The global luxury market in 2012 is expected to reach sales of 212 billion euros, or $274.5 billion at current exchange rates, up 10 percent compared with the previous year, according to a study by Bain & Company in cooperation with Italy’s luxury goods association Fondazione Altagamma, presented today in Milan. Sales in the last quarter of 2012 are expected to grow 7 percent.
According to Bain’s study, the Asia-Pacific region, and China in particular, will help lead the growth, with an expected 18 percent jump in gains, followed by the Americas, with sales seen up 13 percent by the end of the year, compared with 2011. Greater China has overcome Japan as the sector’s second market, behind the U.S.
Bain also expects that the luxury goods market will grow, at constant exchange rates, by 4 to 6 percent per year between 2013 and 2015, projecting revenues of over 250 billion euros, or $323.7 billion, by 2015.
“Concerns about market weakness are somewhat overblown,” Bain partner Claudia D’Arpizio writes in the study. “But we are seeing sharp disparities between brands that are not keeping up with the quickening pace of change in the market and those that are adjusting to shifts in tastes and demographics.”
The study underscored the fact that accessories have become the core category in personal luxury goods for the first time, accounting for 27 percent of total sales, also lifted by increasing levels of male spending and increasing interest in higher quality and more expensive items.
Leather goods are projected to grow 16 percent in 2012, reaching sales of 33 billion euros, or $42.7 billion, while shoes are seen growing 13 percent to 12 billion euros, or $15.5 billion.
Heading to Vegas this fall? Between partying like a rock star, shopping and gambling your mortgage payment away, get a little R & R at the Reliquary Water Sanctuary & Spa at Hard Rock Hotel & Casino.
Located inside the luxurious HRH Tower, Reliquary is a destination spa experience which has recently recreated their menu to further reflect the hotel’s deeply rooted ties to rock and roll. With amazing facials like the Nirvana; an 80 minute treatment that includes an anti-aging facial, a warm paraffin mask on the face, hands and feet, or the Drum Sticks; a massage ritual using bamboo reeds for drumming, tapping and rolling to rebalance the body’s energy flow or the Satisfaction, which is a 50 minute body wrap that includes a firming mask. After spending a day at Reliquary spa you will be ready to go on tour or at least go back to your crummy 9-5 gig.
Besides the new beauty treatment menu this 25,000 sq. ft. spa includes a lounge area, 21 treatment rooms, fitness center, a swanky men’s and women’s locker facility complete with lounge, fire place, Jacuzzis, and saunas. Did I forget to mention the co-ed Roman Bath?
To check out all of the new menu or book an appointment call The Hard Rock Hotel & Casino at 702.693.5520 or visit www.hardrockhotel.com.
The Bentley EXP 9 F Concept is intended to set new benchmarks for performance and luxury. Bentley says in a release that it is reaffirming its commitment to the ultra-luxury SUV which is says will be both the fastest and the most luxurious SUV in the world.
The company's designers and engineers have created a compelling new take on the Grand Touring Bentley.
See the photos and video below
Hobbies can be pricey, especially if you are into collecting expensive, luxury handbags. The most costly purses are covered in diamonds and are in fact a rarity. Check out some of the most exorbitant handbags and the celebrities who own them.
I always notice people's watches. In fact, it's my personal opinion that your watch and your shoes make strong identity statements. Imagine a woman in jeans, a white t-shirt and converse sneakers. Now take that woman with that same outfit, jeans, a white t-shirt but instead wearing sparkly Christian Louboutin 6 inch heels. The identity has been changed, just by changing the accessory. Watches are a strong statement maker as well. Imagine the woman with the jeans, t-shirt and converse, also wearing a Hublot Big Bang 44mm porto cervo watch (the pink one with little diamonds), and now this woman is making a whole new statement.
