week an agreement with Central Retail Corporation (CRC) for long-term management of the 222-room Park Hyatt Bangkok at Central Embassy on Ploenchit Road (the previous British Embassy).
With an investment estimated at 125 million euros, the 36-floor hotel Park Hyatt Bangkok Hotel is scheduled to open in 2014 as the second Park Hyatt hotel in Southeast ... read more
Dolce Gabbana opens flagship store in Berlin
17 February 2012
Italian luxury fashion house of Dolce & Gabbana opened this week its second flagship store in Germany, in the capital city of Berlin, on famous Kurfürstendamm at number 187. The new Dolce Gabbana flasghip store in Berlin covers a total area of 617 square meters on two levels and features the full range of product lines for both men and women - ready to wear, accessories, ... read more
Tourism saves Spain's luxury market
17 February 2012
Despite the European debt crisis, Spain's local luxury brands grew 25 percent last year. The huge influx of Chinese, Japanese and Russian tourists looking to buy designer fashion and home accessories has offset the general downturn in Spanish consumerism. In total, 4.5 billion euros were spent on Spanish luxury items last year, particularly in the foreign tourist havens of Barcelona, Marbella and ... read more
Gucci sales slow down in fourth quarter
17 February 2012
PPR SA said it’s confident that sales and earnings will increase in 2012 amid an “uncertain economic climate,” even as revenue growth at the Gucci luxury goods brand slowed in the fourth quarter.
The shares fell the most since Nov. 1 after Gucci, PPR’s biggest luxury label, boosted sales less than its other brands. PPR dropped 3.3 percent to 120.4 euros in ... read more
Graff Diamond heads for US$ 1 billion IPO in Hong Kong
17 February 2012
British based jeweller Graff Diamonds has filed an application for its $1 billion IPO in Hong Kong, ahead of a planned listing in April this year. In November, Graff said Hong Kong is a suitable listing venue because of the huge demand for diamonds in the region.
Companies like Prada SpA and Samsonite International S.A. were among the big-name international companies that listed in Hong Kong in 2011 as ... read more
Middle East to see recovery in 2012
17 February 2012
The Middle East is “on track” for recovery from the global financial crisis despite the concerns around the euro, according to a leading economist.
Speaking in Dubai on the current global economy and outlook for the Middle East, Andrew Scott, professor of economics at London Business School, said 2012 will be a year of slow growth but the region is doing well in re-balancing its ... read more
Bulgari to host ''125 Years of Italian Magnificence'' exhibition in Shanghai
16 February 2012
The Bulgari Retrospective, a significant exhibition both for the Italian culture, art and heritage of jewelry-making, will be open to the Chinese public again from February 17th to April 17th, 2012, at the Aurora Museum in Shanghai. Presented at the National Museum of China in Beijing last September and October, this exhibition has attracted tremendous audiences to visit and appreciate the ... read more
One&Only to open luxury resort in Sanya, China
15 February 2012
Kerzner International, the owner of One & Only Resorts announced the opening of a luxury One & Only resort in Sanya, China schedule for 2014. One & Only Sanya which will include 120 guest rooms and villas will be situated at Tufu Bay, which is currently virgin territory for tourism.
The project is being co-developed by ... read more
Foreign tourist boost sales at Spain's major luxury outlet centres
15 February 2012
Concentrating most of the major outlet centres in Spain, within 40 to 60 km distance from city centre, Barcelona and Madrid are the focal attraction for both foreign travellers and locals seeking bargains of luxury branded products. According to Value Retail Spain, one of the largest outlet centre operators, outlet centres around Barcelona attract over 60% foreign tourists and the rest ... read more
PRADA inaugurates flagship store in New Jersey, U.S.
15 February 2012
Prada expands its U.S. network of directly operated store, with a new flagship, opened last week within ''The Mall'' a premium shopping centre in Short Hills, New Jersey. The 700 sqm store is featuring the full range of Prada products, for both men and women, from ready to wear, to leather goods, accessories, shoes and bags. The Mall at Short Hills includes 160 specialty stores and restaurants, ... read more
Poltrona Frau expands in India
15 February 2012
Italian luxury furniture manufacturer Poltrona Frau is expanding its retail presence in India, with the addition of a third mono-brand showroom of 500 sqm at Design Center home collections specialized mall in the capital city of New Delhi. Poltrona Frau is present in India through Casa Decor, a joint venture with local Indian conglomerate Tata Group. With the new opening Casa Decor estimates a 50% ... read more