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The high-end hotel landscape in China is undergoing a vibrant transformation, with a flurry of new establishments rising from the urban skyline to serene natural retreats. This dynamic boom is creating fresh opportunities for travelers, especially those from…
In a landscape marked by resilience and growth, the wealth of Filipino billionaires has captured the attention of the retail and investment sectors alike. As these influential figures expand their businesses and adapt to emerging consumer trends, their…
Prada’s deal to buy Versace revives hopes for a ‘made in Italy’ luxury champion after many other family-founded brands ended up in French, Swiss or US hands, and comes as many Italian groups are outperforming the struggling sector. The US$1.375 billion deal…
Hermes has posted double-digit sales growth for the fourth quarter and the full fiscal year, which management described as a solid performance in an “uncertain” environment. The company’s revenue surged 18 percent to €4 billion (US$4.2 billion), both on a…
Luxury auto sales in Thailand plunged 25% to 30,000 units last year as a struggling economy hurt buyers. The slow economic expansion rate (projected to be 2.4-2.7%) and banks’ tighter criteria for auto loans have resulted in a negative impact across the the…
LVMH has acquired an undisclosed minority stake in Swedish fashion brand Our Legacy, The Business of Fashion reported. The transaction comes following Our Legacy posting sales of €40 million (US$42.9 million) in the year ended June 30. Our Legacy will use the…
Luxury fashion house Dior has launched its revamped Galaxy Macau boutique, offering more exclusive shopping experiences. The store, located at one of the finest shopping locations, Galaxy Promenade, has two floors and offers a varied range of items such as…
Hermes has reopened its expanded store at Lee Gardens in Causeway Bay, Hong Kong. The store first opened in 1997 and is one of the luxury brand’s six stores in the metropolis. Hermes partnered with Parisian architecture agency RDAI for the expanded store’s…
French luxury house Hermes has reported a 16 percent growth in revenue to $14.46 billion for last year, with net profit surging 28 percent to $4.64 billion despite global demand for luxury goods slowing down. Sales in the fourth quarter ended December 30…
Without his knowledge, luxury car dealer Phan Cong Khanh has been accused of selling a customer’s luxury car for VND24.5 billion ($1.04 million). A person named Manh from the southern province of Kien Giang has complained to the police that he had lent his…
The focus of the luxury industry is shifting back to China, with hopes that its high-end spenders will once again splurge on designer goods during Lunar New Year festivities as Beijing relaxes Covid curbs after three long years. Quarterly results from LVMH…
Wealthy people are splurging millions of dollars to buy ultra-luxury apartments mostly as second homes. Hoa, owner of a house and a villa in HCMC’s Thu Duc City, said she recently bought a VND30-billion (US$1.3 million) apartment. Located on the 27th floor of…
Chinese authorities have seized hundreds of counterfeit belts bearing the Salvatore Ferragamo brand with the aid of Amazon’s Counterfeit Crimes Unit (CCU). The belt is one of Ferragamo’s most known accessories – its link-shaped buckle is used by the brand as…
Haxaco, a major Mercedes-Benz dealer, will focus on developing luxury car rental service this year besides its core business of car retail. In a recent annual meeting, its chairman Do Tien Dung said the firm has almost gained monopoly status in luxury car…
Swarovski has just opened its first Asian flagship store in HK Plaza, Shanghai. On the heels of the brand opening its Instant Wonder pop-up boutiques in 27 key locations around the world earlier this year, the Shanghai flagship will welcome customers into…
Ferrari has signed a multi-year accord with Swiss technology firm Velas Network to create digital content for its fans, the luxury sports car maker said on Monday. From next season, Velas, a provider of digital products and services, will become a partner of…
