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.
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.
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.
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.