Posted by Barry Silverstein on October 22, 2010 02:40 PM
Executives at such luxury brands as Burberry, Louis Vuitton, and Versace can breathe a sigh of relief. The annual luxury market study by leading consultant Bain & Company is bullish on high-end goods, predicting a strong 2011. According to Bain, sales of global luxury goods should break the 2007 record next year.
Not surprisingly, demand by Chinese consumers for luxury goods — some call it "label lust" — will drive the uptick, with growth of as much as 30 percent. Europe will see a 6 percent rise, while Japan will recover more slowly. The U.S. luxury goods market, which dropped 15 percent this year, may see a 12 percent increase in 2011.
Luxury goods marketers were positively giddy at the news. Santo Versace, chairman of the Italian fashion brand Versace and chair of Altagamma, an Italian luxury goods association, proclaimed, "In the first half of this year we talked about a light at the end of the tunnel. On the basis of the preliminary 2010 figures, we can confirm that positive trend."
The latest figures from high-end marketers seem to support the Bain forecast. LVMH, owner of such brands as Burberry, Gucci, Krug, and Louis Vuitton, enjoyed a 14 percent increase in third quarter sales. Burberry, also an LVMH brand, reported that in the first six months of 2010, sales in its Chinese stores were up 25 percent.
Not all luxury goods will see improvement, however; Bain predicts that luxury yachts will likely experience a "double digit" decline in sales. Overall, Bain said, leather bags, jewelry, shoes and watches would be the biggest risers with an expected gain of around 8 percent next year.
Posted by Barry Silverstein on October 13, 2010 12:35 PM
While much of the blame falls on China for producing and selling counterfeit goods, it's rampant and widespread. Despite actions taken by such luxury brands as Christian Louboutin, Louis Vuitton, and Versace, knock-offs of brand name luxury goods continue to be sold openly on street corners in major cities around the world.
Take Malaysia, for example. In Bukit Bintang, the well-known shopping district of the capital city, Kuala Lumpur, vendors at temporary stalls hawk fakes of such brands as Chanel, Burberry, and Gucci. Faux branded jackets, perfumes, wallets, watches, and other merchandise is available at a fraction of the cost of the real thing.Continue reading...
Posted by Caroline Smith on September 27, 2010 12:00 PM
Sip in style! Evian Natural Spring Water unveils fouth annual limited edition bottle, designed by fashion legend Issey Miyake. It's available for $7.99 per bottle at evian.
Gucci launches a new interactive website, adding a touch of glamour to the world of social media.
The countdown to Christmas just got an upgrade, as Porsche unveils a $1 million advent calendar.
InStyle, Saks Fifth Avenue, Nars and Foursquare are collaborating on an interactive new promotion, allowing Saks shoppers to “check-in” at hot spots in the store and win prizes.
After the jump: Jimmy Choo, Ferragamo, Swarovski and more.Continue reading...
Posted by Shirley Brady on September 23, 2010 03:00 PM
If color is the new hemline indicator of the global economy, then things are definitely looking brighter for 2011.
Fashion editors and buyers thinking ahead to spring/summer 2011 have migrated from New York to London Fashion Week, which the New York Times' fashion critic Cathy Horyn summarized today as being all about one thing: "color." Now, they're searching their Italian dictionaries for adjectives to describe the hues on parade.
At yesterday's start to Milan Fashion Week, Gucci aimed for a show-stopper, above, with colors inspired by Morocco and bazaar-ready styles (harem pants, anyone?) Prada, meanwhile, also embraced glaring bright tones, which you can check out after the jump along with the Milan shows for Fendi, Dolce&Gabbana and Alberta Ferretti.Continue reading...
Posted by Dale Buss on September 23, 2010 09:00 AM
Facebook is growing fastest in Asia, reportedly developing smartphones for AT&T, while CEO Mark Zuckerberg is donating $100 million to improve schools in Newark, NJ, which he will announce on Oprah Winfrey's show tomorrow.
Blockbuster filed for bankruptcy this morning, says its 3,000 US stores will remain open.
Chanel cracks down on how its name is used.
Wal-Mart tries to unmask corporate foes that have slowed its growth in groceries.
Abbott recalls some Similac formula over potentially tainted packaging.
Adidas targets growth in Russia.
Apple's iPhone 4 finally goes on sale in China on Saturday.Continue reading...
Posted by Shirley Brady on September 21, 2010 06:30 PM
Twitter fixed a security bug that disabled its website version today, and plans to step up promoted tweets (as only one-fifth of its 160 million registered users follow brands or companies).
Adobe misses earnings forecast on sluggish sales.
AIG nears sale of two units to Prudential.
BlackBerry-maker RIM could unveil its tablet (nickname: the BlackPad) as early as next week.
Clorox unloads its STP and Armor-All brands.
DC Entertainment's non-publishing business is moving to Los Angeles as part of Time Warner shake-up.
Disney former executive assistant pleads guilty to insider trading charges.
GlaxoSmithKline sues Roche, Genentech over cancer drug patent.Continue reading...
best global brands
Posted by Shirley Brady on September 15, 2010 09:00 PM
Interbrand has released its 2010 ranking of the world's best global brands. The 11th annual assessment of the world's most successful brands for the first time doesn't include BP, which lost billions of dollars of value, and brand equity, due to the Gulf Oil spill.
"BP's environmental disaster and inability to make good on its brand promise of 'Beyond Petroleum' led to its falling off the list and helped competitor Shell emerge as an industry leader," Interbrand (the parent company of brandchannel) stated. As a result of BP's fall from grace, Shell is now ranked 81—up from 92 last year—in this year's standings.
Toyota, which also had a tough year in the wake of recall-related consumer mistrust, lost 16% of its brand value and fell out of the top 10, dropping from 8 to 11 as "its long-standing reputation for reliability, efficiency and innovation helped it weather the crisis better than expected.
Goldman Sachs, "once the envy of Wall Street," increased one position (from 38 to 37) and saw its brand valuation rise 1%. The financial services giant "faces the dichotomy of strong economic results and an angry public that will continue to lash out until the company begins to demonstrate that it is making sincere efforts to better align its ethics with its brand."
HP cracked into the top 10, making #10 "despite a challenging year" and for "smart additions to its product portfolio." Other tech brands, meanwhile, dominated the top five fastest gaining brands.Continue reading...
Posted by Dale Buss on August 24, 2010 09:00 AM
Apple gains more acceptance in business, winning corporate IT support for the iPad.
Chrysler faces pushback from US dealers who are wary of the expense of carrying a separate Fiat brand as the 500 model looms.
HP and Dell continue their battle over 3Par; struggle underscores the need for data storage the business world.
Barneys hires former Gucci CEO to revive the luxury-retail brand after a two-year talent search.
Benihana’s reports improved sales, thanks in part to stepped-up promotional activities at its restaurants.Continue reading...