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China set to become world’s biggest gold market
China as a country is slowly emerging as the new super power and is all set to compete with India for the very title; is all set to overtake India in one area soon by has becoming the world’s biggest gold market. As per the World Gold Council annual report for 2011, the amount of gold bought in China rose 20 percent in 2011 over the year before to 770 metric tons while the amount of gold bought in India was 933 metric tons. The council said it’s “likely that China will emerge” as the world’s largest gold market for the first time in 2012 as it has already moved into top place on a quarterly basis. The rise in inflation and weakening rupee which made gold more expensive, could be attributed as the main cause for India losing the title of the world’s largest gold market. Besides this, rising incomes in China have led to a surge in demand for luxury goods and gold jewelry.
A Forum Held by Benchmark Group Discusses Relevant Issues
Benchmark Group held a forum on Tuesday, the 14th of December that addressed the issues of luxury brands on the internet. Putting aside a long reluctance, most of the brands are now investing in a presence on the web as most of them have a website now. But as far as online advertising is concerned they all believe the Internet does not replace traditional media advertising but is complementary to other media. It allows for example to target the young, who watch less television and has a much wider reach.
The investment in the web by brands is limited primarily because the results are less clear cut than the traditional media. By comparison, the impact of television is quick and the results immediate. However many felt that any web initiative should have SEO as the priority as it is the gateway to many Web surfers.
Web2.0 appears inevitable but you must choose where to build your presence. For Antoine Lacroix of Van Cleef & Arples, the answer is simple: Facebook. Whereas the perfumer Thierry Mugler, opened Womanity.com, a community site earlier this year to have their own web 2.0. As part of this forum Benchmark Group presented the result of a survey conducted in October 2010 among 558 consumers of luxury goods and visitors to sites of luxury brands.
Zenga,the Italian Suit Maker Rebounds on Sale
Ermenegildo Zegna, the CEO of the company is very upbeat about the coming year that is expected to see the revenue and profit rise. The company is also rolling out 20 new stores this year, half of them in China which has emerged as its biggest market.
The sales this year are expected to exceed the 2008 record of $870.6 million but the profits will be lower than the 62.3 million recorded the same year. None the less, the margins are improving and the company is positive about the future. The recovery from the down turn has been faster than expected. The retail business is driving the growth and the trend is expected to continue at over 20%.
The rebound in the US and the growing demand from China will boost the sales of luxury goods to near the peak levels of 2007. Zenga had partnered with Sowind group to launch limited edition time pieces to commemorate its centenary year.
Richemont increases stake in Net-a-Porter Pvt. Ltd
Swiss luxury goods maker Compagnie Financiƒ¨re Richemont SA has announced that it is planning to buy U.K. based online luxury retailer Net-a-Porter Pvt. Ltd ” which was founded in 2000 by former fashion journalist Natalie Massenet.
Richemont, which is also the owner of brands such as Cartier, Montblanc and Chloe earlier held a 33% stake in the company, and now with a hefty bid of $341 million to private shareholders, it holds a stake of $472.5 million.
According to Net-a-porter Pvt. Ltd, the company has been profitable since 2004 and reported sales of about $161.68million for the fiscal year that ended on Jan. 31. It has also established itself as an interactive shopping fashion magazine, publishing 52 weeks of editorial content each year alongside its designer clothes sales operation.
Asprey unveils poker set in black polished crocodile skin
Founded in 1781, the London luxury goods firm, Asprey has always set standard for creating exclusive British products and designer accessories. Now it has come up with a hanmade gentleman’s poker set in black polished genuine crocodile skin with ceramic poker chips and royal purple Asprey playing cards.
Priced at $7,800, this poker carries forth Asprey’s tradition of taking high quality luxury goods. Prince of Wales including British Royal Family has granted several Royal Warrants to the 200-year-old firm.
Luxury Living Expo 2009 to provide good deals on high-end items
Are you looking for the finest cars, boats, private jets, wines, clothing, watches, housing, cigars, sports equipment, jewelry, home decor, electronics and more? If yes, then the Luxury Living Expo will prove out to be your ultimate destination. Here you can take a look at the luxury goods and services from the famous manufacturers, designers and distributors. TransWorld Exhibits, one of the world’s premier producers of independent trade shows, is all set to gather the most renowned providers of luxury goods and services together from around the world for the 2009 Luxury Living Expo (April 24 – 26) at the Donald E. Stephens Convention Center in Rosemont, IL.
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