Mandarin Oriental Hotel Group has today announced that it will manage a luxurious hideaway ...
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Hermès has recently confirmed the opening of the very first store of its brand Shang ...
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With the aim of reaching 40 mono-brand stores by the end of 2012, Italian luxury menswear house ...
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Last week, the Royal Family of Qatar, purchased Paul Cezanne's "The Card Players" ...
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Conceived as a sophisticated online installation, Eberhard & Co recreates on its own ...
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Bulgari Hotels & Resorts, a joint venture between Marriott and the Italian jewellery ...
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Opportunities brought over by the crisis in the luxury industry
Opportunities 26 February 2009
More of the positive elements of the crisis start to surface in the eastern european markets during this period. We are talking about elements that previously hindered the development of the industry:
- rent is slowly decreasing on the main boulevards
- some 200-250 square meters areas in ultra central zones, previously occupied by banks, are now available
- salaries are decreasing for middle and top management
- the birth of a segment of customers previously not oriented towards luxury – we are talking about those interested in certain products from the luxury industry as a form of investment for these times (jewellery, watches, and so on)
- rent is slowly decreasing on the main boulevards
- some 200-250 square meters areas in ultra central zones, previously occupied by banks, are now available
- salaries are decreasing for middle and top management
- the birth of a segment of customers previously not oriented towards luxury – we are talking about those interested in certain products from the luxury industry as a form of investment for these times (jewellery, watches, and so on)