UAE. Classic brands are playing by different rules today to grow in the new markets of the East. But is the “New Look” worth it?
The continued growth of emerging markets like the Middle East and China are “transforming the luxury industry”, said Claudio D’Arpizio, a Bain & Company partner and lead author of its ‘Spring 2011 Update: Luxury Goods Worldwide Market Study’ upon the report’s release in May. “Luxury has made a brilliant return to the retail stage, but the script has been re-written” to suit both the escalating demand and the new consumer.
The Chalhoub Group,
UAE. The growth is partly attributable to net inflows of CHF 2.4 billion; The Group's net consolidated earnings have risen, by 6.2%, to CHF 82 million (US$92.5 million); With its Tier 1 ratio of 28%, UBP is one of the best-capitalised Swiss banks.
INTERNATIONAL. The world is well aware of the concerns around terrorism and Nigeria's ongoing struggle with poverty. However the report finds that Nigeria has the potential to expand its economy by roughly 7.1% per year through 2030.