Well established in the USA, Michael Kors is tackling Europe, a “logical step of our global expansion,” said CEO John D. Idol. In 2008 the label opened its first European boutique in Milan. This year it opened its first “lifestyle” store on the 28th of February in Munich at 36 Theatiner Strasse.
Wealthy spenders are back in the shops and should help lift global luxury sales by more than 4 percent this year as the industry recovers from its worst slump ever, U.S. consultancy Bain & Co said in a study.
A group representing heirs of Howard Hughes filed an objection to a plan for General Growth Properties Inc to emerge from bankruptcy as a stand-alone company, saying it pays investors who would bankroll that plan at their expense.
Shares of Hot Topic Inc rose 14 percent in hectic trading as the teen apparel retailer said sales at its core businesses are picking up, and continued to expect strong performance at its Torrid division.
China, the world's largest cotton importer, has signed deals to import 100,000 tonnes of cotton as well as cottonseed and cotton yarn from India this year, according to a report by the China Cotton Association.
March gold imports jumped nearly six times from a year ago, a trade body head said, as pent-up demand and steady prices since January revived purchases by the world's largest consumer of the precious metal.