........................................................................................................................................................................................ Earlier this month, the Hurun Report published a list of the one thousand richest people in China. The collective net worth of these one thousand people is $571 billion, and of these one thousand people, 130 are billionaires. According to Wilson Ho, who is the managing director for Lamborghini, these Chinese billionaires are young and excited to spend their money. "Our customers are 100 percent Chinese, and very rich. They are successful entrepreneurs from the property business, entertainment, the financial sector, coal mining and steel manufacturing. They are also very, very young. A majority of them are in their early 20s." In addition to luxury cars like Lamborghinis and Rolls-Royce Phantoms, other popular purchases among China's extremely wealthy include Louis Vuitton goods, Cartier watches and expensive bottles of cognac. One of the young billionaire on the list is Ma Huateng, the founder and ...

........................................................................................................................................................................................ The Chairman of De Beers, Nicky Oppenheimer believes there is a very high likelihood that the international demand for diamonds is "most probably" outstripping the supply. He noted that Indian and Chinese markets "tremendously" desire diamonds and that both countries will be vital diamond markets in the future. He also pointed out that the US still accounts for one half of the diamond retail market. Oppenheimer was quoted saying: "What one's seeing at the moment is that everything shows that the demand for diamonds is most probably outstripping supply, and so, as a diamond producer, we want to produce as many diamonds as possible." The use of non-conflict diamonds that are mined from African countries is difficult because diamond producers do not always know where the diamonds are coming from.   If buying from unknown sources in Africa, the purchase could fuel the civil ...

........................................................................................................................................................................................ A recent study by Hill & Knowlton shows that 96% of the next generation of luxury consumers are using social media and 27% of these individuals make purchase decisions based on information that they receive from social media. This is a large influence on why luxury fashion brands must be put on these sites to put in an official word on the products available as a way to have a true brand presence on the social media world. The passion for the products and branding of luxury fashion brands is even being shown by fan pages without any official word from the designers or brand officials. Not having a word in can cost a large amount of possible sales for these luxury fashion brands to other brands that have a strong presence and influence in social media. Of course fan based pages for a ...

........................................................................................................................................................................................ Montres Breguet's history includes it being commissioned by an admirer of Marie Antoinette in 1783 to create the most complex and all inclusive watch of the time as a gift for the Queen. This watch known as A.L. Breguet's Marie Antoinette No. 1160 was not complete until 34 years after her death and the original watch was stolen during a heist in 1983 at a Jerusalem museum. Nicholas,  the President and CEO of Montres Breguet, has recreated the famous Marie Antoinette No. 1160 to be seen again in October of 2009 within the US. The self-winding 'perpetuel' movement of No. 1160 is comprised of 823 components, has sapphires, pink gold  polished with wood and blued steel. This master timepiece is presented in an opulent box consisting of more than 3,500 pieces of wood sculpted from Marie-Antoinette's favorite oak tree at the Versailles Estate. The venues in which the No. 1160 could be witnessed at are the Breguet ...

......................................................................................................................................................................................... Emirates open up the Wolgan Valley Resort near Blue Mountains in Australia last week. This makes the location a hot spot for travelers from the German, British, Italian and French markets and US interest is expected once the US advertising program is in effect. The location emulates another project from the same group currently in Dubai, the Al Maha Desert Resort and Spa which was built over a decade ago and is a successful business model for an ecologically sustainable luxury resort. General manager of the Emirates Wolgan Valley Resort and Spa, Joost Heymeijer says "Emirates developed Wolgan Valley Resort to enhance its reputation as the provider of the very best in hospitality - in the air and in luxury conservation-based resorts." Wolgan Valley Resort was created to provide a destination for experiential luxury tourism and features 40 individual secluded suites. The resort is is fully ...

......................................................................................................................................................................................... The Chinese art market is losing value and has seen a drop to about 50% of the values that contemporary art was fetching in past years. This drop in price was a surprise but the Chinese art market was very inflated in the past which many people saw as unhealthy. Several of the artists which have had works sold for millions are seeing a rapid decrease in the value of their artwork. The Hong Kong market for artwork is looking into focusing more on the Western art for their sales to gain an increase of sales. Some artists have seen a decrease in valuation of up to 66%, which severely cuts the value of very intricate pieces. The values of antiques are going up because they are going into fashion once again. At its peak, the Chinese art market allowed artist to ...

.......................................................................................................................................................................................... Yohji Yamamoto is a leading fashion designer and producer of trendy and well known brands of fashion in the Japanese fashion market.  The fashion house, which is based in Tokyo, Japan, has filed for bankruptcy on October 9th, 2009 while in debt over six billion yen.  This is due to the luxury fashion market suffering some of the worst low sales in recent history. Although the bankruptcy is filed, the corporate rehabilitation law of Japan allows Yohji Yamamoto to continue business to restructure the company.  This means that Yamamoto will continue to work and produce great fashion pieces. Source: Retail Digital Related posts:Hermès Sells Gaultier Fashion House Stake Jean Paul Gaultier, the French designer whose fashion house has... Social Media’s Relationship with Luxury Fashion Brands …………………………………………………………………………………………………………………………………………………………………. A recent study by Hill & Knowlton shows that... Contemporary Chinese Art Gets a Reality Check ………………………………………………………………………………………………………………………………………………………………….. The Chinese art market is ...

......................................................................................................................................................................................... The Chinese need for high quality luxury items such as handbags, watches and jewelry are keeping sales fluent and in full force. Although the global economic crisis is affecting many worldwide, China seems unphased. New York based market research firm Pao Principle has concluded that the well heeled groups of Chinese are making purchases of luxury items. They were quoted as saying: "The one-child policy has spawned a generation of more self-centered individuals whose primary goal is to differentiate themselves from their peers. No longer content to be one of the crowd, this group looks to luxury goods to help achieve this goal." Pao Principle has also run studies on actual groups of affluent groups of the Mainland china and has discovered that although the Chinese enjoy discounts, quality of products as well as the size of selection and brand education helps ...

......................................................................................................................................................................................... Lower prices are not on the agenda for Italian yacht makers as they are targeting wealthier consumers with better services and ecologically friendlier options for their yachts. Other international yacht makers are lowering their prices as much as 30% to make sales on their yachts. The Chief Executive of the Azimut Benetti Group, Paolo Vitelli said: "The buyer would probably think you have a product that loses its value quickly." This is due to the resulting price drop of international yacht prices. There is a new kind of buyer, the wealthy buyer that is looking for more comfort and greater sense of environmentally friendly interaction when using their purchased yachts. They are willing to spend large amounts of money on fuel efficient options on their high quality vessels. Source: Bloomberg Photo: Azimut Benetti Group Flybridge-Range Yacht Related posts:Is the luxury yachting industry ...

....................................................................................................................................................................................... The MasterCard advisor service SpendingPulse is reporting that luxury and electronic sales are on the rise from last month. Luxury sales, not including jewelry, gained 3.4% year-over-year that's an increase of $891 million. Jewelry sales gained 1.2% relative to last year, compared to a year-over-year decline of 5.8% a year ago. Electronics' sales were also on the rise with a 5 percent gain from last year and several major retailers are reporting increases in luxury sales as well. Stability in the markets are not a sure sign of recovery, but hopes are high for an increase in luxury sales which will contribute to the economy. SpendingPulse will be able to allow us to see the course of luxury spending in the near future. Related posts:China Remains Strong in Luxury Purchasing Power ………………………………………………………………………………………………………………………………………………………………….. The Chinese need for high quality luxury items such... Russians Overcoming Economic Hardship ...