Botswana has unveiled one of the largest diamonds ever discovered, a 2,492-carat gem taken out from Karowe Mine. According to the Associated Press, this discovery is set to be showcased on Thursday, marking it as the biggest diamond ever found in the country and the second-largest ever extracted globally.Canadian mining company Lucara Diamond Corp reported…
PARIS: Luxury goods group LVMH posted a 10% rise in fourth-quarter sales on Thursday, as growth edged up from the previous quarter, driven by resilient demand – including from Chinese buyers – for its high-end fashion over the all-important end-of-year period. Sales at the world’s biggest luxury group, which owns labels, including Louis Vuitton, Dior…
Michael Burke PARIS: LVMH veteran executive Michael Burke has been appointed chairman and chief executive of LVMH Fashion Group, overseeing the luxury goods group’s fashion labels, it said on Thursday. Burke – chairman and CEO Bernard Arnault’s longest-serving lieutenant – replaces long-time Fashion Group head Sidney Toledano, who was named advisor to Arnault and will…
Sales of used luxury items in India are soaring, reflecting the growing aspirations of young shoppers and consumers in tier-II and tier-III markets, and fuelling a previously untapped market. Despite signs of a slowdown in the global market for luxury goods, India’s Luxepolis, which claims to have an online user base of 3.5 million, recorded…
PARIS: Early holiday shopping season discounts from high-end fashion retailers like Bergdorf Goodman on New York’s Fifth Avenue raised concern that a lacklustre Christmas could lead to inventory gluts – potentially dragging labels into a discounting spiral that would cheapen their image. The latest U.S. credit card data from Barclays released on Wednesday showed that…
Some of the super-luxury brands that have opened stores at the recently inaugurated luxury mall, Jio World Plaza in Mumbai, have put in a condition that at least four top brands – such as Louis Vuitton, Gucci, Cartier, Burberry, Tiffany, Valentino, Bulgari, Zegna, Giorgio Armani and Bottega Veneta – should be present in the same…
Representative image Global luxury brands such as Gucci, Cartier, and Louis Vuitton, among others, have signed leases for retail spaces in a new Mumbai mall developed by Asia’s richest Mukesh Ambani, as the brands and Reliance Industries look to tap lucrative prospects presented by India’s robust economic growth and the swift increase in the number…
The Indian arm of the French multinational luxury fashion house Christian Dior SE has leased nearly 3,320 sq ft retail space from Reliance Industries in its Jio World Plaza in Mumbai’s business district Bandra-Kurla Complex (BKC) for a term of 9.5 years The global brand already operates stores in key Indian cities including Mumbai, Delhi,…
French luxury fashion house Louis Vuitton has picked up retail space in Jio World Plaza in Mumbai’s Bandra-Kurla Complex (BKC) from Reliance Industries through a long-term lease to set up its biggest store in India. The new store in the ritzy mall will be the second Mumbai outlet of the company, which is counted amongst…
More than a dozen luxury consumer goods brands are entering the country ahead of the festive season, as they look to attract consumers in a market riding on the growing affluence of Indians with higher incomes, spurring greater discretionary spending even in small towns. The trend is being driven by increased exposure to global trends,…
