Global luxury sales should grow eight percent this year to 185 billion dollars (124 billion euros) but Japan's market will contract, according to a study by research group Bain&Company released Tuesday.
It seems like price tags is the last thing on the minds of the “golden youth” from the Arabian Gulf when shopping for luxury gifts. They want goods that are unique and yet recognisable – that is one of the conclusions drawn from a study by Groupe Chalhoub.
Vente-privee.com is crossing the Atlantic. In order to tackle the American market, the French online retailer has allegedly entered into an agreement with American Express. More details of the project will be revealed on May 12th.
Pierre Cardin, 88 and still a top name in clothes design, said he wants to sell his label while retaining artistic control, but his price of a billion euros ($1.48 billion) is five times bank valuations.
Sears Holdings Corp forecast a loss for the first quarter, hurt by weakness at the retailer's namesake and Kmart chains. This comes about two months after Sears named former Avaya Inc CEO Lou D'Ambrosio as its CEO.
China's manufacturing growth slowed in April, a survey showed on Sunday, suggesting that the government's tightening efforts have weighed on the world's second-largest economy more heavily than expected.