luxury goods

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Screw Charity, Millionaires Spending More on Bling
Screw Charity, Millionaires Spending More on Bling
TIMES ARE TOUGH
Jun 24, 2010 1:13 PM CDT

Screw Charity, Millionaires Spending More on Bling

Financial crisis scares money out of stocks, into stuff

(Newser) - Spooked by the financial crisis, millionaires have pulled their money out of stocks and put it where their passions are—think yachts, art, private jets, and expensive jewelry—while simultaneously cutting back on their donations to charity, according to a new report from Merrill Lynch and Capgemini. Most millionaires now...

Holiday Sales Up 3.6%
 Holiday Sales Up 3.6% 
Dec 28, 2009 3:29 AM CST

Holiday Sales Up 3.6%

Online spending surge fuels modest recovery

(Newser) - Retail holiday sales ticked up this year for a 3.6% improvement over 2008's disastrous showing. The modestly improved overall picture included a 15.5% surge in online shopping, thanks in part to snowstorms that stranded many shoppers at home the week before Christmas, as well as an almost 6%...

Post-Crash Ireland Becomes Luxury Bargain Basement

Fancy cars, wines, homes selling at deep discount

(Newser) - In the midst of its worst recession in modern history, Ireland has become a bargain hunter’s paradise, with high-end cars, homes, and wines selling for a song. “It’s a bit like old vultures over the carcass,” one shopper tells Bloomberg . “You’ll see all sorts...

Alligator Market Collapses; Farmers Fault Hermès

Prices rise even as sales of alligator-skin shoes and bags plummet

(Newser) - Of luxury markets hit hard by the economy, one of the strangest is Louisiana alligator business, which dried up so fast it went from hatching 500,000 eggs last year to none this year. The speed of the collapse is raising suspicions that there's more to it than consumers shunning...

Luxury Labels Flaunt Green Cred

Top-end firms realize eco-friendly image can boost brand value

(Newser) - As traditional luxury good buyers make way for a new generation of eco-conscious consumers, luxe brands are jostling to show off their planet-saving credentials, the Wall Street Journal reports. Firms like Louis Vuitton and Tiffany are snapping up eco-friendly firms, introducing new lines, and using green themes in their advertising...

Rich Feel 'Guilty' Spending Now: Poll

(Newser) - Even the still-rich are unhappy in this economic climate, though their dolor is more likely to come from shame than anything else, USA Today reports. 54% of people who have $100,000 to spend after such mundane things like mortgage payments and taxes “feel guilty purchasing luxury goods” nowadays,...

Saks' Deep Price Cuts Changed All the Rules

Even high-end shoppers have gotten a taste for bargains

(Newser) - When Saks Fifth Avenue slashed prices 70% in November to kickstart a stalled holiday shopping season, it changed the rules for the entire luxe market, reports the Wall Street Journal. Retailers like Neiman Marcus and Barney's followed suit, putting an end to the unwritten deal the stores had with designers:...

Recession Jolts French Couture, and Psyche

Luxury industry tanks, moving some to dig up conservative values

(Newser) - For France, recession isn’t just an economic event, it’s a cultural revolution, the New York Times reports. The country is at once panicking—the layoff of 200 Chanel temporary workers was a major event—and rejoicing. Many are thrilled to see France’s obsession with high-end living come...

No Christmas Miracle for Retailers
 No Christmas  
 Miracle for Retailers 


RETAIL SALES
Dec 26, 2008 1:57 AM CST

No Christmas Miracle for Retailers

Even luxury sector sales in free fall

(Newser) - It was a bleak Christmas and promises to be a less than prosperous New Year for retailers with consumers tightening their belts and spending less, reports the Wall Street Journal. Retail sales dropped 5.5% in November and 8% in December, compared with the same months last year. Luxury goods,...

No Snow Job: Owner Wants $500K for Vail Parking Spot

Space at prime ski destination may appeal to recession-proof snow bunnies

(Newser) - America’s economy may be going downhill, but evidently not in the ski destination of Vail, Colo., where one resident is offering a parking space close to prime slopes for $500,000, the Vail Daily reports. “There’s always somebody out there who has money to spend on a...

