French luxury firms are seeking to increase their presence in the Gulf to help offset the impact of the global financial crisis on the sector, a group repesenting 70 top-end labels said Friday 12 June.
Just as China's "world factory" of the Pearl River Delta sees its first signs the worst of the global crisis is over, it faces a fresh threat from a drive to upgrade its rusting, low-end industrial zones.
Dubai Culture and Arts Authority said on Wednesday 10 June it was aiming to build a fashion and design district and change legislation to persuade foreign artists to take up residence in a new arts neighborhood.
Lululemon Athletica, which makes trendy yoga and workout wear, reported lower quarterly earnings on Thursday 11 June and said it expects profit to be flat in the current quarter because of the troubled economy.
The grand-daughter of Bulgaria's former communist dictator Todor Zhivkov, Socialist deputy Evgenia Zhivkova, announced Thursday 11 June that she was quitting politics to focus on her career in fashion.