Page 4 - Luxury

Singapore costliest city for luxury spending, Hong Kong, London follow

Singapore has continued to attract the ultra-wealthy by maintaining its reputation for political and economic stability

Luxury sales flattening amid self-inflicted creativity crisis, price hikes

The post-pandemic surge in global sales of luxury handbags, shoes and apparel is set to stall this year amid a creativity crisis and price hikes as brands shift focus to the biggest spending customers, a new study by the Bain consultancy said Tuesday. Bain is forecasting flat worldwide luxury sales in 2024 following a slight first-quarter dip, according to the study commissioned by the Altagamma association. The consultancy cited political uncertainty during a presidential election year in the United States as well as economic uncertainty in China that has brought on a phenomenon of luxury shaming." Beyond socioeconomic factors and rising geopolitical tensions, the slowdown is also partly self-inflicted,' said Bain partner Claudia D'Arpizio. She cited a creativity crisis,' in the sector, as a number of major fashion houses are transitioning creative directors, and a new focus on the super-wealthy customers, at the expense of the aspirational middle class and Gen-Z youngsters who ..

Jaisalmer to Bikaner: Indian travellers in 'hot pursuit' of luxury

More inclined to seek unique experiences, willing to brave the heat, and explore beyond traditional holiday seasons

LVMH's first quarter sales growth slips to 3% amid luxury retail slowdown

LVMH, which is Europe's second-largest listed company and worth nearly 400 billion euros, is the first luxury goods maker to report quarterly earnings

Premium and luxury segments becoming more prominent in India: Titan CFO

Sonthalia says that the company is aiming for margin optimisation through cost control and growth through international expansion and product diversification

Gen Z, millennials 'doom spending' to cope with economic uncertainty

For younger generations, financial goals like buying a house and saving for retirement can feel out of reach - so they are splurging on $2,500 Chanel bags and more

Home truths: Luxury real estate looks set to retain its sheen this year

Stamp duty cuts, reduced circle rates, changing demographics propel high-end homes to new heights

Quiet luxury explained: The old-money aesthetic that took over 2023

Quiet luxury is about investing in high-quality, subtle fashion pieces over logos and overt brand displays

Realty firm K Raheja Corp Homes sees strong buyer demand from West India

In addition, the company has plans to add more 2.5 million square feet to build on its existing 6.5 million square feet of saleable area, totalling about 9 million square feet during the rest of FY 24

Imports of luxury chocolate brands zoom 45% on steady uptick in demand

According to industry insiders, imports of such luxurious products in India will be driven by the demand for organic, dark, vegan gluten-free and sugar-free chocolates

How is India's luxury market turning into a magnet for foreign brands?

As China's economic engine falters, luxury brands are hoping that India's steady growth will lead to increased demand for their products

53% Indians likely to buy art, watches, luxury handbags in 2023: Report

More than half of ultra-high net worth individuals (UHNWIs) in India are likely to purchase art along with watches and luxury handbags during this year for passion-led investment, according to Knight Frank India. Real estate consultant Knight Frank has released its 'The Wealth Report 2023' on wednesday through virtual conference. According to Knight Frank Luxury Investment Index (KFLII), which tracks the value of ten investments of passion, has increased by a healthy 16 per cent during 2022, comfortably outpacing global inflation rate whilst outperforming majority of mainstream investment classes, including equities and gold. Among the ten passion investments, Knight Frank said art was the top performer with a return of 29 per cent in a 12-month period ending December 2022. This was followed by classic cars whose price index has appreciated by 25 per cent YoY (year-on-year) in 2022, highest in last 9 years. As an example, a Mercedes-Benz Uhlenhaut Coup sold in 2022 for USD 143 ...

Drivers of change: More women buy luxury cars in post-pandemic shift

Audi India has registered a 27 percent growth compared to the last year selling 4187 retail units in 2022

Year-end indulgence: how to pick the best cakes for gifting

Bakers' shelves have a variety of choices: pick what matches the mood of your celebrations

TARC Ltd to invest Rs 500 cr to develop its luxury hsg project by 2025 end

The new three-acre project, TARC Tripundra, will have 190 apartments. It is the first under the TARC brand name, although the Anant Raj Group has been into real estate the past four decades

Market Square Tower Elevates Resident Experience and Satisfaction By Opening A Luxury Day Spa

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Five Indian brands in top 100 global powers of luxury goods list

The top 10 luxury brands list mainly featured leading players from the EMEA (Europe, the Middle East, and Africa) region

Myntra forays into luxury segment, unveils Myntra Luxe on its app

This is another step for the firm towards strengthening its position as one of the leading fashion, beauty, and lifestyle brands in the country

Private members-only business clubs come back to life across the country

New menus, hi-tech air filter systems, Zoom rooms to woo patrons

From Dia Mirza to Jasprit Bumrah, celebrity weddings in the time of Covid

The rich are following a template for their special day - an intimate ceremony, with fewer people and a keen eye for a touch of luxury in every aspect