Russians Enjoy Luxury Fair in Moscow
All signs are pointing to the fact that Russians are becoming wealthier and wealthier and are spending to prove it. According to the Moscow Times, the Extravaganza-2007 event held in Moscow last week was a true success. The event was a chance for companies with designer, high-end, luxury, and unique goods and services to show off their products in the up and coming rich Russian marketplace.
The Russian market is a large and quickly-growing one, but some vendors have not yet figured out how to accommodate this new market, as they have focused more on the Asian market in recent ye
ars. Still the products that appeal to the overall luxury market is about the same. Product categories for the event included luxury cars, gourmet food, art, aviation, wealth management, jewelry, and more. According to a RAK Properties press release, "The exhibition is an important event for high net worth individuals and their professional advisers in Russia, seeking to invest locally and internationally." Properties all over the world were represented at the event, ranging from around $7-$15 million. While properties are available all over, Russia investors seem to have the most interest in homes on the Mediterranean and in London.
With luxury brands now catering to more than just Europeans and Americans, it will be interesting to see how they manage to provide the type of service and products each market craves.
Labels: luxury cars, real estate, Russia
Luxury Brands Experiencing Popularity Increase Among Teens
Teens all over the world are becoming more and more aware of designer brands, causing those brands to react as any good business would. The marketing firm Fuse says many luxury brands are responding to increased teen fashionista interest in their brands by hiring young starlets like Lindsay Lohan (Dooney & Bourke) and Kiera Knightly (Chanel). The brands themselves are less concerned than they used to be, Fuse says, about making sure a store's atmosphere is to the liking of anyone who might step in it. It's all about the teens and making it the perfect experience for them.
Recognizin
g that these teens are the future market, the luxury houses such as Louis Vuitton and Prada have come out with smaller and less expensive items such as key chains and coin purses to satiate the desire to have one of their products. Some brands have started entirely new lines for their young luxury-hungry clientele. The strategy is a good one that gives these young people the feeling of status and can start what will hopefully become a case of long-term brand loyalty.
Photo 1: Andrea Bruce, Washington Post
Labels: luxury, shopping, teens
Fly in Luxury, Stay in Luxury, and Now Drive in Luxury
Customers in various destinations around the world can travel from destination to destination on holiday in real style thanks to Elite Rent-A-Car. The company, appropriately named, has become popular among wealthy travelers, especially in Europe. Customers can choose from a wide array of options including Porsche, Ferrari, Aston Martin DB9 Volante, and Rolls-Royce. Prices for these luxury vehicles are certainly higher than renting a non-luxury car, as one would expect. For example, one can rent an Aston Martin DB9 Volante for 1500€ per day or a Maserati for 950€ per day The more than 350 cars are available in 15 agencies in nine
countries. What a way to travel in style on your next trip to Monaco, Prague, Paris, Rome, or Porto Cervo.
Before you can rent, however, you need to prove that you're at least 30 years of age and you must present two credit cards to pay in advance of the rental itself. Customers should beware that there is a hefty price to pay should there be damage done to the car. It's best to purchase insurance with it should the w
orst case scenario arise.
If you don't feel like driving yourself and taking that risk, you can always hire a chauffeur and limousine with Elite.
Labels: car rental, Elite Rent-A-Car, luxury cars, luxury travel
Vietnamese Clients Represent New Luxury Market
Major luxury brands have an unexpected new sector to focus on these days. With excessive wealth and exorbitant spending happening in some of the most surprising places, high fashion designers are now seeing a trend in heavy spending from customers in southeast Asia, specifically Vietnam. People are surprised by this new trend based on Vietnam's historical tendency toward a "less is more" attitude and its frowning upon ostentatious displays of wealth.
