Luxury good http://www.globalpost.com/taxonomy/term/26114/all en UPDATE 2-Burberry hails China rebound http://www.globalpost.com/dispatch/news/thomson-reuters/130115/update-2-burberry-hails-china-rebound <div class="field field-type-text field-field-byline1"> <div class="field-items"> <div class="field-item odd"> Thomson Reuters </div> </div> </div> <!--paging_filter--><p>* Q3 revenue 613 mln stg, up 9 pct vs f'cst 602 mln stg</p> <p>* Comparable store sales up 6 pct vs f'cst up 2 pct</p> <p>* China Q3 comparable store sales up "double digit"</p> <p>* Cuts H2 wholesale guidance on Italy concerns</p> <p>* Shares up 4 pct (Adds detail, CFO, analyst comment, shares)</p> <p>By James Davey</p> <p><a href="http://www.globalpost.com/dispatch/news/thomson-reuters/130115/update-2-burberry-hails-china-rebound" target="_blank">read more</a></p> Burberry Burberry Group Plc Business Entertainment Luxury good Marketing Thomson Reuters Tue, 15 Jan 2013 08:15:03 +0000 Thomson Reuters 5734565 at http://www.globalpost.com UPDATE 3-Richemont points to China slowdown, spooks sector http://www.globalpost.com/dispatch/news/thomson-reuters/130121/update-2-richemont-points-china-slowdown-spooks-sector <div class="field field-type-text field-field-byline1"> <div class="field-items"> <div class="field-item odd"> Thomson Reuters </div> </div> </div> <!--paging_filter--><p>* Quarterly sales up 5 pct at 2.86 bln euros</p> <p>* Reuters poll was for 7.6 pct rise to 2.89 bln euros</p> <p>* Richemont shares down 6 pct, dragging down sector (Adds comments from Montblanc CEO, analyst, details)</p> <p>By Astrid Wendlandt and Emma Thomasson</p> <p>PARIS/ZURICH Jan 21 (Reuters) - Cartier watches maker Richemont said sales growth had ground to a halt in the Asia-Pacific region, rekindling fears about a market which has been the driving force of luxury sales.</p> <p><a href="http://www.globalpost.com/dispatch/news/thomson-reuters/130121/update-2-richemont-points-china-slowdown-spooks-sector" target="_blank">read more</a></p> Brand management Business Culture Entertainment Goods Luxury brands Luxury good Marketing Technology Thomson Reuters Mon, 21 Jan 2013 09:45:15 +0000 Thomson Reuters 5737136 at http://www.globalpost.com 'Fake prince' fortune to be auctioned in Australia http://www.globalpost.com/dispatch/news/afp/130210/fake-prince-fortune-be-auctioned-australia <div class="field field-type-text field-field-byline1"> <div class="field-items"> <div class="field-item odd"> Agence France-Presse </div> </div> </div> <!--paging_filter--><p>A trove of luxury goods including a fake crown amassed by a health executive in Australia who claimed to be a Tahitian prince as he allegedly embezzled millions is to be sold off, officials said Monday.</p> <p>New Zealand-born Hohepa Morehu-Barlow, also known as Joel Barlow, is due to appear in court next month over his alleged defrauding of up to Aus$16 million (US$16.5 million) from Queensland state's health department where he worked as a top executive.</p> <p><a href="http://www.globalpost.com/dispatch/news/afp/130210/fake-prince-fortune-be-auctioned-australia" target="_blank">read more</a></p> Lawrence Springborg Luxury good Members of the Queensland Legislative Assembly AFP Mon, 11 Feb 2013 03:45:35 +0000 Agence France-Presse 5752282 at http://www.globalpost.com China's Bosideng says London store a success, eyes New York http://www.globalpost.com/dispatch/news/thomson-reuters/130314/chinas-bosideng-says-london-store-success-eyes-new-york <div class="field field-type-text field-field-byline1"> <div class="field-items"> <div class="field-item odd"> Thomson Reuters </div> </div> </div> <!--paging_filter--><p>By Mohammed Abbas and Alice Baghdjian</p> <p>LONDON (Reuters) - Chinese clothing giant Bosideng's first foreign store in London may not be profitable in the near term, but the company says it is already ramping up plans to open another in New York.