Worldwide luxury-goods sales could increase this year at the slowest pace since 2009 as spending falls for the first time in China and turmoil in Hong Kong and Russia curbs tourist consumption.
MILAN, Italy — Sales of luxury goods are expected to grow more slowly in 2014 compared with last year as weakness in China, Russia and Europe counters rising global tourist shopping and strong demand in Japan and the United States, a study said on Monday.
PARIS, France — Luxury-goods makers need to better differentiate their products and the way they sell them or risk being left behind, according to consultant Bain & Co.
SHANGHAI, China — Over two-thirds of luxury spending by mainland Chinese was made overseas in 2013, an increase from 2012, according to the China Luxury Market Study from consultancy firm Bain & Company released on Monday.
PARIS, France — Worldwide luxury-goods sales will expand at the slowest pace since 2009 this year as slack Chinese consumption and the weakness of the Japanese yen weigh on growth, according to an estimate from Bain & Co.
NEW YORK, United States — Neiman Marcus Inc.’s new private-equity owners are buying a luxury chain that’s in danger of running out of room to expand in the U.S. as even well-heeled shoppers pull back. Ares Management LLC and the Canada Pension Plan Investment Board agreed today to buy the U.S. department store company from TPG Capital and Warburg Pincus LLC for $6 billion.
SHANGHAI, China — China's e-commerce market is expected to leapfrog that of the United States this year to become the world's largest by total customer spending, management consultancy firm Bain & Company says, and could account for half of all Chinese retail spending within a decade.
NEW YORK, United States — Strong demand for Michael Kors' luxury goods again propelled profit in its latest quarter, and the clothing, accessories and handbag maker lifted its outlook for the year.
The Philippines has long been overshadowed by its larger neighbours and underestimated by international fashion brands. Now the country is reporting faster economic growth than China. BoF reports.
PARIS, France — Growth in sales of luxury goods is expected to ease slightly this year, hit by subdued spending in Europe and slower growth in China, consultancy Bain & Co said in a study on Thursday.
Luxury goods to slow as Chinese spend less (FT) “Growth in the luxury goods market will slow this year as Chinese consumers spend less at home and give fewer gifts as they await the imminent change in Beijing’s government, according to the consultancy Bain & Co.” Artful Fashion Meets Fashionable Art at Fairs (IHT) “As art fairs and festivals bring a cosmopolitan crowd to London and Paris, a different question