But people with significant wealth no longer subscribe to such a way of thinking. These shoppers are having no qualms about spending tens of thousands of dollars on everything from handbags to clothing to jewelry. Some say that this is due to free-market
reforms and courting foreign investors introduced by the government some 20-plus years ago, which has had significant positive effects on individual wealth. These reforms were of course a vast change from what had been a closely micromanaged economy. Over the years, these reforms have had an impact on the way the Vietnamese view consumption and has even brought on new preferences toward western styles and attitudes.
However, the people who are not enjoying such wealth are rather bitter about the "gratuitous" spending. Dao Quang Hung, a Hanoi taxi driver, stated, "The money they spend on a Louis Vuitton bag could buy several cows for a farmer's family and lift them out of poverty." According to the AP, however, "...60 percent of Vietnamese born after 1975 are very optimistic about the future - and determined to enjoy the here and now" contrary to "the war generation that wasted nothing and always saved for the future."
For now, the debate on individualism that has the country divided will surely continue for now, as will the spending increase by those who have the means.
Labels: luxury, luxury goods, Vietnam
Companies Seeking Ways to Offset Carbon Footprints
In an industry that's largely targeted for its enormous amount of emissions, some say for a questionable end, many companies are feeling the pressure to do their part to offset their negative impact. When you think of the most emission-producing industries, the airline industry is probably one of the first that comes to mind. So what about the private jet industry? Many celebrities who have championed global warming action have been criticized for not "walking the walk" because they often travel via private jet. While it's a luxury not everyone can afford, many of those who are guilty of flying privately generate the emissions of the annual average of a medium-sized family. This of course has environmental groups outraged.
However, it should come as no surprise that many of these private jet companies are jumping on the bandwagon and making an effort to offset those carbon footprints in many ways, one of
which is requiring an often minimal supplemental payment (less than 1% of the flying cost per hour to fly carbon neutral). Given the prices of the prices of the flights themselves, this would rarely deter anyone wanting to take that private flight.
One inventive way some of these jet companies have been offsetting their emissions is by having their clients purchase
TerraPasses, which funds clean energy projects that reduce greenhouse gas emissions. It is an inventive way to offset each person's emissions. Companies and clients are both happy because they can now feel a little better about making that private luxury flight.
Labels: green, jet, luxury, luxury travel, travel
New Mothers Offered Their Own Piece of Luxury
New mother's in the Lavender Bay area of Australia have a new luxury destination made just for them. The Mother's Retreat at Lavender Bay invites new mums to come rest in a peaceful quiet place with their new babies. The creators of the concept recognized that giving birth had become too much of a drive-thru process, with an unhealthy amount of that "hurry up and get back to normal" attitude. Most mothers are simply sent home within a day to handle the new baby with no help, no guidance, and almost no rest.
At the Mother's Retreat, they are, as stated on the web site, "dedicated to supporting, educating and assisting mothers in becoming competent and confident in the care of their new babies. The combination of assistance from our highly experienced staff and some well-earned pampering in the beautiful tranquil environment of The Retreat ensure that every new mother will leave our care rested, refreshed and very confident."
The staff includes post-natal midwives, lactation consultants and mothercraft nurses advice in feeding, settling and all other aspects of the care of her precious new baby. General practitioners and pediatricians are available, should any medical assitance be needed for any Retreat guests.
With all the pampering you can imagine during your stay, a single night at the Retreat costs $1300. Partners are not included in the invitation to stay right away, though may be as time evolves.
Each of the 12 rooms have Harbour Bridge views and there is a gourmet chef to prepare the meals. There is even a beauty salon with a resident trained beautician. One beauty treatment is included in a 2-day package. New mothers will surely leave here rested as every last detail down to the linens and the toilet paper has been selected with comfort for new mothers in mind.
Labels: Australia, children, luxury
Hotel Particulier in Paris: Something to Experience
Travellers to the City of Light may recently have noticed a new choice in lodging in the category of lux
ury or boutique hotels. Hotel Particulier in Montmartre has many recent travellers to Paris completely smitten with its charm and seclusion from the Paris bustle, all while being well-placed in the artsy Montmartre area.
