INTERNATIONAL. It’s a tiny circle known for exclusivity, but its global reach into emerging markets means the luxury business needs online networking.
When you think of luxury, you think of small, elite, exclusive. When you think of the internet you think exactly the opposite, and marrying the two has historically enjoyed little success.
Yet a company called The Luxury Society evolved into a flourishing business by exploring where a mass media platform could successfully meld with a niche luxury network.
According to Pierre-Yves Poulain, co-founder with four others of the website that i
UAE. US$171.8 billion of luxury goods sales globally; Deloitte report identifies the largest luxury goods companies around the world; provides insights for M&A activity and retail & ecommerce operations.
UAE. The market has been mainly driven by tourism growth (9%-10%) while the resident market has been growing but at a slower rate, according to Bain & Company's luxury goods worldwide market study, Spring 2014.
UAE. As part of the review of the draft Law at Ministerial level, amendments have been made to the draft Law which address some of the concerns raised by brand owners on earlier versions of the draft Law.
UAE. Abu Dhabi ranks fourth amongst the top 20 hottest retail markets; London and Dubai are significantly ahead of New York, Moscow and Shanghai, the other locations which make up the top five; Luxury brands account for a quarter of new market entrants globally.
INTERNATIONAL. The transaction, made up of a mix of cash and shares, enables Geneva-based DLG to add "community-based intelligence" and events to its research offer, while giving it a presence in Paris.
SAUDI ARABIA. Saudi Arabia will need to keep cutting oil output to sustain prices above US$100 a barrel, according to BNP Paribas and Societe Generale; "We are swimming in crude, and they know that better than anyone because they are the biggest exporter."
UAE. IT spending by financial institutions in the big four markets of the Middle East and Africa (MEA) - Saudi Arabia, South Africa, the UAE, and Turkey - is set for strong year-on-year growth of 10.8% in 2014, according to IDC.