We all know the pages in magazines, the TV shows, websites and even songs that have been dedicated to the admiration of shoes. Now watches are getting some glory. A new UK based magazine completely focused on whats cool in luxury watches has been launched. It's called Tempus Magazine. They provide readers with news and views on the whole wide world of watches – antique, vintage and modern. It's definitely trending. We even partnered with them on our Planet Fashion TV Style Event for the Olympics in Mayfair,
To learn more visit:
Jay Z celebrated his first EVER Father's Day . . . with his wife Beyonce. So what could she give him . . . he already has MULTIPLE HOMES . . . multiple CARS . . . and TONS of expensive jewelry.
Well a MediaTakeOut.com insider tells us that Beyonce bought Jay Z the true BALLER GIFT . . . a PRIVATE JET!!!
According to our snitch, Bey bout her HIP HOP MOGUL hubby a brand new Bombardier Challenger 850. The jet, we're told cost about $40 MILLION. It has a living room, a kitchen, a bedroom . . . and TWO FULL BATHROOMS.
Dang, Jay and By are taking things to a whole 'NOTHER level!!
Fashion Week Cannes presented collections of emerging designers during the Cannes Film Festival 2012. One really impressive new brand that we saw was a super cool new luxury sportswear brand from Holland called Goldbergh.
Officially launched in 2009 by Sandra Peet, a sports specialty store owner and Lieke van den Berg, the designer of Aphrodisiac Sport, a fashion ski-wear line for women. The duo wanted to create a new brand for women. Goldbergh is a strong and innovative line, that is appealing for fashion and sporty types.
In winter, the collection has an emphasis on trendy ski-wear. In Summer, the sportive look of the collection is perfect for both active or leisure time. Its a new standard in luxury sports-fashion: ‘The Goldbergh Standard’
The head office and showroom of Goldbergh is located in the World Fashion Centre in Amsterdam, but Goldbergh is sold in The Netherlands, UK, Belgium, Germany, Austria, Switzerland, Russia, Italy, Norway and Iceland. Check out their site to find out more. http://www.goldbergh.com/
Take a look at their impressive winter and summer apparel here:
Winter 2012 - 13
The Cannes Film Festival for me is a mix of luxury, glamor, manic amounts of meetings, organizing, filming and parties. Its a perfect mix of love and hate because for all the fun that is had, there is also an equal dose of stress and exhaustion. Its always like that and this year was no different.
I came with my camera girl Elsa, a ex-model who is a true free spirit. We got great of coverage of Brad Pitt, who was there with his new film "Killing Them Softly" and Sean Penn who had an event for Haiti. We also got coverage of the best events, Chopard, Dior, Di Grisogono, and the Space Party at the Richard Nillson, Richard Branson Luxury Property, the Villa Oxygen. Elsa and I also covered the Monaco Grand Prix, which is a story for later.
We had some amazing sponsors during the trip, among them were Beach Junkie swimwear by Kayleigh Ann, a gorgeous young entrepreneur and socialite from the UK. Her brand Beach Junkie is a representation of modern, young luxury. We also were fortunate enough to represent a brand called Ecoloblue. It is an atmospheric water generator created by a charming globetrotting couple who recognized the need in the world for access to efficient clean drinking water. The machines, the size of a small water cooler, creates water from the humidity in the air. Its based on the principles of collecting condensation that would build up from a humidifier and then purifying it. The result, 8 gallons of ultra pure drinking water a day. The global ramifications are astounding.
Also thanks to Kremlin Vodka, Yannick Lejeune wine distribution, Spa Des Stars, Hotel 314, Richard Nillson, Marcelo Garcia, The Anonymous, Ruby Blue Liquer, Carol S. Miller, Joan Joffa, Veronica Veronina, Danilo Giralucci, The Carlton Hotel, The Platinum Agency, Cross Fit Cannes, and Hype Productions.
I also spent a lot of time with good friend Jennifer Niejadlik, a Film Producer from Holland who has been a contributing writer for Planet Fashion many times. She was in Cannes to sell films. I was is Cannes as Press. We had so many funny and interesting experiences. More on our story later.
Look for updates and all of our Cannes roundup coverage in our upcoming June newsletter.
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