</p> <p>With China no byword for luxury fashion, the British arm of Bosideng International Holdings &lt;3998.HK&gt; is striving to change perceptions and improve awareness of its high-end brand.</p> <p><a href="http://www.globalpost.com/dispatch/news/thomson-reuters/130314/chinas-bosideng-says-london-store-success-eyes-new-york" target="_blank">read more</a></p> Luxury good Thomson Reuters Thu, 14 Mar 2013 19:45:05 +0000 Thomson Reuters 5783785 at http://www.globalpost.com Average Korean owns 9 luxury items http://www.globalpost.com/dispatch/news/asianet/130411/average-korean-owns-9-luxury-items <div class="field field-type-text field-field-byline1"> <div class="field-items"> <div class="field-item odd"> Asianet </div> </div> </div> <!--paging_filter--><p></p><P> How many imported luxury goods do you own? If your answer is nine, you are average for the country. A survey showed Wednesday that Koreans have 8.81 such high-end products on average and purchase about two every year.</p><P>According to the survey conducted by the Korea Consumer Agency on 1,000 adults, 37.9 percent said they have one to three of such items, while 22.4 percent answered four to five, and 21.9 percent, six to 10.</p><P>People with more than 50 luxury items accounted for 3.4 percent, and 0.9 percent had more than 100 such items.</p> <p><a href="http://www.globalpost.com/dispatch/news/asianet/130411/average-korean-owns-9-luxury-items" target="_blank">read more</a></p> Brand management Business Goods Luxury good Asianet Thu, 11 Apr 2013 09:02:58 +0000 Asianet 5810478 at http://www.globalpost.com L'Oreal's first quarter driven by North America, new markets http://www.globalpost.com/dispatch/news/thomson-reuters/130418/loreals-first-quarter-driven-north-america-new-markets <div class="field field-type-text field-field-byline1"> <div class="field-items"> <div class="field-item odd"> Thomson Reuters </div> </div> </div> <!--paging_filter--><p>PARIS (Reuters) - L'Oreal &lt;OREP.PA&gt; reported first quarter sales on Thursday slightly ahead of forecasts, driven by strong demand in North America and new markets.</p> <p>The world's biggest cosmetics group said trading in Western Europe for luxury products remained lacklustre and trends were negative for its professional hair products in southern Europe.</p> <div class="field field-type-text field-field-wire-copyright"> <div class="field-items"> <div class="field-item odd"> <p><a href="http://thomsonreuters.com" class="button wire reuters"></a></p> <p><span>Copyright Thomson Reuters, 2013.</span></p> </div> </div> </div> <p><a href="http://www.globalpost.com/dispatch/news/thomson-reuters/130418/loreals-first-quarter-driven-north-america-new-markets" target="_blank">read more</a></p> CAC 40 L'Oréal Luxury good Thomson Reuters Thu, 18 Apr 2013 19:00:04 +0000 Thomson Reuters 5819606 at http://www.globalpost.com Hermes says Q1 sales gain 10.3% but leather goods sag http://www.globalpost.com/dispatch/news/afp/130422/hermes-says-q1-sales-gain-103-leather-goods-sag <div class="field field-type-text field-field-byline1"> <div class="field-items"> <div class="field-item odd"> Agence France-Presse </div> </div> </div> <!--paging_filter--><p>French luxury goods group Hermes said Monday that its first-quarter sales gained 10.3 percent on strong demand from Asia but noted weaker growth in sales of its iconic leather goods.</p> <p>Overall sales came to 856.8 million euros ($1.1 billion), a statement said, with a jump of 17 percent in Asian countries excluding Japan, where they were 7.0 percent stronger, and a 12.0 percent jump in Europe, "despite a very high basis of comparison and a dull economic climate."</p> <p>In the Americas, sales gained 11.0 percent, the statement added.</p> <div class="field field-type-text field-field-wire-copyright"> <div class="field-items"> <div class="field-item odd"> <p><a href="http://www.afp.com/" class="button wire afp"></a></p> <p><a href="http://www.globalpost.com/terms-use#afp"><span>Copyright AFP, 2013.