Luxury Goods stories:
Unit Sale Boosts PPR's Net Profit
Feb 18th, 2010 - Wall Street Journal
paris-french retail-to-luxury company ppr sa thursday reported a 6.9% rise in net profit in 2009, buoyed by the proceeds of the sale of african distribution unit cfao, and said a difficult year for retailers and the luxury goods sector had ended
Eurozone tells Greece to ready new cuts, taxes
Feb 15th, 2010 - Omaha
brussels (ap) - european finance ministers bluntly told greece on monday to prepare even tougher spending cuts and new taxes, including a tax on luxury goods and cars, to fix its debt crisis. the 16 countries that use the euro warn that greece
Hermes Sales Rise Fuels Hope Of Fresh Luxury Consumption
Feb 5th, 2010 - Wall Street Journal
paris (dow jones)--luxury goods company hermes international (rms.fr) friday fueled hopes of a gradual return of luxury consumption, particularly for the industry's most staid brands, reporting an 8.5% rise in 2009 revenue thanks an end
Google likely to win EU court battle over ads
Mar 19th, 2010 - ABC 7 News
of allowing advertisers to promote their products to customers searching for a rival's goods. software, airline, luxury goods companies and even a law firm have taken google to court in a bid to stop the practice, arguing that it hijacks their brand
February Storms Dampened Retailers' Clothing Sales
Mar 3rd, 2010 - Wall Street Journal
heavy snowfall hurt apparel retailers in february, particularly in the mid-atlantic, but receipts reveal the beginning of renewed consumer interest in mid-priced and luxury goods. clothing sales fell 1.8% last month from the same month last year
Luxury Goods videos from YouTube:
7:41Luxury Goods
Dr. Capon speaks with Ketty Maisonrouge, expert on luxury goods and adjunct professor, Columbia Business School. See also www.axcesscapon.com.
1:58A Look at Luxury Goods in a Bad Economy
Merchants are staring down the final days before Christmas, but the season so far is looking even bleaker than expected. According to research firms, fourth quarter earnings for major US retailers are expected to drop 16% from a year ago. (Dec. 20)
1:30Luxury goods step up despite crisis
The head of Estee Lauder says Russian sales are soaring, despite the financial crisis. Some economists expected consumers to go downmarket, but Moscow's top fashion retailer says there's a flight to quality.
Luxury Goods from WikiPedia:
In economics, a luxury good is a good for which demand increases more than proportionally as income rises, in contrast to a "necessity good", for which demand is not related to income.[citation needed]
Luxury goods are said to have high income elasticity of demand: as people become wealthier, they will buy more and more of the luxury good. This also means, however, that should there be a decline in income its demand will drop. Income elasticity of demand is not constant with respect to income, and may change sign at different levels of income. That is to say, a luxury good may become a normal good or even an inferior good at different income levels, e.g. a wealthy person stops buying increasing numbers of luxury cars for his automobile collection to start collecting airplanes (at such an income level, the luxury car would become an inferior good).[citation needed]
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