Luxury goods

The European luxury sector is welcoming the end of pandemic lockdowns in China, as the return of big-spending Chinese tourists could sustain further growth.

Prior to the pandemic, Chinese tourists visiting Europe were a major source of sales for luxury houses.

Italian sports car maker Lamborghini has already pre-sold the entire production run to early 2024, its boss has said, with luxury goods seemingly unaffected by global economic uncertainty.     

The Volkswagen subsidiary is enjoying "high demand" and has an order book covering the next 18 months, CEO Stephan Winkelmann said.    

Large-scale luxury residential developments in the SEE region are rare as there is no tradition in this real estate segment. There have been some smaller projects or redevelopments of individual luxury units or penthouses and villas but no large-scale projects until recently. The market is developing though.

The luxury property market in Bulgaria is moderately high during the first quarter of 2018, according to an analysis by the consulting firm Unique Estates.

Vangelis Kassotakis would observe the hustle and bustle of daily life in one London's most expensive locations from the window of his second-floor Bond Street office. Having worked for French luxury goods brand Cartier for 11 years - the last two as marketing director - he found that he wanted something different out of life.

L'Oreal said on Thursday it would appeal a 2.6 million euro ($3 million) fine imposed by Greece's competition authority, which ruled that the French cosmetics company and several of its rivals were fixing prices.

Global sales of personal luxury goods will grow by a stronger- than-expected 2-4 percent at constant exchange rates in 2017, as higher spending in Europe and China outpace weakness in the United States and southeast Asia, a report showed on May 29.

Erospolis, faced with New Year's all-night shopping festivals, pretty boutiques and woes of the rising dollar, asks around for solutions. Buy second-hand or fake..."Why even bother to buy a luxury brand if it is not instantly recognized as one?" asks my friend as she fiddles with her multicolor Celine handbag.

Sales growth in the global personal luxury goods market has slowed this year to 1-2 percent from 3 percent in 2014 at constant currencies, hit by lower demand in mainland China and Hong Kong, consultancy Bain & Co said in a study.

The head of the Directorate of Religious Affairs (Diyanet) has declared that he will return the 1 million Turkish Lira car that was allocated for his use. 

?I have not used that vehicle for even one day. We will return it to set an example,? he said.