The hotel invites you to stay in one of its five uniquely decorated suites, all with different themes, and all decorated by artists, designers, sculptors and architects commissioned by concept-artists Morgane Rousseau and Frédéric Comtet. The five unique rooms are now known as : Curtain of hair, Window, Poems and hats, Vegetable Room, and Tree with ears.
The former mansion is surrounded by lush gardens that can be viewed from every window in the hotel. The public rooms are just as charming as the suites and just as interestingly decorated. You will find two sitting rooms, a reading room with an extensive collection, especially on subjects such as design, photography, architecture, etc. According to the hotel's site, the hotel dining room, which is available for private dinners, is a charming place where "guests can [host] their friends with an especially elaborated menu by a renowned chef. Authentic furniture, works of Baroque Art, antiquities and contemporary pieces have been gathered by the owners. They contribute to give this space a memorable atmosphere. The dining room opens up to a green terrace decorated by a water fountain which rustles poetically."
This hotel, only open since Summer 2007, is getting many wonderful write-ups and reviews, and travellers would be wise to plan in advance to ensure getting a piece of this wonderful experience.
Labels: boutique, hotel, luxury, Montmartre, Paris
Champagne Supply May Not Always Meet Demand
We all know that Champagne can only be called Champagne because it was made in Champagne, France... correct? Well, recent word from that region indicates that we may not always have the luxury of splurging for that fine bottle of sparkling wonder since demand has been hitting all-time highs. The irony of it? French law mandates that one cannot call any sparkling wine Champagne unless it was actually made in the Champagne region. Those lawmakers didn't seem to think demand would ever reach such heights that they would consider calling other sparkling French wine by the name we've come to equate with luxury and celebration.
If we consider the rapid economic growth taking place in countries like China and Russia, it's not hard to see where the shortage is stemming from. According to South African web site Serious About Wine, China has seen an annual sale increase of 30 times the norm. In addition, the people who are enjoying the financial benefits of this economic upswing are becoming more and more comfortable with their new means, and spending to prove it.
This increase in demand of course could turn disastrous should a bad harvest year occur. And with all the unpredictability of weather due to global warming, who knows when and to what degree that might strike one day. And what might happen if people are discouraged by higher prices due to limited supply? Will they find another sparkling wine from elsewhere in the world to enjoy and ultimately choose instead? Unlikely, says Serious About Wine. Champagne's marketers have done a superb job at keeping the name associated with "the good life" and exclusivity. For now, Champagne lovers may want to keep their own small stock aside just as the distributors are doing in order to ensure at least some future availability.
Labels: champagne, France, luxury, wine
England's Wealth Boom is Opportunity for Luxury Goods Companies
According to London's The Business magazine, there is a key demographic that luxury goods
sellers should be following closely. There has recently been a big boom in wealth in England, and the spending habits are showing it... £1.5 billion on designer items in one year. It seems the number of people in England earning more than £100,000 per year is growing at an average of 10% per year. The article states that Ledbury Research, a consultancy group, "estimates that the growth of this high-earning elite accelerated further to 11% last year, taking its numbers to around 500,000 in 2006."
Most of these people are showing their wealth by spending on fine things from
cars to jewelry to vacations. While good taste does not come with those larger pay checks, many are said to be making a stronger effort to impress and stand out. But what is to explain this continuous growth in the wealthy British population? The Business claims that there has not only been a jump in enterpreneurs in London, but also the so-called "boom" in London, and "also by top lawyers, accountants, GPs and even teachers."
Shoppers will continue to seek high-end goods as long as this boom lasts, and designers would be wise to keep a close eye on this successful group.
Labels: london, luxury, money success, wealth
Trips for a Cause
In honor of October being Breast Cancer Awareness month, Elite Travel International has come up with a unique way to let you have your cake and let others eat it with you. The travel group is offering some of its luxury vacations under the program
Trips for Pink. So what does this have to do with Breast Cancer Awareness month? When you book one of these luxury vacations, The Breast Cancer Research Foundation will receive a $200 donation from Elite Travel International.
