LVMH has bought a 40 per cent stake in luxury Australian sportswear retailer 2XU with a price of 80 million through its Singaporean investment fund L Capital Asia for further expansion into foreign markets, sources reported.
Apple is expected to open its fourth store in Beijing located in China Central Place Luxury Walk in mid-December 2013.
The new Apple store has an area of 1,000 square meters. It will reportedly become the largest Apple flagship store in Beijing.
Tiffany & Co has posted a 50 per cent increase in net earnings for the third quarter of the financial year due to a growth in worldwide net sales as well as strong performance in the luxury jewellery sector in the Asia Pacific region, sources reported.