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Beijing targets luxury ads amid wealth gap

Beijing has banned outdoor advertising that promotes high-end lifestyles as the government seeks to ease public concerns about the country’s widening wealth gap. Businesses Have been given an April 15 deadline to rectify such ads, along with any that excessively promote “foreign” things. It gave no details on which “foreign” things were deemed objectionable. Such [...]

Dubai Duty Free

Luxury goods lead rise in duty-free spending

The amount we spent on duty-free increased 13 percent last year with much of the growth coming from increased consumption of luxury products. The global duty-free and travel retail market was up by $4.5 billion, reaching a whopping $39 billion in 2010. The increase was particularly marked in luxury goods, suggested Generation Research, which saw [...]

Bernard Arnault LVMH

LVMH to Acquire Jimmy Choo?

LVMH Moet Hennessy Louis Vuitton SA, the world’s largest maker of luxury goods, seems to be having an inspirational spring shopping time. Just one week after sealing the deal to acquire Italian jewelry house Bulgari, LVMH joins the race for the celebrities’ shoemaker, Jimmy Choo. As Sunday Times reported this weekend, the shoe brand, founded [...]

Gucci Weibo

Western luxe brands turn to China’s Twitter, Weibo

Louis Vuitton, Chanel, Gucci, and Burberry are testing the Chinese microblogging service Weibo to research their most promising market of the future from the inside. The platform, which grows at 10 million users per month, has been attracting an elite of Western luxe brands over the past month, testing ideas for campaigns or other projects [...]

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China may double luxury sales by 2015

China’s luxury spending may more than double by 2015, surpassing Japan to become the world’s largest market for branded goods, according to McKinsey & Co. Sales of luxury items in China, including clothes, handbags, watches and fine jewelry, are expected to increase to about 180 billion yuan in 2015. The 2015 estimate would be equivalent [...]

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LVMH to buy Italian jeweler Bulgari

French luxury group LVMH has agreed to buy Rome-based jeweler Bulgari SpA in a cash-and-shares deal worth euro4.3 billion ($6 billion). The deal will see Bulgari’s founding family become the second largest family shareholders in LVMH behind that of Chief Executive Bernard Arnault. LVMH also announced a tender offer of 12.25 euros per share to [...]

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