</span></a></p> </div> </div> </div> <p><a href="http://www.globalpost.com/dispatch/news/afp/130422/hermes-says-q1-sales-gain-103-leather-goods-sag" target="_blank">read more</a></p> Brand management Goods HERMES INTERNATIONAL Luxury good AFP Mon, 22 Apr 2013 08:00:48 +0000 Agence France-Presse 5822057 at http://www.globalpost.com Global sales of luxury goods expected to slow in 2013 after 3 years of double-digit growth http://www.globalpost.com/dispatch/news/the-canadian-press/130516/global-sales-luxury-goods-expected-slow-2013-after-3-years-d <div class="field field-type-text field-field-byline1"> <div class="field-items"> <div class="field-item odd"> The Canadian Press </div> </div> </div> <!--paging_filter--><p>MILAN - A study says global sales of luxury goods are off to a slow start in 2013 and aren't expected to match the double-digit growth of the last three years.</p> <p>Consultancy Bain </p> <p>Exchange rate fluctuations, particularly the sharp devaluation of the yen, have had a negative impact on sales, specifically deterring spending by Japanese tourists.</p> <p>Demand this year will be sustained mainly by young people with high incomes, the report said.</p> <p><a href="http://www.globalpost.com/dispatch/news/the-canadian-press/130516/global-sales-luxury-goods-expected-slow-2013-after-3-years-d" target="_blank">read more</a></p> Business Luxury good The Canadian Press Thu, 16 May 2013 14:01:30 +0000 The Canadian Press 5839311 at http://www.globalpost.com Luxury home sales impacted less by mortgage rule changes, experts say http://www.globalpost.com/dispatch/news/the-canadian-press/130712/luxury-home-sales-impacted-less-mortgage-rule-changes-expert <div class="field field-type-text field-field-byline1"> <div class="field-items"> <div class="field-item odd"> The Canadian Press </div> </div> </div> <!--paging_filter--><p>TORONTO - Ottawa's tightened mortgage rules seem to have had less of an impact on high-end real estate than on the overall market, according to experts.</p> <p>"Most people who are going to buy a $3-million to $5-million house usually have access to the funds," said Elli Davis, a sales representative with Royal LePage in Toronto. "They don't really care if they pay a touch more."</p> <p>In July 2012, Finance Minister Jim Flaherty made changes to Canada's mortgage rules in a bid to cool down an overheated real estate market.</p> <div class="field field-type-text field-field-wire-copyright"> <div class="field-items"> <div class="field-item odd"> <p><a href="http://www.globalpost.com/terms-use#cp">Copyright 2013 Canadian Press.</a></p> <p>All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.</p> </div> </div> </div> <p><a href="http://www.globalpost.com/dispatch/news/the-canadian-press/130712/luxury-home-sales-impacted-less-mortgage-rule-changes-expert" target="_blank">read more</a></p> Business Calgary Luxury good Sotheby's International Realty The Canadian Press Fri, 12 Jul 2013 13:33:07 +0000 The Canadian Press 5882368 at http://www.globalpost.com Luxury goods sales slowed by China drag as high-end consumers cut domestic purchases http://www.globalpost.com/dispatch/news/the-canadian-press/131029/luxury-goods-sales-slowed-china-drag-high-end-consumers-cut- <div class="field field-type-text field-field-byline1"> <div class="field-items"> <div class="field-item odd"> The Canadian Press </div> </div> </div> <!--paging_filter--><p>MILAN - Chinese shoppers are cutting back on designer duds, leather handbags and pricey watches, putting a drag on global sales of luxury goods, which a study forecasts to expand just 2 per cent this year.</p> <p>The analysis released Monday by Bain </p> <p>Sales of luxury goods in China are expected to grow by just 2.5 per cent, to 15.3 billion euros, as a result of an anti-corruption crackdown that has slowed gift-giving and a tendency by Chinese tourists to shop abroad, Bain said.