FRANKFURT — Surveys of industrial managers released Tuesday showed that growth could be slowing in China and Germany, raising questions about whether two of the world’s most dynamic economies could continue to underpin global output and compensate for weakness in the United States and the rest of Europe.
The data do not yet point to a recession in the fragile euro zone, economists said, and indicate only a moderate cooling of torrid Chinese growth. And several analysts noted that the economic indicators were actually less negative than many had expected. Nonetheless, it has become increasingly clear that Europe cannot expect to grow its way out of the sovereign debt crisis, which has become a weight on the world economy.
(continuted)
Source: New York Times
Thursday, September 1, 2011
Sunday, August 28, 2011
The Growing Landscape of Luxury Brands
Even with global market turmoil, luxury brands continue to grow in the hospitality sector with brands such as Armani and Bulgari to cite just two examples.
Reviewing luxury goods consumption in China during 2006, the data showed 12% of worldwide sales worth US $6 billion in a market amounting to some US $50 billion per year, according to Goldman Sachs.
The Chinese are extremely adept at high level "theatre" in their presentation and merchandising of luxury goods. So far, none of the indicators that I've seen show any sign of diminished sales except for the United States Department of Energy ban on the sale of luxury showers that use more than 9.5 Liters of water per minute. This ban took place in July of 2010. At this time, the World Luxury Association (WLA) predicts that China will become the world's largest consumer of luxury goods in 2012 with more than 29% of total sales. If things continue as predicted, China will overtake Japan.
Currently, in the first five months of 2011, China’s share of the luxury goods market was 27 percent, according to the WLA. I expect that we will continue to see globalization, consolidation, diversification, and much more theatre and drama in this market sector.
Reviewing luxury goods consumption in China during 2006, the data showed 12% of worldwide sales worth US $6 billion in a market amounting to some US $50 billion per year, according to Goldman Sachs.
The Chinese are extremely adept at high level "theatre" in their presentation and merchandising of luxury goods. So far, none of the indicators that I've seen show any sign of diminished sales except for the United States Department of Energy ban on the sale of luxury showers that use more than 9.5 Liters of water per minute. This ban took place in July of 2010. At this time, the World Luxury Association (WLA) predicts that China will become the world's largest consumer of luxury goods in 2012 with more than 29% of total sales. If things continue as predicted, China will overtake Japan.
Currently, in the first five months of 2011, China’s share of the luxury goods market was 27 percent, according to the WLA. I expect that we will continue to see globalization, consolidation, diversification, and much more theatre and drama in this market sector.
Subscribe to:
Posts (Atom)