Silk scarves by Hermès | Source: Hermès

Luxury goods industry on track for recovery (FT)
“The luxury goods industry will return to growth next year while the decline in 2009 will be less severe than expected thanks to strong sales in Asia, especially China, according to a study published on Monday.”

Wealthy U.S. Shoppers Boost Spending 29 percent, Survey Says (Bloomberg)
“Spending in the U.S. on luxury goods and services spurted 29 percent in the third quarter from the previous three months, as consumers with the highest incomes unleashed pent-up demand, according to Unity Marketing.”

France Aims to Address Woes of Nation’s Fashion Artisans (WSJ)
“France’s specialized embroiderers, seamstresses, tailors and hatmakers – once the backbone of a thriving fashion business – are today among the hardest-hit victims of the global slowdown in luxury goods sales. As fashion houses cancel orders and cut costs, these small businesses are now turning to the French government for help.”

Indians are not aiming for a Prada (Mumbai Mirror)
“The Indian customer spends very differently from her Western counterpart. There, they would live on mortgage but splurge on a designer bag. How many people would do that here? Despite the aspiration and affluence, let’s face it, Indians are still not aiming for a Prada yet,” she admits.”

Aboriginal artist gives fashion house a good wrap (Sydney Herald)
“Everything takes time at the French luxury firm of Hermès: celebrities wait months for their Birkin and Kelly bags, named for the actresses that inspired them. And so it is 64-year-old Aboriginal artist Gloria Petyarre has waited a long time to receive her own Hermes La Reve de Gloria scarf – the one she created.”