Crunch Puts Crimp in Luxury Ad Sales
Crunch Puts Crimp in Luxury Ad Sales
Nov 24, 2008 12:45 PM CST

Crunch Puts Crimp in Luxury Ad Sales

As consumers budget, luxury brands slash promotional spending

(Newser) - The echoes of the economic crisis continue to reverberate, with luxury brands trimming spending on newspaper and magazine ads as their target audiences cut back, reports the New York Times. Display advertising was already in decline, and spending on luxury items, which started softening in the spring, fell off a...

For Wealthy, It's Cool to Be Cheap

Twin concerns drive new consumer psyche

(Newser) - Affluent Americans are folding up the Gucci sunglasses and trying green living's thriftier practices on for size, a response to environmental and economic concerns that's sure to dampen spending for the duration of the recession, the Wall Street Journal reports. "People aren't shopping to feel better," said one...

No More Bling? Even the Jet Set Feels the Pinch

Luxury execs are sitting tight for the most part, while jet set wonders what's appropriate

(Newser) - Not even the super-rich are immune to the present crisis, prompting Christina Binkley to wonder in the Wall Street Journal: "Is this the end of bling?" In a word, maybe. The world, of course, will always have rich people, but they may not want to flaunt it as much...

Outlets Keep Luxury Stores Afloat

No frills, but great prices, greet customers at outlets, which are a growth sector

(Newser) - In a stagnant economy, luxury retailers are opening off-price outlet stores at a faster clip, drawing in customers with sale prices they’d never see at a flagship, BusinessWeek reports. Including such names as Saks, Nordstrom and Coach, a trend is emerging: While visits and sales at boutique stores are...

$1K iPhone App? Get Control of Your Store, Apple

It 'shouldn’t be a place where a bunch of outlaws can run amok,' blogger pleads

(Newser) - Though the $1,000 “I Am Rich” iPhone application that so enrages Don Reisinger seems to have disappeared from Apple’s store since his original Mashable post this morning, his call for the giant to impose some order on would-be price-gougers stands. “There’s nothing stopping other developers...

Cartier Mines MySpace for Clients in Rough

Luxe jeweler tries to reach younger audience through social networking

(Newser) - Luxury jeweler Cartier has teamed with MySpace in a unique effort to develop a new, younger audience by blending networking, entertainment, and marketing, reports the Wall Street Journal. The move, one of the first by a major luxury brand, may provide a road map for other luxury retailers so far...

Slowdown No Problem for Luxury Goods

Affluent Americans still snapping up fancy watches, jewelry

(Newser) - If America’s economy is failing, at least it’s going down in style. Sales of luxury goods have been surprisingly strong this year, despite the overarching economic gloom, the Wall Street Journal reports. Brands such as Hermès and Burberry have seen double-digit growth, as Americans continue to snap...

EBay Wins Pivotal Tiffany Counterfeit Suit

Tiffany's must police their own mark, decides federal court

(Newser) - A US judge ruled today that eBay had taken sufficient steps to stop the sale of fake Tiffany jewelry, the Wall Street Journal reports. Ruling on a suit filed by the New York-based jeweler, the judge deemed Tiffany responsible for monitoring its trademark. It was a pivotal victory for eBay,...

Fashionistas Chase Fleeting Bargains Online

Sites court shoppers with flash sales on designer brands

(Newser) - New online shops are hooking up high-end customers with discount flash sales on luxury goods such as designer bags and shoes. Alerting members via text message, the members-only sites sell items in private sales that often begin immediately and can last just hours. The created frenzy works: Customers of one...

Live It Up While Going Green

10 luxury ways to cut carbon waste

(Newser) - You don't have to give up the high life to be green. Forbes finds 10 luxurious ways to reduce your carbon footprint:
  1. Wear cashmere at home so you can turn down the thermostat.
  2. Buy carbon offsets for your private jet.
  3. Drive a hybrid Cadillac Escalade SUV.
  4. Use occasional perfumed candles
...

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