It’s not often that a city known for its 7 a.m. breakfast meetings and workaholic residents also gains renown as a premier party town. Yet in Medellin, Colombia, the paradox begins to make sense very late on a raucous Friday night, when I find myself in a packed nightclub discussing the finer points of entrepreneurialism and urban planning between shots of 60-proof aguardiente. And that’s before I’m hugged by a mustachioed dwarf in a mariachi outfit.
Luxury-goods companies should brace for weaker growth in 2012 as Europe’s sovereign debt crisis leads to a slowdown in spending, according to Gianluca Brozzetti, chief executive officer for designer Roberto Cavalli.
Roberto Cavalli SpA, the Italian fashion house known for its animal-print designs, said sales in its own stores grew at least 10 percent in the second quarter, while wholesale orders for spring 2011 showed “a positive trend.”