Top 5 Global Cities To Live And Do Business In 2016 Article provided by Bayut.com When it comes to living in a foreign city, one has to consider the population, infrastructure, overall size, political context, per capita income and development path. The city’s economic growth, real estate developments and entertainment facilities also play a vital role in making decisions towards moving to a city or investing in it. Each of the cities listed below features trophy developments along with impressive mixed-use communities and have good room for growth, which is achievable through improvements in transparency, livability and business environment. 5. Being the world’s sixth most globalized city, Shanghai could become your best bet for investment in East Asia. Between 2015 and 2030, disposable incomes in Shanghai are expected to rise by over US $350 billion – more than London’s and Tokyo’s – and consumer spending may increase by more than US $250 billion. 4. 3. The city has one of the best planned and developed residential environments. 2. 1.
Britain Now World's Cheapest Luxury Market | News & Analysis | BoF LONDON, United Kingdom — In the wake of Britain's vote to leave the EU, which pushed down the value of the pound about 10 percent against the euro, the country has become the cheapest luxury goods market in the world, helping to buoy British luxury labels, at least in the short term, according to new research by Luca Solca, the head of luxury goods at Exane BNP Paribas. "The Brexit vote has made the UK the cheapest market in the world for luxury goods,” Solca told BoF. “A weak British pound will boost travel inflows to the UK, helping British luxury goods players like Burberry, Mulberry and Jimmy Choo." While luxury goods companies are not expected to raise prices in the UK in the coming months — at least until there is more clarity around exactly when and how the country might exit the EU — Britain should see a boost from tourist inflows and spending due to its weakened currency.
Retailers challenge national living wage Don-Alvin Adegeest London - While the government has thus far been successful in its policy to increase the UK's national living age, some businesses and retailers are keen for the policy, set to come into full affect by 2020, to be revised or abandoned. According to the Financial Times, 16 trade associations are challenging the policy, having written to new business secretary Greg Clark recommending he “exercise caution” on the national living wage in light of the “economic uncertainties the country faces” after the Brexit vote. The national living wage is one of George Osborne's legacy policies, to ensure over 25 year-olds earn a median income, which by 2020 would be just over 9 pounds per hour. The wage was increased as of April 1st this year to 7.20 per hour. Fashion chains, supermarkets and the hospitality sector are expecting to have to raise wages. The increase in wages will mean the minimum wage for over 25 year-olds will be the highest in the developed world and G7.
Economic contribution The direct value of the UK fashion industry to the UK economy is estimated at £26bn, up from £21bn in 2009, according to data from Oxford Economics, the consultancy, published by the British Fashion Council. This represents an increase of 22 per cent in nominal terms between 2009 and 2014. If the indirect support for supply chain industries and the induced spending of employees' wages are added in, the total contribution from the UK fashion industry is £46bn.Oxford Economics estimates that fashion’s wider contribution to the UK economy in influencing spending in other industries has risen from £37bn in 2009 to over £46bn in 2014 - a 23 per cent increase.The UK fashion industry is estimated to support 797,000 jobs (down from 816,000 in 2009 which reflects an increase in productivity in the sector). Fashion is the largest employer of all the UK's creative industries. Source: The British Fashion Industry and London Fashion Week Facts & Figures, BFC, Feb 2016. Economic Value
Fashion's Richest: Top 10 Wealthiest Moguls in H1 2016 It is no secret that fashion sells. The global fashion industry is currently valued at an astounding 3 trillion US dollars, according to FashionUnited's global statistics page, making it one of the most valued sectors in the world. The only thing which sells more than fashion, is "fast fashion", which sells in enormous, unimaginable quantities. Unsurprisingly, it is fashion moguls and entrepreneurs which now make up a large slice of the world's richest list. FashionUnited previously examined the value and assets of the industry's wealthiest billionaires and millionaires at the end of 2015. In this updated list, we take a look at what has changed over the past six months and who the top 10 richest people in the global fashion industry are now. FashionUnited's Top 10 Richest Fashion Entrepreneurs in H1 2016 One of the most remarkable changes noticeable between the two lists is that nearly every individual listed saw their overall net worth decline during the first half of 2016.
