French luxury group Hermes posts record 2011 sales

French luxury group Hermes has posted record sales of 2.8 billion euros ($3.8 billion) in 2011, highlighting the resilience of luxury brands in the face of the weakening global economy. The group’s sales were up 18.3 percent last year, beating the target of 15-16 percent growth, it said in a statement, and its operating margin … Continued

LVMH acquires 10% stake in Chinese brand Ochirly

French luxury goods conglomerate LVMH – Louis Vuitton Moet Hennessy has paid US$200 million for a 10 per cent stake in Chinese fashion brand Ochirly. The buyout gives L Capital, LVMH’s private equity arm, to hold a direct stake in the family-owned Ochirly which has total value of US$2 billion. The investment gives L Capital … Continued

China starts to look for luxury closer to home

The growing power of the Chinese consumer might have the world in its thrall but it seems it won’t be too long before their lust for luxury is more satisfied a little closer to home. Traditionally, Chinese shoppers have had to head overseas to pick up the latest fashions or other luxury items, due mainly … Continued

Amazon’s flash-sale site going luxe

Amazon’s members-only flash-sale site MyHabit is launching its first designer tab, with the likes of Thakoon, Valentino and Balmain going on offer at up to 60 percent. Adding to its women’s, men’s, children’s and home categories, the site is teaming up with top fashion houses including Bibhu Mohapatra, Costume National and Alejandro Ingelmo for the … Continued

2011 may have been record year for duty-free sales

Global sales of duty-free products reached $46 billion in 2011, up a staggering 17.9 percent, calculated duty free analyst Generation Research. Although the results are still preliminary and currency fluctuations may bring the growth figure down, 2011 may turn out to have been a record-breaking year. Unsurprisingly, Asia Pacific was the star growth region, with … Continued

Western brands aim for China’s ‘Dragon’ riches

It’s meant to bring riches and power befitting an emperor, but if Western luxury brands have their way the Year of the Dragon will cost their wealthy Chinese customers a fortune instead. Monday is the start of the Year of the Dragon, the most favourable and revered sign in the 12-year Chinese zodiac. The dragon … Continued

World’s Top 100 Most Valuable Luxury Brands

Heritage French and Italian fashion brands make up a list of the world’s most valuable labels following a compilation by the World Luxury Association (WLA). The World’s Most Valuable Luxury Brands Top 100 provides rankings in areas including yachts, cars and resorts, although a large focus is on the fashion arena. The Top 100 is … Continued

Dolce & Gabbana says sorry to Hong Kong

Dolce & Gabbana on Wednesday apologised to the people of Hong Kong for allegedly discriminating against them in favour of wealthy mainland shoppers. The company’s flagship Hong Kong store has been the focus of protests and online rage after reports that a security guard told locals they were not allowed to take photographs but mainlanders … Continued

Top 10 Gifts for the Chinese Luxury Consumer 2012

Gift-giving has long been an integral part of life in mainland China and now a new survey has lifted the lid on just what it is the country’s rich have been handing out. The “Top 10 Gifts for the Chinese Luxury Consumer 2012” was compiled by Hurun Report and looked at what China’s wealthy liked … Continued

Top online resources for China’s luxury shoppers

Mainland luxury Chinese consumers are becoming increasingly open to shopping for, and finding information about, luxury brands online with news portals. Weibo is one of the most popular sources for information, according to the results of a survey released November 28 by PR group Ruder Finn Asia. The survey was conducted among 1057 Mainland Chinese … Continued

Gucci remains top searched fashion brand on Bing

Bing, the decision engine from Microsoft, recently pulled together its search trends for 2011 and below is the top 10 searched fashion brands of 2011. Gucci reigns supreme for a second year in a row and beat out top brands including Chanel, Ralph Lauren, Y-3 and Louis Vuitton. Guess and J.Crew proved to be forces … Continued

PPR Buys Menswear Brand Brioni

French luxury products giant PPR said on Tuesday it was acquiring Italian high-end menswear brand Brioni, in line with the restructuring of its business. PPR has “signed an accord with Brioni shareholders to acquire 100 percent of the capital,” it said in a statement, without giving a figure for the deal. PPR head Francois-Henri Pinault … Continued

Brand-addicted Indians propel luxury sector

India’s luxury sales are expected to expand by a scorching 20 percent annually until 2015, as brand-smitten consumers snap up big names to flaunt their wealth. Luxury sales were slow to take off in India a decade ago, disappointing retailers who had rushed into what they hoped would be the next China — a vast … Continued

Luxury goods sales set for 10% growth: study

The luxury sector is set to post double-digit growth this year to 191 billion euros driven by the appetite of Chinese consumers for top-quality goods, according to a study by Bain & Company released on Monday. While “the global economic situation is difficult” the luxury sector “is in good health and is growing above all … Continued

Top 10 Luxury Brands Using Digital

L2, a company that conducts research on digital business innovation, has released a study on the most web-savvy designers. Burberry, which this week reported a 30-percent revenue rise for the first half of the financial year mainly due to a boom in the Chinese market, came out on top — “proof that digital investments translate … Continued

Haute couture saved by Middle Eastern socialites

While designers are trying to target Western customers with affordable fashion chain collaborations or diffusion lines, their haute couture branches are almost single-handedly being kept alive by clients in the wealthy Gulf countries. “I want to be different from others,” a buyer explains. “What I want is unique pieces, extravagant and chic. I do not … Continued

Jimmy Choo plans huge China expansion

Jimmy Choo founder Tamara Mellon hopes to open up to 50 stores in China over the next five years in what she dubbed an “exciting” market for high-end goods. China is the world’s fastest-growing market for luxury products and an ongoing economic boom is creating new billionaires every year in a huge explosion in wealth. … Continued

Shanghai’s young high rollers splurge on luxury

Thousands of rich Shanghai residents have turned China’s most cosmopolitan city into the luxury capital of a country that is expected to become the world’s largest market for the sector between 2012 and 2015. Shanghai topped China’s luxury market in 2010-11 with 18% of overall sales, ahead of Beijing’s 16% and the eastern city of … Continued

Chanel Files Internet Counterfeit Lawsuit

Luxury retailer Chanel Inc. recently filed a “cyber-piracy” lawsuit against 399 websites, charging them with infringement on it’s trademark and selling counterfeit Chanel items, on the Internet. The counterfeit items infringed upon include; handbags, shoes, wallets, jewelry, scarfs, sunglasses and clothing bearing the Chanel name. The suit claims that the websites, specifically, use SEO strategies, … Continued

China’s rich are young, single – and mostly male

They’ve become one of the world’s most influential social groups and now a little more light has been shed on the makeup of China’s rising band of rich. The HSBC corporation and international research company Nielsen have just released their findings into a survey that attempts to dissect the makeup of the richest 10 percent … Continued