According to a release by Reuters, consultancy Bain & Co predicts World luxury sales to grow 7 to 9 percent this year and 8 percent annually for the next three years.  The Japanese market is seen as stagnant while Europe is "a very solid market", Bain partner Claudia D'Arpizio said in presenting market research on the margins of a meeting of the Altagamma industry group."We are forecasting an annual growth rate of 8 percent in the next three years," she said.

F. Scott Fitzgerald had it wrong: In a slowing economy, the rich are not that different from everyone else.

According to a recent article in the International Herald Tribune - affluent consumers, pinched by shrinking stock portfolios, falling property values and smaller bonuses, are behaving like their less-well-off peers. They are reining in spending.That portends a steeper slowdown than originally forecast for the U.S. economy, or even a recession, because the richest fifth of American households account for almost 40 percent of consumer spending, the main engine of U.S. economic growth.

However, Claudia D'Arpizio, a consultant on the luxury market and partner at Bain & Co. in Milan, said that there was not much belt-tightening at the very top of the weal... More »

The Luxury Institute has published its trends for 2008 and beyond. The organisation, which recently set out its top myths about luxury and wealth on this blog, has now set out its vision for the year ahead.

1.)  Old Guard of Luxury Passes the Baton to a New Generation.  Are They Ready for a Flat World?

       Throughout Luxurydom, the founders, family members and their trusted lieutenants who built the grand luxury behemoths and boutiques alike have begun to retire, to sell, and consider family legacy and philanthropy. The new generation of leaders who will inherit these brands must not seek to merely replicate old business models.

Attend luxury conferences and you hear th... More »

A colleague of mine was recently invited to join a new niche social network called Artipolis. After having a browse myself, I felt it was time for a review.

Artipolis, described by it's founder Alexander Galle as a "City of Art" has definitely found a solid niche that hasn't completely been fully exploited. In reality, Artipolis is a social network catering to artists and art connoisseurs worldwide who are looking for a place to network, socialize and share tidbits from the art world. I would have to boldly say, although by no means extragavant, Artipolis is an understated work of art itself. In design terms, it's simplicity is evident and works well in promoting a 'wealthy' network of hnw members. Artipolis however is by no means the first to try this sort o... More »