Germany's Montblanc said on Tuesday 9 June it would open four boutiques in Saudi Arabia this year to target more of the watch and jewelry market among Gulf Arab clientele with an appetite for opulence.
Wal-Mart Stores Inc's announced a new $15 billion share repurchase plan on Friday 5 June and said market share gains it has made amid the recession are permanent as a "new normal" emerges in which consumers seek to save money.
As sales of luxury goods decline in the global economic slowdown, brands that run their own stores, are backed by corporate parents, or have lead positions on department store floors are poised to come out ahead.
Men's Wearhouse posted a better-than-expected quarterly profit, helped by cost-cutting measures and operational efficiencies, and forecast second-quarter profit that could exceed analysts' estimates, sending its shares up nearly 9 percent.
Global economic giants Japan and China Sunday 7 June pledged to throw their combined weight behind efforts to revive the struggling world economy after talks aimed at boosting trade between the two powers.