Jewelry brand Damiani, announced a slowdown in revenue by 9 percent, at 107.5 million in euros, for the last 9 months which ended on the 31st of March, this year.
The South China Morning Post reports a slowdown in luxury sales in Hong Kong. What used to be a city renowned for luxury shopping, today, Hong Kong is the destination for mainland Chinese shoppers who are searching for great bargains. Shops like Zara, Topshop, and other Outlet stores are being hoarded by shoppers, of which majority are still mostly from the Mainland.
Romania- a country where basic freedoms and creativity were harshly suppressed until 1989 is now attempting to find its pace throughout capitalism. Here, the development of fashion is slow, yet promising, as the creative freedom and innovative spirit of Romanian designers are strongly materialized in their distinctive designs.
According to PriceGrabber.co.uk's latest survey which was conducted from March 12 to April 22, of this year, almost half of the respondants admitted to buy the majority of their fashion shopping online.