China to Place Consumption Tax on More Luxury Goods

Beijing's Sanlitun Shopping Centre | Source: Shutterstock

BEIJING, China — China will widen the scope of its consumption tax to include more luxury goods, the official Xinhua News Agency reported, a sign that some high-end brands may become more expensive for purchasers on the mainland.

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A $38,000 Handbag? For World’s Ultra-Rich, the Cost of Accessories Can Be Astronomical

Oprah Winfrey | Source: Associated Press

ZURICH, Switerland — In the upscale boutiques of Singapore, New York or Zurich — where Oprah Winfrey claims a sales clerk refused to show her a $38,000 bag — purses priced in the four figures are common.

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Arnault Lets Them Eat Cake Amid Luxury Hospitality Push

Maison Cheval Blanc - Courchevel | Source: LVMH

PARIS, France — French billionaire Bernard Arnault wants you to spend the night and eat his pastries. After decades of acquiring luxury goods that consumers can drink and wear, the chairman of LVMH Moet Hennessy Louis Vuitton SA last week bought a five-star hotel in St. Barths and in June added a storied Milanese cafe, accelerating his push to meet all his well-heeled clients’ earthly needs.

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Long Overlooked, the Flourishing Philippines

Jacket and tie in the Philippines' national colours | Source: Ayala Land, Inc.

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.

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Singapore’s Luxury Malls Face Off in IPO Contest

Paragon Shopping Centre, Singapore | Source: Shutterstock

SINGAPORE — Facing each other across Singapore’s Orchard Road shopping belt, the malls owned by Singapore Press Holdings Ltd. and Overseas Union Enterprise Ltd. have competed for shoppers. Now, they will compete for investors.

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