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India’s Luxury Market May Grow to $15B by 2015
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India’s luxury market is expected to grow 25 percent in 2013 and at that same rate for the next two years, up from the current level of $8 billion and irrespective any global economic slowdown, according to a study by ASSOCHAM-Yes...
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Retail
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Feb 06, 2013
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Dilipp S Nag
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India Retail Outlook Turns Negative as Consumption Wanes
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The outlook for the Indian retail sector in 2013 remains negative, driven by continuing weakness in consumer spending due to rising inflation, marginal real wage growth and a weak macroeconomic environment, projects India Ratings, a Fitch...
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Retail
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Jan 16, 2013
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Dilipp S Nag
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Polished Markets
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Jan 14, 2013
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Dilipp S Nag
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Inadequate Infrastructure Stifles India’s Luxury Industry
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The lack of adequate infrastructure is a key barrier confronting the growth of luxury goods industry in India, according to a joint survey by ASSOCHAM and Yes Bank. This was opined by a whopping 95 percent of chief executives representing the global...
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Retail
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Nov 27, 2012
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Dilipp S Nag
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Retail
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Oct 04, 2012
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Dilipp S Nag
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U.S. Chain-Store Sales +2%
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U.S. chain-store sales rose 2.4 percent year on year for the week that ended on August 4, according to the International Council of Shopping Centers (ICSC) and Goldman Sachs. However, on a week-to-week basis, comparable-store sales were...
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Retail
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Aug 07, 2012
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Avi Krawitz
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U.S. Luxury Consumer Spending -27% in 2Q12
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Unity Marketing revealed that wealthy U.S. consumers are growing more nervous about their financial status and dramatically reduced spending in the second quarter. The research and marketing firm will release its...
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Marketing
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Aug 06, 2012
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Jeff Miller
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Richemont Expects Profits to Soar in 1H
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Swiss luxury group Richemont said it expects profits to rise between 20 percent and 40 percent in the six months that end on September 30, 2012 as sales have surged so far this year. The company reported...
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Retail
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Aug 06, 2012
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Avi Krawitz
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Pawngo Establishes New Luxury Assets Division
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Pawngo announced a new luxury assets division to complement its trading in high-end goods such as diamonds, jewelry and luxury watches. Pawngo stated the new division will offer a more personalized experience to its online customers....
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Marketing
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Jul 11, 2012
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Jeff Miller
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Chinese Caution
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China’s current ‘Year of the Dragon’ appears to have lost some of its fire as investors and analysts view China’s economy with increasing caution. Chinese diamond buyers have picked up on that sentiment and are holding...
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Retail
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Jul 06, 2012
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Avi Krawitz
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India’s Wealthy Consumers Continue to Spend Despite Weak Economy
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India’s ultra-high-net-worth individuals (HNIs) have not curtailed their spending on luxury items due to the current economic slowdown, but they have turned cautious regarding their investments, according to a study conducted by Kotak Wealth Management...
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Research
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Jul 03, 2012
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Dilipp S Nag
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Harry Winston's 1Q Revenue +34%, Profit Jumps to $12M
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Harry Winston Diamond Corporation reported first quarter sales rose 34 percent year on year to $192.5 million for the three months that ended on April 30, 2012. Mining segment sales jumped 44 percent to $89 million...
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Financial-Legal
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Jun 06, 2012
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Jeff Miller
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Gitanjali Opens Luxury Jewelry Store in Mumbai
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Gitanjali Group recently opened a luxury store Giantti at Grand Hyatt hotel in Mumbai. The new store was also the setting for the company's first launch of the Nakshatra collection, which was unveiled by Katrina...
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Retail
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May 25, 2012
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Dilipp S Nag
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Richemont's FY Sales +29%, Profit +43%
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Richemont reported that group sales rose 29 percent year on year to $11.39 billion (EUR 8.87 billion) during the retailer's fiscal year that ended on March 31. Revenue growth was driven by higher demand from...
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Retail
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May 16, 2012
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Dilipp S Nag
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Harry Winston's 4Q Sales Flat on Weak Retail
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Harry Winston reported that consolidated sales were flat at $216 million in the fourth fiscal quarter that ended on January 31, 2012 as its retail performance slumped during the period, which included Christmas. Group...
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Rough Markets
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Apr 05, 2012
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Avi Krawitz
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PPR's Revenue +11%, Profit +2% in 2011
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Luxury group PPR reported that revenue in 2011 rose 11 percent year on year to $16 billion (EUR 12.23 billion). Net income rose 2.3 percent to $1.3 billion (EUR 986 million) or EUR 7.82 per share....
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Retail
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Feb 16, 2012
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Jeff Miller
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Luxury Consumers Lack Commitment, Spending Falls
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The results from Unity Marketing's exclusive survey of U.S. luxury consumer confidence and spending challenge the conclusion that the luxury retail sector is really on the mend. Luxury consumer confidence, as measured in the Luxury...
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Marketing
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Feb 15, 2012
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Jeff Miller
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Pandora Leads a Paradigm Shift Jewelers Cannot Ignore
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In Unity Marketing's latest "Luxury Tracking" survey, which the research group conducted in January 2012, jewelry brand Pandora emerged as the second-ranked luxury jewelry brand, trailing only Tiffany & Co. Nonetheless, Unity's president...
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Marketing
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Feb 14, 2012
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Jeff Miller
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Tiffany in Talks to Enter India
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Tiffany & Co. is close to forging a partnership in order to enter India, the Economic Times reported. The luxury jeweler is said to be discussing a 51 percent joint venture with former actress Reena Wadhwa, who currently has a joint...
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Retail
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Jan 24, 2012
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Rapaport News
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Diamonds and Dragons
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There may be some irony in China’s current economic juncture. Just as the country enters the “Year of the Dragon,” said to be the mightiest of the Chinese zodiac signs, its economic fire seems to have lost some...
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Polished Markets
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Jan 20, 2012
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Avi Krawitz
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