Unlike many philanthropic 'we'll donate money to a cause if you buy one of our products' partners that often have limited options, Elite Travel offers vacations to beautiful South Africa, New Zealand, Thailand and more... Prefer to move around a bit? Book one of their cruises in the South Pacific, Greece, or even Central America.
Does it really make a difference, you wonder? Absolutely. The 2007
Trips for Pink campaign, has raised $90,000 for the Breast Cancer Research Foundation!
Labels: breast cancer, cause, luxury travel, travel
Environmentally Friendly Luxury Cars
After noticing a lack of choices within the luxury market of eco-friendly cars, several car companies have seized the opportunity and created stylish, luxurious, and more eco-friendly cars to seduce buyers.
The ever-growing market for "green" goods and for buying from companies who care brought about the increase in interest from car makers. Most of the cars fall into the hybrid category. A hybrid-drive system is actually more of a "dual drive," with two engines instead of one including a conventional gasoline engine along with an electric motor.
One eco-friendly choice, the Tesla Roadster, is the only car on the list that is 100% battery powered. Electric motors offer higher torque than gasoline motors and are expected to become more and more prevalent in the market in the near future.
Here's a list of the top 10 according to Forbes:
Lexus RX400h
Mini Cooper Convertible
Cadillac Escalade Hybrid (2009)
Mercedes-Benz E320 Bluetec
Tesla Roadster
Audi Q7 3.0 TDI (2009)
Lexus GS450h
Lotus Exige S
Saab BioPower 100 Concept
Volvo C30
Traditional and luxury auto makers are expected to make these environmentally-friendly vehicles more mainstream as people become more aware of their vehicles' impact on the planet.
Source: Forbes
Labels: environment, luxury cars
Net worth determines luxury spending in tough times
Luxury goods manufacturers can expect to see a decline in customer spending while markets are volatile and the
U.S. dollar struggles, surveys show. Those considered to be "super rich" with net worths of over $25 million are expected to spend as usual, however.
A recent survey given to people of varying income levels (the lowest being at $500K) aimed to pinpoint the spending tendencies of these demographics. The less rich (with net worths of under $10 million) of those surveyed gave indication that they were concerned about the market volatility and would even consider changing spending habits if the market didn't start to see an upturn, said JCKOnline. A full two-thirds of respondents said they would need to make “major lifestyle changes” if the market continues to deteriorate.
The online business information site also offered the following numbers on how the "super rich" are expected to spend in the next few months:
* 98.9 percent of respondents said they will spend at least $10,000 on fine jewelry before the end of the year;
* 100 percent said they will spend at least $30,000 on leisure travel;
* 100 percent said they would spend at least $10,000 on fashion and accessories;
* 43.2 percent said they would spend at least $10,000 on home electronics; and
* 38.6 percent said they would spend at least $10,000 on watches.
While those are telling figures and hefty numbers from some of the population, real strength will come from "regular rich" going back to feeling more positively about the market.
Labels: luxury, market, money
All signs are pointing to the fact that Russians are becoming wealthier and wealthier and are spending to prove it. According to the Moscow Times, the Extravaganza-2007 event held in Moscow last week was a true success. The event was a chance for companies with designer, high-end, luxury, and unique goods and services to show off their products in the up and coming rich Russian marketplace.
ars. Still the products that appeal to the overall luxury market is about the same. Product categories for the event included luxury cars, gourmet food, art, aviation, wealth management, jewelry, and more. According to a RAK Properties press release, "The exhibition is an important event for high net worth individuals and their professional advisers in Russia, seeking to invest locally and internationally." Properties all over the world were represented at the event, ranging from around $7-$15 million. While properties are available all over, Russia investors seem to have the most interest in homes on the Mediterranean and in London.
