Qatar Investment Authority agreed to pay about HK$4.78 billion ($616 million) for a stake in a Hong Kong department store operator as the sovereign wealth fund diversifies its global portfolio.
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.
Imagine a Christmas shopping season with closed stores and customers stranded because cabs are nowhere in sight. For retailers of Fendi bags and Rolex watches in Hong Kong, pro-democracy protests wreak havoc during one of the busiest times of the year, the China National Day holidays known as Golden Week.
Using a combination of word-of- mouth and advertising, Alibaba Group Holding Ltd. is tapping the millions of Chinese outside its homeland from Singapore to San Francisco to accelerate global expansion.
While leveraging Key Opinion Leaders (‘KOLs’) in China can be a useful marketing tool, luxury brands must do their homework if they expect to see real results, argues Avery Booker.
Revenue from US customers like Target helped lift Li & Fung’s first-half profit by 16 percent.
Prada SpA, the Milan-based luxury handbag maker, posted the slowest half-yearly sales growth in three years as demand weakens in some Asian countries and in Europe amid economic and political uncertainties.