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Armani Revenue Up 2.4% in 2008
(Source: LuxuryBrandNetwork.com)
The Armani Group reported that full-year 2008 revenue rose 2.4% at constant exchange rates to €1.620 billion. Eearnings before interest, taxes, depreciation and amortization (EBITDA) was down 14.7% from 2007 to €303.2 million. . . . keep reading
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Armani Breaks Ground on Milan Hotel (12/17)
(Source: LuxuryBrandNetwork.com)
Construction began earlier this month on Giorgio Armani's second hotel project. The Milan property, a collaboration between Armani and Dubai-based developer Emaar Properties, is expected to open in 2010 and will include 160 guest rooms and suites. A 2005 agreement between Emaar and Armani calls for the development of seven luxury hotels and three resorts within the next 10 years. . . . keep reading
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Dubai is Battleground for 'Couture Cribs' (12/17)
(Source: TimesOnline.com)
Dubai property developers long used to "one-upping" each other on amenities and location are increasingly partnering with "superstar" designers to differentiate. But by partnering with competing developers, Giorgio Armani, Donatella Versace, Karl Lagerfeld and Fendi are themselves competing in a "celebrity smackdown," says London's TimesOnline.com. . . . keep reading
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Louis Vuitton Abandons Plan to Build Largest Store in Japan (12/16)
(Source: Nikkei)
Louis Vuitton now says it will no longer pursue plans to build a new flagship store in Tokyo. The Ginza Tower location, to have been completed in 2010, would have been the world's largest Louis Vuitton store at 12,000 square meters (130,000 square feet) and would have rivaled impressive new Armani and Bulgari locations in Ginza. . . . keep reading
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Luxe Boomlet Continues in India
(Source: Time)
The number of Indians whose net worths exceed $1 million grew 22% last year--faster than any other Asian country, and a report by CapGemini & Merrill Lynch pegs the number of $1 million+ households now in India at 167,000. . . . keep reading
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