Saks CEO Steve Sadoves Outlook on Luxury Retail
Saks CEO Steve Sadoves Outlook on Luxury Retail
The Best Dressed Billionaires in the World
The Best Dressed Billionaires in the World
Jan. 15, 2013 (Bloomberg) — Domenico Dolce and Stefano Gabbana, the co-founders of Dolce & Gabbana Srl, the Milan-based fashion retailer whose Plumeti Tulle and Lace prom dresses sell for about $4,000, have joined the ranks of the world’s richest, according to the Bloomberg Billionaires Index. Bloomberg’s Matthew G. Miller reports on Bloomberg Television‘s “Bloomberg West.” (Source: Bloomberg)
Swatch Agrees to Buy Harry Winston Unit
Swatch Agrees to Buy Harry Winston Unit
Jan. 14, 2013 (Bloomberg) — Cristina Alesci reports on the top headlines from around the world. She speaks on Bloomberg Television’s “Bloomberg Rewind.” (Source: Bloomberg)
British Luxury Shops Training Staff in Mandarin
British Luxury Shops Training Staff in Mandarin
Published on Jan 4, 2013
Chinese tourists have made a splash on the international shopping scene, especially in Britain.
The Daily Mail reported that a quarter of a million Chinese tourists visited the UK in 2012. Together, they spent almost $500 million at high-end stores.
[Sue West, Selfridges' Operations Manager]:
“We have Chinese local customers and we have Chinese tourists. So they fall into two camps. But what I can tell you is the international customer has been increasing dramatically over the last two or three years. Last year we saw over a 40-percent increase on the previous year of international Chinese tourists. So it’s by far our highest growing category of international customer.”
Luxury retailer John Lewis reported a 70% increase in Chinese customers for the last 12 months. In response, the store is training its staff in Mandarin to better serve their Chinese customers.
Post-Christmas deals on Boxing Day have made Britain a destination for many mainland Chinese. Back home, they face high taxes on luxury items. That, along with the risk of buying a fake product, makes a trip to the UK worth taking for many.
British businesses are loving it. Some are now letting Chinese customers pay in yuan or with their Chinese credit cards without additional fees.
Harrods department store has also started offering its catalog in Mandarin.
The trend is only expected to continue growing. Luxury brands are the purchase of choice for status-conscious Chinese. Along with their role as gifts in the culture of bribery in China, luxury items on display are a must to those eager to climb up the business or political ladder.
PwC: Luxury hotels overview
PwC: Luxury hotels overview
Liz Hall, head of hospitality and leisure research at PwC, recently commented on the London luxury hotel market. This year saw the UK’s largest room supply increase from new developments in the last decade. In London, the 2012 Games catalysed development on a scale unlikely to be seen again.
Monaco – Monte-Carlo – The Luxury Industry – Fashion – Most Luxurious Place On Earth
Monaco – Monte-Carlo – The Luxury Industry – Fashion – Most Luxurious Place On Earth
Most people would think that Monte Carlo is the same as Monaco. In fact, although a very small state, Monaco is divided into five districts: Monte-Carlo, La Condamine, Monaco-Ville, Fontvieille, Moneghetti. The reason why Monte Carlo is the most popular one is that it is the touristic center, with the famous Casino and all the luxury hotels.
Monaco is the second-smallest independent state in the world and at the same time the world’s most densely populated country; residents of Monaco represent 108 nations. So, what makes Monaco the ideal place to live and invest?
Location:
Monaco is privileged by:
A special setting and a mild climate make it a fairy-tale place joining mountain and sea. It is said that in Monaco 300 days a year are bright and sunny.
A strategic location, with easy access to major cities.
Attractive fiscal system: Monaco’s fiscal system is characterized by the total absence of direct individual taxation. There are few exceptions mainly concerning residence issues.
Economy: based on a policy of investment, development and innovation.
Main areas of activity:
Tourism — high quality services
Trade and commerce
Services — banking, shipping, insurance, real-estate, consulting, trucking, law firms. The banking sector is highly perfected, ready to answer every need
Industry — main fields: chemicals, plastics, pharmaceuticals, cosmetology, electronic material, textiles , printing. Future-oriented, innovative technologies: high technology fields, biotechnology and environmental industries.
Tourism and commerce represent 40% of the annual turnover. Industry is 8%. Services — banking 18%, shipping 4%.
Transportation:
Monaco is served by main routes and railroads and has several harbors.
Health:
Monaco has a first-class health infrastructure — ten pharmaceutical laboratories, the renowned Princess Grace Hospital, Hemodialysis and Cardio-Thoracic centers.
Education:
The educational program is similar to the French one, the differences being that children begin learning English in Elementary school and are introduced to the traditional language and history of Monaco. The diplomas obtained are the same as in France.
Lifestyle:
Safety: Monaco is said to be one of the safest locations. The system of safety maintaining is very well organized. There is one policeman for every 100 residents, but their discrete presence is hardly felt. There is also a video surveillance system spanning the entire surface area of the Principality, including hotels and gambling establishments. All access in and out can be blocked in a matter of minutes. There are strict regulations for anything detrimental to the harmonious atmosphere such as prohibition of indecent clothing, begging. The rate of delinquency is very low, as the court system is very strict and always gives maximum sentences.
The “art de vivre” Monegasque: centuries-old tradition links to modernism; people here have preserved unspoiled the color and taste of a long-ago inherited art of living characterized by courtesy and discretion.
Culture:
Personalities such as Picasso, Puccini, Matisse, and Berlioz confer Monaco the fame of a center of high cultural importance. The Monte Carlo Philharmonic came into being in 1863, the Monte Carlo Ballet was established by Princess Caroline to honor her mother’s memory. There is also an opera house in Monte Carlo and several theatres.
Leisure:
There is a number of celebrated major events in the world of arts, music, sports going on throughout the year in Monaco. The attractions are surprisingly varied within a so small space. Tourism being highly represented, there are also very many leisure pastime opportunities: sports — golf, squash, tennis, water sports — night clubs, discos, casinos. The hotel facilities and restaurants services in Monte Carlo are remarkably highly rated.
Monaco – Monte-Carlo – The Luxury Industry – Fashion – Most Luxurious Place On Earth
Luxury hotel for dogs
Luxury hotel for dogs
CNN’s Maggie Lake reports on a luxurious hotel in New York City with spa services geared towards four-legged customers.
Luxury Lingerie Brands Battle for $30B Market
Luxury Lingerie Brands Battle for $30B Market
High-end lingerie brands, Victoria’s Secret and Agent Provocateur, are fighting for a slice of the U.K.‘s underwear market with new stores opening in London’s classiest shopping district.
