China will overtake Italy as the second-biggest market behind the United States for iconic sportscar maker Lamborghini within three to five years, the group’s chief executive said on Wednesday.
The Chinese associate luxury more with chauffeur-driven cars than sports cars because of bad road conditions, traffic congestion and driving standards, Stephan Winkelmann told the Reuters Global Luxury Summit.
But the sports car culture will gain ground in China, he said, as road infrastructure develops fast and Chinese consumers aspire to own well-known European luxury brands. Continue reading →
Last month’s Robb Report has announced that timber magnate Tim Blixseth will accept $75 million for his 5 acre Caribbean island of Emerald Cay, or swap it for a Gulfstream Jet or a luxury New York apartment.
Blixseth bought the island half-finished about three years ago, and then completed the construction.
He originally planned on using the island as part of his Yellowstone Club World luxury residence club, but the club recently filed for bankruptcy. Continue reading →
Bentley Motors released a teaser video and image of a new flagship sedan it plans to unveil later summer, possibly at Pebble Beach in August.
Known unofficially as the “Grand Bentley,” the car will be “positioned at the very pinnacle of the market — representing the height of British luxury motoring,” the company said.
This vehicle will replace the Bentley Arnage at the top of their line-up and is designed to be “exceptional in all respects on the road.” Continue reading →
Luxury groups are turning to films, the Internet and private dinners to attract customers as they search for more cost-effective ways to advertise to fight falling sales, executives told the Reuters Global Luxury Summit.
Hermes is increasing its overall marketing budget by just under 10 percent this year to a touch above 100 million euros but only a third will be on advertising, Chief Executive Patrick Thomas said.
“The rest of the budget goes on shop windows, exhibitions, private public relations operations,” he said, including invitations to 10-15 customers to themed store openings. Continue reading →
The Infintas yacht is the second design launch of Schöpfer Yachts and is just as impressive as its first one, the Oculus Superyacht.
The new 300-foot (91.5 meter) Infintas superyacht has been designed by E. Kevin Schopfer with Sparkman Stephens, Naval Architects.
While the Oculus was inspired by an oceanic fish, the Infintas draws inspiration from the infinity symbol, which is highlighted within the yacht’s elevation.
Paris’ famed Hôtel de Crillon – one of the finest of the luxury Paris hotels – has been put up for sale by its American owner – Starwood Capital – for about €300 million($420 million).
Starwood has owned the Crillon since 2005. The company took on the five-star hotel as part of its €2 billion acquisition of Taittinger’s hotel and champagne empire. Continue reading →
Tokyo’s Inner Central District overtook London’s West End to become the most expensive office location in the World – with an occupancy cost of $183 per sq. ft. – according to the CB Richard Ellis global office cost survey.
Moscow, Hong Kong’s central business district and Tokyo’s outer central district were in third, fourth and fifth position.
Financial centres around the world have been hit by declining occupier demand. In many cases office occupancy costs have dropped by 20% or more over the last 12 months. Continue reading →
In 2007 Vacheron Constantin introduced the Metiers d’Art Les Masques collection of timepieces featuring the miniature reproductions of primitive art masks.
This year sees the launch of the third and final set (limited like the others to a 4 piece set of 25).
The timepieces are inspired from artwork found in the Barbier-Mueller collection – a collection of over 7,000 pieces which includes artwork from tribal, classical and other primitive civilizations from around the globe.
Global sales of luxury goods will likely fall again in 2010 but return to growth in 2011, an industry expert said on Monday.
“The worst thing that can happen is that we have another year of negative growth in 2010 … But I see it picking up definitely by 2011,” said Scilla Huang Sun, who runs a $30 million luxury fund for Julius Baer.
Speaking at the Reuters Global Luxury Summit, she forecast global sales of luxury goods would fall 5 percent to 10 percent this year but said suggestions the economic crisis meant the death of the luxury market were way off the mark. Continue reading →
London photographer Atton Conrad captured these stunning images by fusing beautiful models with dresses manufactured from light graffiti.
The light creates a dramatic sense of movement, while also providing different types of textures and styles.
