Industry Highlights – Retail Recovery in NYC, India to Take China’s Place in Retail Boom?, Free People’s UK Launch, Investcrop Acquires Georg Jensen, What Next as Luxury Growth Slows in China?

Posted on November 5, 2012

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N.Y.C. Retail on Road to Recovery

“Retailers in Midtown and downtown Manhattan began reopening Sunday as power was restored throughout most of the city and nearly 80 percent of subway service was back in operation.” (WWD)

Forget China, it’s all about India now!

“Just as luxury brands across the board, from Mulberry and Louis Vuitton to Zegna, start acknowledging the slowdown in sales in China, the erstwhile engine in luxury’s global growth, another emerging market has, well, emerged, to take its place. Enter India.” (FT)

Free People Launches in UK

“The latest brand to make the hop across the e-pond is Free People , the affordable, bohemian brand loved by Californian starlets Eva Mendes, Dakota Fanning and Vanessa Hudgens for off-duty impact.” (Telegraph)
“Georg Jensen, the lifestyle brand best known for its jewelry and home wares, has been sold by its Danish owner Axcel to Investcorp, whose former holdings include Gucci and Tiffany & Co.” (WWD)
“According to a closely watched report recently published by Bain & Company, a consultancy, and Italian luxury goods trade organization Altagamma, luxury sales growth in China has started to slow. Consumer spending on luxury apparel, accessories and other personal items is expected to climb by a relatively modest 8 percent in 2012, compared with 30 percent last year, leaving many wondering where future growth will come from.” (BoF)
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