New York authorities are cracking down on the sale of counterfeit luxury items, shutting down 31 stalls in raids and seizing $1 million (614,000 pounds) of fake bags and watches.
When Latvia's economy blossomed, Lotte Tisenkopfa was skeptical. "I saw very well that the bubble's going to burst," Tisenkopfa said, and as she kept watch on the looming crisis, she and her three friends founded Madana, a cosmetics company.
A return to lavish bonuses for Wall Street's top earners could be just the tonic that the Swiss watch industry needs this Christmas after months of austerity depressed sales.
Consumer appetite for Swiss watches picked up slightly in October as the pace of decline in exports slowed, adding to signs the beleaguered watch industry may be on the road to recovery.
Cartier, maker of fine jewelry and watches for the wealthy, has expanded its range of more affordable products ahead of Christmas, meaning more than just a select few may find its red boxes in their stockings this year.
Richemont Executive Chairman Johann Rupert is taking on the chief executive job at the luxury group, tightening his grip as sales suggested the watch industry could be set for recovery.
Russian officials regularly flaunt designer watches worth up to one million dollars, a newspaper revealed, in a rare investigation of the extravagance of the political elite.
Demand for Swiss watches fell 22 percent in August, when the pace of decline eased for the second month in a row, but appetite for timepieces remained weak in the key Hong Kong and U.S. markets, the Swiss watch federation said.
From November the horologer Rodolphe will be teaming up with Valmont, the anti-ageing cosmetics brand, to produce a series of exclusive watches in a meeting of two flagship Swiss luxury labels.
Polo Ralph Lauren, the fashion company behind the Polo and Club Monaco brands, said its smaller Rugby brand is launching an iPhone application that lets users design their own shirts.
Mango has launched an innovative low-cost fashion concept. Called ‘Think Up’, the range of products will be pitched at a price that the Spanish label hopes will be unbeatable.
Swiss watchmakers are preparing for the crucial pre-Christmas period with cautious optimism, viewing an uptick in demand as a sign that the crisis may finally be over.
The United Nations Interregional Crime and Justice Research Institute, UNICRI, has established a permanent watchdog for anti-counterfeiting systems and has launched the first international anti-counterfeiting database.
Swiss watchmaker IWC, part of Swiss luxury goods group Richemont, has outperformed July's 26 percent drop in Swiss watch exports on robust demand in Asia, the group's head was quoted as saying.
A third man has been charged in connection with a 40-million-pound heist at a central London jewellers, Scotland Yard said.
