LVMH Moet Hennessy Louis Vuitton, the world’s largest luxury-goods company, on Monday said its third-quarter sales slipped 0.6%, hindered by the consumer-spending implosion and retailers working down inventories without ordering new merchandise. The luxury-goods industry likely won’t fully recover from the downturn until 2011 or 2012, consulting firm Bain & Co. said in a forecast [...]
December 3 2009, a 5,160-square foot boutique, brimming with art and hosting a luxurious pre-fall collection will mark the opening of the new Chanel boutique in Shanghai. Placed in the Peninsula Hotel on the famous Bund river frontpromenade, and designed by architect Peter Marino, the Shanghai boutique promises an interior filled with the finest hand [...]
Seventy-seven percent of Hong Kong consumers are spending the same on necessities while 54% continue to spend on luxury items despite the economic downturn, according to a global survey by leading market research firm Synovate. Interestingly, when asked whether they are worried about the economy, 58% of consumers say they are, but they just can’t [...]
