Alberta Ferretti has opened its first boutique in the United Arab Emirates. The luxury label, in partnership with Al Tayer Insigna, opened this store in Dubai in June on the first level of the Dubai Mall’s Fashion Avenue.
French shoppers splashed out on clothes and shoes in June, fuelling the largest rise in consumer spending since January in a sign the euro zone's second largest economy may be moving closer to recovery.
Participants in the U.S. credit derivative market are considering whether payments on credit default swaps insuring the debt of Kellwood Co will need to be made after the company last week failed to repay some of its debt.
The first Gap store in Thailand should open in summer 2010, a licensing agreement between the American group and the local distributor Armin indicated. This follows a new drop in sales for Gap Inc in June.
Almost three-quarters of some of the world's largest retailers expect the current economic downturn to impact their business for up to two more years, according to a survey from business advisory firm AlixPartners.