</p> <div class="field field-type-text field-field-wire-copyright"> <div class="field-items"> <div class="field-item odd"> <p><a href="http://www.globalpost.com/terms-use#cp">Copyright 2013 Canadian Press.</a></p> <p>All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.</p> </div> </div> </div> <p><a href="http://www.globalpost.com/dispatch/news/the-canadian-press/131029/luxury-goods-sales-slowed-china-drag-high-end-consumers-cut-" target="_blank">read more</a></p> Brand management Goods Luxury good Technology The Canadian Press Tue, 29 Oct 2013 05:26:50 +0000 The Canadian Press 5973544 at http://www.globalpost.com European stock markets fall http://www.globalpost.com/dispatch/news/afp/131126/european-stock-markets-fall <div class="field field-type-text field-field-byline1"> <div class="field-items"> <div class="field-item odd"> Agence France-Presse </div> </div> </div> <!--paging_filter--><p>European equities fell on Tuesday, with the alcoholic drinks sector hit ahead of the festive season by a profits warning from French giant Remy Cointreau.</p> <p>London's benchmark FTSE 100 index dropped 0.87 percent to close at 6,636.22 points, Frankfurt's DAX 30 slid 0.11 percent to 9,290.07 points, while the CAC 40 in Paris gave up 0.57 percent to 4,277.57 points.</p> <p>Remy Cointreau warned that slowing spirits sales in China would hit annual earnings, and posted a 20-percent slump in first-half net profits.</p> <div class="field field-type-text field-field-wire-copyright"> <div class="field-items"> <div class="field-item odd"> <p><a href="http://www.afp.com/" class="button wire afp"></a></p> <p><a href="http://www.globalpost.com/terms-use#afp"><span>Copyright AFP, 2013.</span></a></p> </div> </div> </div> <p><a href="http://www.globalpost.com/dispatch/news/afp/131126/european-stock-markets-fall" target="_blank">read more</a></p> Japanese yen Luxury good Remy AFP Tue, 26 Nov 2013 17:46:30 +0000 Agence France-Presse 6000627 at http://www.globalpost.com China's graft crackdown hits watches, luxury market http://www.globalpost.com/dispatch/news/afp/131218/chinas-graft-crackdown-hits-watches-luxury-market <div class="field field-type-text field-field-byline1"> <div class="field-items"> <div class="field-item odd"> Agence France-Presse </div> </div> </div> <!--paging_filter--><p>Luxury watch sales fell in the key Chinese market this year in the face of a crackdown on corruption and extravagance, a global consultancy said.</p> <p>Watches account for over one fifth of China's domestic luxury market and dropped by 11 percent to 27 billion yuan ($4.5 billion) in 2013, Bain &amp; Company said in a report.</p> <p>China's luxury market has boomed in recent years on the back of its economic rise, but overall sales grew a mere two percent this year to 116 billion yuan, it said, a shadow of the 30 percent growth recorded in 2011.</p> <div class="field field-type-text field-field-wire-copyright"> <div class="field-items"> <div class="field-item odd"> <p><a href="http://www.afp.com/" class="button wire afp"></a></p> <p><a href="http://www.globalpost.com/terms-use#afp"><span>Copyright AFP, 2013.</span></a></p> </div> </div> </div> <p><a href="http://www.globalpost.com/dispatch/news/afp/131218/chinas-graft-crackdown-hits-watches-luxury-market" target="_blank">read more</a></p> Brand management Goods Luxury good AFP Wed, 18 Dec 2013 08:02:42 +0000 Agence France-Presse 6023283 at http://www.globalpost.com European stocks rally on bright World Bank outlook http://www.globalpost.com/dispatch/news/afp/140115/european-stocks-rally-bright-world-bank-outlook <div class="field field-type-text field-field-byline1"> <div class="field-items"> <div class="field-item odd"> Agence France-Presse </div> </div> </div> <!--paging_filter--><p>European stocks rose on Wednesday as the World Bank declared the global economy was at a turning point, while the luxury goods sector was boosted by sparkling results from Burberry.