Any goods whose value exceeds the threshold will be subject to a 5 percent duty, as well as an administrative fee of AED 65 (approximately USD 17). This will spur local retailers to take significant product and marketing initiatives to enhance value propositions to attract and retain consumers looking for local alternatives.

Morgan Stanley estimates, South Korea’s total spending on personal luxury goods in 2022 grew by 24% to US$16.8 billion, or about US$325 per capita. This is much higher than China’s US$55 and the US’s US$280 per capita spending.

China has officially lifted the pandemic restrictions it had in place on January 8. Cross-border travel and international tourism have been reinstated, greatly boosting the confidence of international luxury markets.

Raffles Sentosa Resort and Spa is an all-villa resort center occupying an area of more than 100,000 square meters in a tropical garden setting, and guests can enjoy a beautiful view of the South China Sea.

Although the overall growth is on the rise, the performance fell short of the previously expected growth of 6-8%.

This is not the first time LVMH Group has collaborated with Yan. Louis Vuitton, Dior, and BVLGARI have all invited Yan to create portrait pieces for them in the past.

For the first time Pitti Uomo was dedicating an exclusive space to accessories and lifestyle products designed for the animals that are closest to us.

Jason Wu Collection, Anna Sui, Snow Xue Gao, PH5, Kim Shui, Sandy Liang, Private Policy, Vivienne Tam, CHOCHENG, and Zimo

Eleven brands were selected to exhibit home decoration, classic design pieces, and innovative furniture products at the SIGN section. 

As of the close of January 17, LVMH’s stock price increased by 5.9% from the previous trading day to 797.4 euros.