Upscale jeweler Tiffany & Co would have to see at least a five percentage point improvement in U.S. same-store sales in order to call business better, as jewelry remains one of the trickiest things to sell in the recession.
Bahrain's Investcorp said on Tuesday 9 June it planned to buy stakes in homegrown Middle Eastern luxury goods companies as part of a wider plan to invest $650 million in the region in the next two years.
For the 2008/2009 financial year, which finished on the 31st of March 2009, Tommy Hilfiger has seen encouraging results. Net sales at the group reached €1.6 billion, an increase of some 21% year-on-year. This performance is in part due to the development strategy of the group.
Sales of luxury goods in Dubai have dropped about 45 percent since the global economic crisis prompted local shoppers to tighten their purse strings and tourists to rethink spending sprees, a top retailer said.
Shares of G-III Apparel Group Ltd rose as much as 16 percent on Thursday 4 June, a day after the clothing maker posted better-than-expected first-quarter results on strength at its dress and sportswear businesses.