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Luxury Institute News - Knowledge of Luxury
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Here is s selection of industry news, including Press Releases from the Luxury Institute.
You can obtain RSS feeds of the posts by visiting LuxuryInstitute.com/news and subscribing. Click on a title to read the article, comment, or share.
Larry Pimentel, President and CEO of Azamara Club Cruises 05 August 2010
It once was thought that online social networking was the exclusive digital playground of kids and job hunters. But increasingly social networking is proving to be one of the most powerful channels to deliver personalised marketing messages directly to luxury consumers.
As a travel professional, [...]
AUGUST 11, 2010
eMarketer.com
Do the habits of the ultrawealthy point to the future of m-commerce?
The best mobile commerce user experience comes from downloading shopping apps on a smartphone. Though growth in smartphone sales is increasing and the devices are spreading through the population, smartphone owners still tend to be more affluent than average.
And affluents may be [...]
Janet Whitman, Financial Post · Saturday, Jul. 31, 2010
NEW YORK — About a decade ago, Bob Gannicott, a prospector and geologist by trade, walked in the doors of Harry Winston Inc.’s flagship salon on Manhattan’s Fifth Avenue and made a rare and unexpected discovery: The iconic diamond business known as the “jeweller to the stars” [...]
The 2010 American Express Survey of Affluence and Wealth, which surveyed 2,500 respondents with discretionary spending between $100k-$500k, unveiled that 86% of participants prefer to shop in stores with a reputation for great pricing. The recession has affected consumer mentality even at the affluent levels of the spectrum where value is now paramount.
Earlier Fashion’s Collective introduced [...]
By PAUL SULLIVAN
Published: July 23, 2010
EVERYONE needs a place to live, but no one needs a second home. So choosing which vacation home to buy and where should be enjoyable. Still, people routinely buy second homes that end up being less than they expected, or worse.
I speak from experience here. My wife and I own [...]
Karen Katz, EVP of luxury retailer Neiman Marcus Group, would just as soon forget 2009.
“Luxury retail in general took the hardest hit during this recession,” Katz recently commented. “Our customers pulled back dramatically from spending… that being said, we are very happy to see that business is coming back. The customer is definitely back in [...]
High-end retailers open discount stores and outlets to capture more of the market
By Arlene Satchell, Sun Sentinel, July 19, 2010
On this trip, Guzzi bought a $100 Lily dress for $46, while Picarello snagged a $300 pair of Gucci glasses for $149.
Luxury sales matter because increased spending at these retail stores are a boost to the [...]
After a two-year recession left accessory and apparel retailers embroiled in a battle for shoppers
Dallas Business Journal
Kerri Panchuk Staff Writer
”I still don’t think we are back to the place we enjoyed in 2008,” said Rod McGeachy, president and CEO of fashion accessory firm Tandy Brands Accessories Inc. (Nasdaq: TBAC). “But I do think the numbers [...]
Dallas Business Journal
Kerri Panchuk, Staff Writer
Incoming Neiman Marcus CEO Karen Katz says she is committed to building a consistent pattern in sales and merchandising - two staples of the Neiman Marcus brand. For the moment, that’s about all she is saying.
Katz is quietly plotting her course and spending the summer conducting research leading up to [...]
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