Tag Archives: luxury brands

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Tiffany shop Hong Kong

Luxury goods sales set for 10% growth: study

Tiffany shop Hong Kong

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 in Asian markets,” said Santo Versace, head of the Italian fashion house and the Altagamma Foundation of Italian luxury companies.

The growth forecast was revised up to 10 percent from 8 percent, but still falls short of the 13-percent growth the sector recorded last year.
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Burberry fashion show Beijing

Top 10 Luxury Brands Using Digital

Burberry fashion show Beijing

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 to shareholder value,” according to L2.

Judging from its analysis, it is safe to say that those brands that connected the dots between social media and e-commerce fared best in the ranking.
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store opening Longchamp Shanghai

Shanghai’s young high rollers splurge on luxury

store opening Longchamp Shanghai

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 Hangzhou, with its 13% share.

Second and third-tier cities in the country are still far behind, despite boasting a growing number of wealthy people, according to the World Luxury Association.
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chanel fall winter 2011

Chanel Files Internet Counterfeit Lawsuit

chanel fall winter 2011

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, using keywords that will more than likely show up in search engines like Google and Yahoo.
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Front row fashion show

Fashion bloggers to spur online luxury sales

Front row fashion show

Fashion bloggers will help propel online sales of designer clothes, jewels and luxury cars to more than 11 billion euros ($15 billion) in 2015.

The exclusive fashion world has embraced the Internet later than other industries but is catching up quickly.

Brands such as Burberry, Tiffany and Gucci are increasing exposure to social media to connect with a new generation born when mobiles and Internet were already there.
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Vipstore

Luxury shopping websites in China

Vipstore

You don’t have to tell the people at Prada how valuable the Chinese market for luxury goods has become — the Italian fashion icon is so keen to set up a base out East that it is about to be listed on the Hong Kong stock exchange.

In fact, such has been the rush by the world’s luxury brands to get a foothold in China that there are, apparently, little to no spaces left for them in the malls of the country’s largest cities.

Bad news for the brands themselves — keen to get a slice of a market estimated to be now worth 84 billion yuan (nine billion euros) a year — but it is good news for China’s fast-growing number of online luxury-only shopping portals.
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mainland Chinese luxury consumers

China’s luxury consumers get their information online

mainland Chinese luxury consumers

As the buying power of China’s masses continues to spiral upwards, more and more information is being gathered focusing not only on what they like to spend their money on but how they go about spending it.

This week it has been the turn of the international audit and advisory services firm KPMG to release its report into the spending habits of mainland Chinese.

It found that 70 percent of the country’s consumers of luxury brands search the internet each month before making their purchases. What’s more, 30 percent claimed they searched online for information on luxury items each week.
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Ginza area Tokyo

Tokyo’s fashion stores slowly reopen

Ginza area Tokyo

According to local and international media, Tokyo‘s fashion business is gradually getting back to usual.

After the earthquake hit Japan on March 11, many brands including Louis Vuitton, Prada, and Cartier acted to bring some of their executive staff back to their home countries and closed local boutiques.

News outlets including WWD and Racked now confirm that on March 22, Louis Vuitton, Gucci, Dior, Chanel, and Forever 21 reopened their doors in the capital.
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Bernard Arnault LVMH

LVMH to Acquire Jimmy Choo?

Bernard Arnault LVMH

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 by Tamara Mellon, could be sold for as much as $804 million.
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Gucci Weibo

Western luxe brands turn to China’s Twitter, Weibo

Gucci 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 directly on their Chinese audience.

“You can immediately see how the market and your following will respond to something if you want to do research” said Leaf Greener, fashion editor of Elle China.
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wondergirls chloe

China shifting to no-logo luxury

wondergirls chloe

The tastes of China’s wealthy are shifting away from designer goods with flashy logos to more understated luxury brands, the chief executive of French fashion house Chloe said Friday.

That shift has helped Chloe become one of the Swiss luxury goods company Richemont Group‘s fastest-growing labels in China, its CEO said.

“China has been very fast at picking up the most well-known brands,” Geoffroy de la Bourdonnaye said in a group interview.
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Louis Vuitton store Ginza

Japan’s young generation closes ‘luxury wallet’

Louis Vuitton store Ginza

According to a Women’s Wear Daily report, young Japanese shoppers are less impressed by designer brands and more value-driven than their parents.

The consulting firm McKinsey & Co. already reported last July that “almost 30 percent of shoppers under 30 in Japan named price as the most important factor they consider when shopping, compared to just 21 percent for those over age 50″.

