Indian travelers spent $34.2 billion on outbound travel in 2023, according to the World Travel & Tourism Council. But the current level of Indian travel is “minuscule” compared with what’s to come, Alan Watts, Hilton’s Asia-Pacific president, told “Squawk Box Asia” Monday. “The story for India is before us,” he said. “India outbound will be … Read more
A 21-year-old South Los Angeles man has been arrested for allegedly committing a series of armed robberies in parking lots in Los Angeles and Orange Counties, including one incident in which he is accused of shooting a victim twice outside the South Coast Plaza shopping mall. The federal criminal complaint against Oshae Pollard, a resident … Read more
While LVMH Moët Hennessy Louis Vuitton‘s Bernard Arnault remains fashion’s richest billionaire by far, Inditex founder Amancio Ortega is closing the gap. “The dynamics among the richest are an impressively precise allegory for the polarization the fashion industry has been going through for years,” management consultant Achim Berg writes in a new report analyzing Forbes’ … Read more
European luxury brands may have painted themselves into a corner by dramatically raising prices in recent years, spooking aspirational customers — and testing the resolve of devoted clients. “In a sobered-up demand environment, price increases — and higher gross margins — are a concern for all clients. For those who have been priced out for … Read more
Thailand’s same-sex marriage legislation, scheduled to come into effect in January 2025, could attract an additional 4 million tourists to the country per year, according to a report commissioned by the travel company Agoda. The report published Thursday estimates the country’s marriage equality law may increase tourism arrivals by 10%, netting the country an extra … Read more
Shoppers walk past Burberry’s Shanghai store Kevin Lee | Getty Images LONDON — Burberry is aiming to win back shoppers and boost waning sales by refocusing on heritage designs and statement pieces under sweeping revamp plans designed to revive the luxury fashion house’s ailing fortunes. The “Burberry Forward” strategic overhaul, announced Thursday, intends to reconnect … Read more
Forget the headphones, the fuzzy slippers and the espresso machine that cranks out a cold brew. Globally, three out of four Gen Zs and millennials said that rather than a physical gift, they want a fun experience or trip this holiday season, according to an Amex Trendex survey. Gift givers are listening too. Half of … Read more
Don’t tell the Mitchells the luxury market is challenged. The Connecticut-based family that operates the country’s largest collection of high-end specialty stores is making a major statement about its belief in the future of luxury retailing in the U.S. On Wednesday, the Mitchells officially opened the doors to a new Wilkes Bashford store in Palo … Read more
MILAN – Global luxury spending is expected to reach sales of nearly 1.5 trillion euros in 2024, according to the Altagamma-Bain Worldwide Luxury Market Monitor 2024 presented in Milan on Wednesday. Compared with 2023, the decrease is 2 percent, but at constant exchange rates, it represents a decrease of 1 percent and a gain of 1 percent. “Uncertainty is … Read more
LVMH-owned luxury hospitality company Belmond will launch a luxury sleeper train next year that will take travelers through the countryside of England and Wales. The Britannic Explorer will run three itineraries: one to the southwestern county of Cornwall and the other to the opposite end of England through the Lake District of Cumbria in the … Read more
