Asia & luxury once slotted together as well as Cinderella and the glass slipper, but as China’s economic situation deteriorated, is this still true?» Read More
Research shows that despite their high profile, the young rich are a minority and the wealthy are actually getting older., The NY Times reports.
*Ferrari starts trading on NYSE at $60. NEW YORK/ MILAN, Oct 21- Ferrari shares jumped 15 percent to $60 on its Wall Street debut on Wednesday after the Italian supercar maker priced its share offering at the top of the range amid heavy investor demand. Ferrari Chief Executive Amedeo Felisa and Chairman Sergio Marchionne were at the New York Stock Exchange to ring...
PARIS/ HONG KONG/ NEW YORK, Oct 13- Chinese luxury consumers are spending more on ready-to-wear and new labels, a notable shift in the behaviour and tastes of the world's top spenders, a Reuters survey of retailers in the United States, Asia and Europe showed. Analysts estimate more than two thirds of luxury purchases by Chinese buyers is done overseas, mainly in...
Oct 12- Fiat Chrysler Automobiles is selling 10 percent of luxury carmaker Ferrari later this month. *FCA will sell up to 10 percent of Ferrari at $48- $52 a share, assigning the luxury sportscar maker a market capitalisation of up to $9.8 billion. *FCA currently owns 90 percent of Ferrari, with the remaining 10 percent held by Piero Ferrari, vice chairman and son of the...
Ferrari expects its U.S. IPO to be priced in a range of between $48 and $52 per share, which could value the company at up to $9.8 billion.
*Drop in tourists from China hits sales. HONG KONG, Oct 2- Hong Kong retail sales fell for the sixth straight month in August as a drop-off in tourist arrivals from mainland China and its economic slowdown took a bite out of the luxury goods business. On Wednesday, Financial Secretary John Tsang told Reuters that Hong Kong is looking at a "new normal" economic growth...
HONG KONG, Sept 30- Famed diamond supplier De Beers expects the value of its sales of the polished jewel in China may rise this year by just over a tenth of 2011' s surge, as the economy that has long bolstered global luxury goods heads for its weakest growth in 25 years. "The bridal business and the gifting business, particularly amongst younger consumers in China, is...
Ahead of Thursday's start to the spring fashion shows, here are the best- and worst-performing stocks with ties to the runways.
June 15- Hong Kong stocks dropped sharply on Monday, taking cues from weak China and global markets and ahead of a politically sensitive vote this week that could spark mass protests. Hong Kong stocks tracked losses in China, whose markets fell 2 percent on Monday over IPO and margin tightening worries. Prada SpA shares fell 4.9 percent, reaching the lowest level...
Investors dumped shares of Prada on Monday following an ugly earnings report, which prompted brokerages to slice their price target for the stock.
Despite all the talk about dead malls, there are still those that hear the registers ring. America's top 10 malls, by sales by square feet.
Through international turmoil, retailers are staying the course in expanding their brands overseas.
Asian stocks outside Australia recovered from a lackluster open to rise on Monday as a modestly positive lead from Wall Street offset the impact of sliding oil prices.
Prada reported a 28 percent fall in its 2014 net profit, as growing retail sales in the Americas and Japan failed to offset declines in China and Europe.
European equities closed mixed on Friday, but lower on the week, as investors mulled the growing conflict in Yemen.
Some fashion firms have seen their shares rise by nearly 50 percent in the past year; others have had their stock prices plummet.
Categorizing shoppers by their age, sex and net worth isn't enough to get a real gauge on luxury buyers.
Shares of Italian fashion house Prada have lost over a third of their value this year, raising questions over whether the brand is going out of style.
The luxury sector hit a soft patch recently, but the stage is set for a recovery. Jewelry, in particular, may glow for investors.
Prada chairwoman Miuccia Prada and her husband are being investigated by Italian authorities over past taxes.