Zara has opened its first boutique in Egypt. The brand, of the Spanish giant Inditex, has installed itself in the Star Centre in Cairo, a shopping centre described as one of the largest in the Middle East with its five hundred stores.
Fashion accessory and jewelry retailer Claire's Stores Inc posted a narrower first-quarter loss on a 10 percent revenue decline on Thursday 11 June, and warned that sales are getting worse in the second quarter.
You've "never had it so good," British Prime Minister Harold Macmillan told the first generation of mass-market consumers in 1957. "You may never have it so good again," appeared to be the message of many of executives and analysts at the Reuters luxury goods and retail summits.
From breeding their own crocodiles to tapping new low-cost centers for raw materials, luxury retailers are stepping up efforts to improve sourcing of goods, labor and expertise in the global economic slowdown.