As a result of its economic collapse, Japan’s per-head spending has radically declined — a trend that will continue — with the luxury market being particularly affected, having shrunk by 23 percent between 2006 and 2010.
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Louis Vuitton Shanghai shopping mall

China biggest luxury goods market by 2020

Louis Vuitton Shanghai shopping mall

China will be the world’s biggest luxury goods market by 2020 as its economy booms and an emerging middle class spends a growing chunk of their cash on high-end items.

Over the next decade, Chinese consumers — including a surging number of billionaires — will account for 44 percent of global spending on goods such as bags, vehicles, watches, shoes and clothes, the report by brokerage CLSA said.

The nation’s luxury goods sector was worth $25 billion in 2009, or about 10% of the world market, including purchases by consumers in HK, Macau and Taiwan.
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cartier china

2011 Hurun Best of the Best Awards

cartier china

Luxury-brand awareness is growing among China’s super rich, who recognize 20% more of the lavish brands than they did last year, according to the Hurun Report.

The 2011 Best of The Best Survey, which interviewed 401 Chinese mainland millionaires, each with assets of more than 10 million yuan ($1.5 million), said the super rich in China are developing more sophisticated tastes in luxury products.

“Chinese entrepreneurs are getting more and more sophisticated, discerning and confident in their personal style, and what they aspire to, as they try to turn new money into old money,” said Rupert Hoogewerf, founder of the Hurun Report.
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cerruti store

China’s Trinity Limited buys Cerruti

cerruti store

Chinese clothing retailer Trinity Limited said Wednesday it has agreed to buy the Cerruti luxury fashion and perfume brand for a maximum of 70 million dollars.

Trinity Limited said its purchase of Cerruti Holdings “fits in with the Group’s strategy to own intellectual property rights or take on very long term licenses in high-end to luxury menswear brands with heritage.”

Cerruti has been owned since 2006 by MatlinPatterson, a firm which specialises in turning around loss-making companies.
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Western luxe still rules China

Ne-Tiger

The Chinese luxury site NobleChinese posted a Top Ten List of preferred domestic luxury labels, as chosen by its readers.

Only two of the entries are fashion brands affirming that when it comes to fashion, Western brands are still the best-known and favored amongst Chinese netizens.

It comes as little surprise: A September 2010 study done by consulting firm McKinsey shows that affluent Chinese consumers prefer foreign brands

52% of consumers whose annual income exceeds $36,000 trust foreign brands more than Chinese ones, while only 37% said they prefer homegrown labels.
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Luxury brands battle for fans on Facebook

On Monday, November 22, Gucci hit the 3 million fan mark on Facebook. The Italian label may soon surpass Burberry, which boasts 3.2 million fans, as the most widely followed fashion brand on the social networking site.

Gucci’s Facebook milestone follows hot on the heels of the announcement made by Burberry on November 19 that it had broken the 3-million-fan mark.

Just this past weekend, Facebook EMEA Vice President Joanna Shields had proclaimed the UK luxury label as the “most widely followed brand on Facebook.”
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Louis Vuitton, Chanel top China’s most-wanted list

China’s ever increasing economic clout has again been reflected in a survey on consumer tastes in luxury goods which has shown the nation not only knows what goods it wants, it most certainly now has the means by which to buy them.

A report released this week by Bain & Company has claimed China is now the fastest-growing consumer of leather goods and jewelry worldwide.

Its overall luxury market has grown 23 per cent this year, meaning it’s on target to reap some 84.3 billion yuan (9.2 billion euro).

But what the world really wants to know is what are the Chinese after. According to this report, Louis Vuitton, Chanel and Gucci are the most lusted-for brands.
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Hermes rejects LVMH foray, luxury battle in offing

Hermes rejected on Wednesday “an attack” on its capital by luxury goods giant LVMH, sounding the start of what could become a bitter battle for control of one of France’s most iconic brands.

The head of LVMH, Bernard Arnault announced he had bought 17 percent of his rival Hermes, insisting that this does not herald a hostile takeover but that he simply wanted to become a “friendly” long-term shareholder.

“If you want to be friendly, Mr Arnault, you should withdraw,” retorted Hermes executives Bertrand Puech and Patrick Thomas.
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LVMH Takes Minority Stake in Hermès

Luxury conglomerate LVMH said Saturday it had taken a 14.2 percent stake in Hermes but denied it wanted to take over the French luxury goods firm.

The company controlled by French businessman Bernard Arnault said it wanted to boost the stake to 17.1 percent at a total cost of 1.45 billion euros (two billion dollars) but was not seeking even representation on the Hermes board.

The move makes LVMH the largest Hermes shareholder after the heirs to the family share of around 70 percent.

There has been speculation about the future of Hermes, known for its fine leather goods and silk scarves, since the death of its charismatic head Jean-Louis Dumas.
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