</p> <p>Sentiment was also bolstered by German economic growth data and positive US retail sales numbers.</p> <p>London's FTSE 100 index of top companies added 0.35 percent to stand at 6,790.43 points and in Paris the CAC 40 won 0.58 percent to 4,299.12 nearing midday deals.</p> <p>Frankfurt's DAX 30 index rallied 1.07 percent to 9,642.84 points, compared with Tuesday's closing values.</p> <div class="field field-type-text field-field-wire-copyright"> <div class="field-items"> <div class="field-item odd"> <p><a href="http://www.afp.com/" class="button wire afp"></a></p> <p><a href="http://www.globalpost.com/terms-use#afp"><span>Copyright AFP, 2013.</span></a></p> </div> </div> </div> <p><a href="http://www.globalpost.com/dispatch/news/afp/140115/european-stocks-rally-bright-world-bank-outlook" target="_blank">read more</a></p> Luxury good Stock market AFP Wed, 15 Jan 2014 14:02:52 +0000 Agence France-Presse 6043697 at http://www.globalpost.com European stocks rally on bright World Bank outlook http://www.globalpost.com/dispatch/news/afp/140115/european-stocks-rally-bright-world-bank-outlook-0 <div class="field field-type-text field-field-byline1"> <div class="field-items"> <div class="field-item odd"> Agence France-Presse </div> </div> </div> <!--paging_filter--><p>European stocks rose on Wednesday as the World Bank declared the global economy was at a turning point, while the luxury goods sector was boosted by sparkling results from Burberry.</p> <p>Sentiment was also bolstered by solid German economic growth data and positive US retail sales numbers.</p> <p>London's FTSE 100 index of top companies added 0.67 percent to stand at 6,812.11 points and in Paris the CAC 40 won 0.83 percent to 4,309.74 in afternoon deals.</p> <p>Frankfurt's DAX 30 index rallied 1.52 percent compared with Tuesday's closing values to 9,685.05 points.</p> <div class="field field-type-text field-field-wire-copyright"> <div class="field-items"> <div class="field-item odd"> <p><a href="http://www.afp.com/" class="button wire afp"></a></p> <p><a href="http://www.globalpost.com/terms-use#afp"><span>Copyright AFP, 2013.</span></a></p> </div> </div> </div> <p><a href="http://www.globalpost.com/dispatch/news/afp/140115/european-stocks-rally-bright-world-bank-outlook-0" target="_blank">read more</a></p> Luxury good Stock market AFP Wed, 15 Jan 2014 15:32:04 +0000 Agence France-Presse 6043796 at http://www.globalpost.com Luxury euro hurts Richemont sales http://www.globalpost.com/dispatch/news/afp/140116/luxury-euro-hurts-richemont-sales <div class="field field-type-text field-field-byline1"> <div class="field-items"> <div class="field-item odd"> Agence France-Presse </div> </div> </div> <!--paging_filter--><p>Richemont, the world's second-largest luxury goods firm that owns Cartier and Montblanc, said on Thursday that the strength of the euro hit its sales in the final quarter of last year.</p> <p>Sales hit 2.9 billion euros ($3.9 billion) in the quarter, a 9.0-percent gain in local currencies, but only three percent when converted into euros, the Swiss group said.</p> <p>For the nine months of its non-standard fiscal year, sales were up by 9 percent in local currency to 8.2 billion euros, but only up 4 percent in euros.</p> <p>The sales were slightly below analyst expectations.</p> <div class="field field-type-text field-field-wire-copyright"> <div class="field-items"> <div class="field-item odd"> <p><a href="http://www.afp.com/" class="button wire afp"></a></p> <p><a href="http://www.globalpost.com/terms-use#afp"><span>Copyright AFP, 2013.</span></a></p> </div> </div> </div> <p><a href="http://www.globalpost.com/dispatch/news/afp/140116/luxury-euro-hurts-richemont-sales" target="_blank">read more</a></p> Luxury good Richemont AFP Thu, 16 Jan 2014 13:18:28 +0000 Agence France-Presse 6044759 at http://www.globalpost.com