Made-in-Asia Luxury Sheds Fake Image, Challenging Louis Vuitton

SHANGHAI, China — For decades, made-in-Asia luxury has been shorthand for “fake.” Now, companies from South Korean bag maker Couronne to Malaysian dressmaker Farah Khan are making a case for homegrown chic. Couronne, Khan and brands such as Woo, a Shanghai-based producer of silk scarves, are winning clients with products that can rival goods made in Europe. Their growing popularity, amid slowing sales at Louis Vuitton and other European brands, shows how demand is changing in Asia, with consumers favoring fresh designs over ubiquitous logos. The trend may lead to more acquisitions in the region as companies such as LVMH Moet Hennessy Louis Vuitton SA and PPR SA seek to boost growth. “Luxury brands of the 21st Century can come out…

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Luxury Spending in Europe Hit By Drop in Tourist Demand

Tourist shopper at Louis Vuitton boutique | Source: Reuters

PARIS, France — Most luxury goods groups will not publish first-quarter figures until at least later this month, but anecdotal evidence is growing of at least a temporary slowdown in spending by travelers, which analysts say could be linked to worries about the global economy and tax increases in Europe, as well as the tough stance taken by China's new president Xi Jinping on illegitimate gift-giving.

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Louis Vuitton Raised Most Non-Leather Handbag Prices, HSBC Says

Louis Vuitton, Shenzhen, China | Source: Richards Basmajian

PARIS, France — Louis Vuitton, which last month raised prices by an average 12 percent in Japan, has imposed similar increases on non-leather handbags in most of its main markets since the start of the year, according to HSBC.

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Dior Plans Encore Haute Couture Show in Shanghai

Dior Spring 2013 Haute Couture | Photo: The Business of Fashion

PARIS, France — For the first time since Raf Simons took the creative helm at Dior, the French fashion house is bringing its Haute Couture show to China, with an event to be held in Shanghai on March 30. The show will be a repeat outing of the Spring 2013 Haute Couture collection that was first presented in January during Paris Couture Week and marks the second couture show in China for Dior, which presented its Spring 2012 Haute

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Italian Police Seize Bulgari Executives’ Assets in Tax Probe

Bulgari Hotel, London | Source: Courtesy Photo

MILAN, Italy — Italian police seized more than 46 million euros ($59 million) of assets from executives linked to jeweler Bulgari including Francesco Trapani, who heads parent company LVMH Moet Hennessy Louis Vuitton SA’s watch and jewelry unit, for alleged tax evasion.

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Market Pulse | Staying the Course

Savigny Luxury Index February 2013 | Source: Savigny Partners

LONDON, United Kingdom — The Savigny Luxury Index (“SLI”) gained 2.7 percent in February, underperforming the MSCI World Index (“MSCI”) by over one percentage point. The SLI lost ground at the beginning of the month following the questions raised on sector growth by LVMH’s annual results announcement. Big news • Most analysts felt that LVMH’s organic growth numbers for 2012 were a bit lower than expected. This, combined with Mr.

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