Industry Summits
Luxury sellers tap new doors for raw materials
NEW YORK (Reuters) - From breeding their own crocodiles to tapping new low-cost centers for raw materials, luxury retailers are stepping up efforts to improve sourcing of goods, labor and expertise in the global economic slowdown. Full Article
China's luxury market can be tough to crack
PARIS/LONDON (Reuters) - China may become the world's biggest luxury market in some years but cultural challenges to win customers' hearts for certain types of products remain, industry executives said this week. Full Article
Luxury groups set to hunker down as moderation rules
PARIS/LONDON (Reuters) - Luxury goods groups need to brace themselves for at least two more years of pain, with big-ticket items such as cars and watches suffering most, even if some U.S. brands and retailers are seeing signs of recovery. Full Article
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Recession brings hagglers to Tiffany
NEW YORK (Reuters) - In style this recession -- haggling at Tiffany & Co. Full Article
Dubai to build arts and fashion districts
DUBAI (Reuters) - Dubai Culture and Arts Authority said on Wednesday it was aiming to build a fashion and design district and change legislation to persuade foreign artists to take up residence in a new arts neighborhood. Full Article
Roberto Coin sees jewellery pickup in 2011
LONDON (Reuters) - The jewelry industry will only see a pickup in 2011 with this year being the "worst," Italian jewelry designer Roberto Coin said on Wednesday. Full Article
Luxury groups use movies, dinners to boost image
PARIS (Reuters) - Luxury groups are turning to films, the Internet and private dinners to attract customers as they search for more cost-effective ways to advertise to fight falling sales, executives told the Reuters Global Luxury Summit. Full Article
It's all about distribution, luxury execs say
PARIS (Reuters) - Luxury goods groups with their own network of shops are weathering the downturn better than those relying on wholesalers or third-party distributors, executives told the Reuters Global Luxury Summit in Paris. Full Article
China to overtake Italy for Lamborghini: CEO
PARIS (Reuters) - China will overtake Italy as the second-biggest market behind the United States for iconic sportscar maker Lamborghini within three to five years, the group's chief executive said on Wednesday. Full Article
Lamborghini sees no recovery until 2011
PARIS (Reuters) - Luxury sports carmaker Lamborghini sees no recovery in its markets until 2011 after a 30 percent drop in sales in the first five months of this year, Chief Executive Stephan Winkelmann said on Wednesday. Full Article
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