From Bankruptcy to Billions: Fashion’s Greatest Second (and Third) Acts | Int... United Kingdom — In fashion, nothing is permanent. Even when creative directors flee their posts or companies shutter their operations, opportunities for reinvention are often waiting just around the bend. Indeed, some of today's most successful fashion businesses went through years — and sometimes decades — of financial turmoil before achieving the level of global success they enjoy today. Rise: Gabrielle “Coco” Chanel opened her first store at 21 Rue Cambon in Paris in 1910. By the 1920s, the designer’s inimitable and thoroughly modern design point of view made her a fashion force. Her perfume, Chanel No. 5, which was introduced in 1921, made her a globally recognised icon. Breaking Point: In 1945, in the midst of World War II, Chanel was forced to shutter her couture house, although the company continued to produce fragrance and accessories. Rise: An icon of minimalism, Calvin Klein’s business was generating $30 million by 1977, just a decade after its founding. Related Stories:
Brexit 'means economy faces 50/50 recession chance' Image copyright Reuters The UK has a 50/50 chance of falling into recession within the next 18 months following the Brexit vote, says a leading economic forecaster. The National Institute of Economic and Social Research (NIESR) says the country will go through a "marked economic slowdown" this year and next. It says inflation will also pick up, rising to 3% by the end of next year. "This is the short-term economic consequence of the vote to leave the EU", said Simon Kirby of the NIESR. Overall the institute forecasts that the UK economy will probably grow by 1.7% this year but will expand by just 1% in 2017. This would see the UK avoid a technical recession, typically defined as two consecutive quarters of economic contraction. Mr Kirby argued that the June referendum vote had led to such financial and political uncertainty that this would bear directly on the spending and investment decisions of both businesses and households. Now, the culprit is the uncertainty following June's Brexit vote.
BHS staff face more uncertainty over closure Cartier’s $600,000 Watch Shows Risks of Extending Luxury Brands | News & Analysis | BoF GENEVA, Switzerland – For over a century, Cartier has sold elegant, if simple, timepieces such as the Tank, which starts around $2,500 – affordable by Swiss watch standards, and never confused with the level of technical finesse from brands like Patek Philippe. Then a decade ago, Cartier sought to prove its own prowess, investing millions to build one of Switzerland’s largest watch factories and bringing in an industry veteran to head a fine watchmaking unit. The jeweller delved into the segment for connoisseurs known as “complicated pieces,” which sport analog mechanisms such as calendars that adjust for leap years and require painstaking hand craftsmanship. The effort culminated last year in the Rotonde de Cartier Grande Complication Skeleton, a glass-backed confection priced at more than $600,000. But then the Chinese demand that had supported the market collapsed. For Cartier, a brand traditionally associated with jewellery for women, joining that men’s club was a stretch.
Mulberry luxury goods maker sees profit treble Image copyright Getty Images Luxury goods company Mulberry sees profits treble following switch to focus on more affordable products. The company, best known for its leather handbags, saw annual pre-tax profits in the year to 31 March jump from £1.9m to £6.2m. Mulberry has struggled in recent years as a result of the company's failed attempt to compete with higher end brands, such as Prada and Fendi. Chief executive Thierry Andretta said it had made "significant progress". Mulberry has spent the past two years introducing new designs and bringing in lower priced bags in the £500 to £800 range. This followed ill-fated efforts to compete at the top end of the market offering bags priced at £1,000 and more. However, the shake-up in strategy appears to be working. Mr Andretta said: "We have built a strong foundation for future growth as a result of the investment made in product design and development as well as our omni-channel infrastructure. "There is much more potential for growth."
Fashion e-tailer Myntra claims $1-bn sales Leading fashion brands e-tailor Myntra on Monday claimed it has crossed $1-billion (Rs.6,720 crore) in sales after discounts in July. "We have crossed $1-billion run rate in annualised GMV (Gross Merchandise Value) post discounts in July," Myntra Chief Executive Ananth Narayanan told reporters here. GMV indicates total sales in online retailing for merchandise sold through a particular marketplace over a specific timeframe. "Sales volumes were propelled by growth of our brands, increased contribution of international brands, high growth in sportswear and womenswear category and 'End of Reason' sale," said Narayanan on the occasion. The billion-dollar milestone in terms of GMV came in the month (July) when e-tailer Flipkart-owned Myntra bought e-store Jabong from the London-based Global Fashion Group for $70 million (Rs.471 crore) in cash to consolidate its position in the fashion and lifestyle segment. Bengaluru-based Flipkart acquired Myntra in May 2014 for an estimated $300 million.
Economy Of Fashion: How Different Trends Reflect The Financial State It's common knowledge fashion is cyclical in nature. The concept of “newness” in fashion doesn't refer to the premiere of a trend, but rather its revival. Why fashion cycles in this manner, however, is less obvious. One one of the most surprising factors to influence the cycle of fashion, though, is the state of the global economy. If you think about it, it makes sense. During tougher times, if you need new clothes, the focus is less on passing fads and more on classic, quality pieces worth the expenditure because they’ll last (which also aids in cutting down cost per wear). As FIT professor John Mincarelli tells ABC News, “In rough economic times, people shop for replacement clothes,” adding “basics” prevail during an economic downturn. Economist George Taylor was the first to notice the correlation between fashion and the economy; he developed the “Hemline Theory” to describe his findings. Pinterest Once the market crashed, longer skirts became de rigueur. We Heart It How? We Heart It