Thailand’s government said it will scrap import duties on luxury watches, clothes and cosmetics to help the country compete with Hong Kong and Singapore for wealthy travelers from markets including China.
A prospective customer enters a high-end jewelry store and sinks into a leather couch. A sales rep hands her a glass of Champagne and an iPad packed with images of jewels for her to choose from to make a custom piece. She flips through them and, with the help of a wireless connection, flicks her creation onto an iVIP, a small table fitted with a touch screen. There, she rotates or enlarges the image. As soon as she sends it to the iVIP, it also automatically emerges on a V-Cube, a triangular display device mounted at eye level next to the table. From the luxury of the couch, she watches the V-Cube rotate 3D images of her creation. Using the iPad or iVIP, she tries it on, using an avatar instead of waiting for the real piece to be crafted.
China will widen the scope of its consumption tax to include more luxury goods, the official Xinhua News Agency reported, a sign that some high-end brands may become more expensive for purchasers on the mainland.
July 10 (Bloomberg) -- China will prohibit government agencies from buying luxury goods starting Oct. 1, Xinhua News Agency said. This is part of an effort to reduce corruption as the Communist Party celebrates the People’s Republic’s founding. (Source: Bloomberg)
Cartier, the jeweler whose customers have included the tsar of Russia and actress Elizabeth Taylor, says it’s pulling ahead of luxury rivals with watches that match the tenor of the times for less ostentatious displays of wealth.