Luxury retailers are getting pinched, as the economic slowdown and stock market volatility in China dampen spending among wealthy consumers. CNBC's Courtney Reagan reports.» Read More
LVMH, the French luxury goods conglomerate, is to take a controlling stake in Bulgari, the Italian jewelry house, in an all-share deal, the Financial Times reported.
Expect to see billowy silhouettes, ethnic prints, '40s and '70s looks, longer hemlines and utilitarian-style outerwear when you shop for clothes this fall. That was the word from merchants ranging from mid-range department store Macy’s to tony Saks Fifth Avenue and online marketplace eBay, summing up the key themes that emerged during Fashion Week earlier this month.
Greater China may represent a significant portion of sales for leading luxury brands Louis Vuitton, Gucci and Bulgari, but Aaron Fischer, regional head of consumer research at CLSA Asia Pacific Markets, believes Hong Kong-listed retailers are better positioned to capture the mainland’s demand for high-end merchandise.
Nordstrom's decision to acquire online retailer HauteLook is just the latest example of the shake-up that is going in the designer goods market. Fashion designers are scrambling to play catch up with their online strategies now that more luxury customers are demanding it.
It's probably the number one auto question I get this time of year. No, it's not about what new models will pop up at the Detroit Auto Show in January.
Luxury yoga-wear manufacturer Lululemon, soaring on a blowout quarter, garnered a “neutral” rating from one analyst and an “outperform” from another on CNBC Thursday. Why?
Few companies were clobbered harder than Starbucks in the recession. The coffee chain with outposts on every corner came to represent all that was wrong with American businesses and shoppers: unchecked expansion, self-indulgence and mindless credit-card swiping.
NYU's Stern School of Business Dean Peter Henry believes the recovery will be slower in the US and other advanced economies, where discretionary spending has cooled, while emerging markets—and their newly discovered taste for fine goods—will bounce back more quickly.
Luxury consumers are more willing to indulge this holiday season, but they are doing so with value in mind, according to Ronald Boire, president and CEO of retailer Brookstone.
Forget entertaining clients in karaoke bars. These days, Chinese businessmen are more likely to be talking deals on luxury boats.
When buying a boat, there is but one fundamental principle to follow, according to those who already have some cash moored somewhere nice: enjoy it.
The well-made Italian suit found its way on the backs of more and more affluent Chinese men this year, as China topped the US in sales from luxury suit maker Ermenegildo Zegna Group.
Just in time for the holidays, it looks like the luxury consumer is back. “We’ve been hearing that luxury goods sales globally, have been accelerating, and it’s in all categories, whether it is watches and jewelry or whether it is fashion and leather goods," said Dana Telsey, chief information officer at Telsey Advisory Group, in an interview on CNBC. "The demand is there.”
Coach shares reached its highest since 2007 on Tuesday after the luxury retailers trumped analyst expectations, posting a 34 percent growth in quarterly earnings. The brand's Chief Executive Lew Frankfort tells CNBC how they did it and what's in store for the future.
Coach has confirmed that global luxury brands are in good shape. Coach reported astonishing numbers, well above expectations (gross margins of 74.2%!) with strength not just in Asia but also in the U.S.
The currency wars that are dominating the attention of the world’s central bankers are also playing out in the niche world of luxury goods.
Vintage or antique timepieces can fetch extraordinary prices, but they better possess unique and still functional features, be in scarce supply, carry a distinguished brand name and be in near-mint condition.
Art Deco is a style of fine jewelry whose worth remains solid whether or not the economy is dipping or climbing. Naturally, its prices rise when times are flush.
The luxury sector is rebounding better-than-expected this year thanks in large part to wealthy Americans replenishing their wardrobes after a year of self-denial and nouveau riche Chinese indulging in a worldwide spending spree, according to a new study released Monday.
Sales growth has accelerated over the past three quarters at Italian fashion brand Salvatore Ferragamo, signalling an improvement in the crisis-hit luxury goods market, but currency movements and a shaky economy pose a major concern for 2011, the group’s CEO told CNBC on Thursday.