Conrad uses enough density of light to allow the models to be modestly covered but still maintains a sheer alluring outcome that seems virtually ghostly. Continue reading →
World-famous fashion photographer David LaChapelle has shot the new campaign for French designer Christian Audigier’s lifestyle label, Ed Hardy.
The shot will promote his new collection of apparel and accessories that carry prints of American tattooer Don Ed Hardy.
It shows real versions of the figures Hardy uses in his works such as sirens, devils and geishas. The tiger in the background is the signature symbol of the brand. Continue reading →
French luxury goods group Hermes has resorted to breeding its own crocodiles on farms in Australia to try to meet demand for its leather bags, its chief executive told Reuters on Monday.
Customers sometimes have to wait several years for certain exotic-skin bags, which can fetch over 35,000 euros ($48,410).
“It can take three to four crocodiles to make one of our bags so we are now breeding our own crocodiles on our own farms, mainly in Australia,” Patrick Thomas told the Reuters Global Luxury Summit in Paris. Continue reading →
Hermes believes turbulence could hit the global luxury goods industry for the next two years and has put some expansion plans on hold, the French fashion and leather goods group said on Monday.
Watches and jewelry will take at least two years to recover from the current luxury spending downturn but fashion sales could pick up faster, Hermes Chief Executive Patrick Thomas told the Reuters Global Luxury Summit in Paris.
“In my opinion, turbulence will last rather long, maybe two years,” Thomas said.
The world’s second-largest luxury goods group in terms of market value behind LVMH said it had postponed the opening of two shops in China and two leather goods plants in France. Continue reading →
Noah Fulmor and Erin Finnegan (pictured below) will be the first couple to be married in zero gravity.
The couple, lifelong space fans will exchange rings and vows on June 20, in front of their closest family and friends aboard a modified Boeing 727-200 plane owned by the Zero Gravity Corp.
The plane will depart from Kennedy Space Center at Cape Canaveral, Fla., and make steep dives while airborne to give the passengers eight full minutes of weightlessness, just as astronauts experience while flying in space.
The maneuver goes this way: The plane heads upward at about a 45-degree angle, then starts downward again at about a 30-degree angle–weightlessness occurs as the plane goes over the top of that parabolic curve. (the plane featured above is an Airbus)
The lovebirds had their wedding wardrobe especially designed for the occasion.
The bride will wear a multilayered white gown by Japanese designer Eri Matsui and the groom will be in a tux with tapered tails to ensure their clothes don’t reveal too much.
The bride and groom will even exchange special rings designed by jeweler Chris Ploof made with pieces of metal from the Gibeon meteorite, a space rock made of an iron-nickel alloy that crashed into the Earth 30,000 years ago.
The couple paid $5,400 per person for themselves and 10 guests to take the ride, though some guests are paying part of their own tickets.
“Noah and I are throwing a lot of money at our crazy wedding because private space travel is a cause we really believe in,” Finnegan wrote.
“Noah wanted to get married in space but we probably won’t be able to afford it for another 25 to 50 years – so I suggested this as a compromise,” she said.
Gucci plans to open two to four more stores this year in China, after opening its 28th on Saturday, undeterred by uncertainty in the global economy as China is set to lead future luxury consumption.
For the moment, China’s $8 billion luxury market accounts for just 3 percent of global sales, compared with 38 percent in Europe, 33 percent in South and North America and 12 percent in Japan.
But China (and Brazil!) are projected to be the two fastest-growing luxury markets through 2012, according to consulting firm Bain & Co. Continue reading →
In June, the 209-room PuLi Resort and Spa will offer all the trappings of an urban resort, including 24-hour butler service, bathtubs with views of the Shanghai skyline, an Anantara Spa and an exclusive lounge for guests of The PuLi Club.
Prices: from $650 (opening specials will be available until the end of September)
An unkown buyer from Middle Eastern prince has spend £300 million ($482 million!) for a luxurious Airbus A380 private jet, which is being designed by Worcestershire-based firm Design Q.
The converted Airbus A380 is expected to be ready in three years time and will hold the title of the world’s largest private jet.
In a space normally given to 600 passengers, the owner and his guests will enjoy five-star treatment from the moment of arrival.
