South Korea Powers Up Duty-Free Sales as China Tourism Magnet

A woman leaves a shopping mall in central Seoul | Source: Reuters

Already the world’s biggest duty-free market, South Korea said on Wednesday it will issue more licenses for downtown duty-free shops, doubling down on a strategy that has helped it outstrip regional rivals seeking to reel in shopaholic Chinese tourists.

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Russia’s VTB Capital Closes in on Roberto Cavalli

Italian designers Roberto and Eva Cavalli | Source: Reuters

VTB Capital, the investment arm of sanctioned Russian lender VTB Bank, has made a cash payment to secure a deal to buy most of Italian fashion house Roberto Cavalli before the end of November, two sources familiar with the situation said.

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Swiss Army Knife Maker Victorinox Bets on Own Stores

Victorinox store | Source: Shutterstock

Victorinox will open a 220 square-meter (2,370 square-foot) store tomorrow on Bahnhofstrasse, Zurich’s main shopping street, coinciding with this year’s 130th anniversary. Rubbing shoulders with Cartier and Apple boutiques, the opening ends the family- owned company’s eight-year search for the location.

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