LUXE Press

Recent industry news & press coverage of The Luxury Marketing Council and its members.

Meet the New Luxury Target Market: The Young Affluents

The Generation of 40-and-Under Consumers is the “Want-It-All” Generation That is Coming into Affluence with a Ravenous Appetite for the ‘Good Life’

STEVENS, Pa. -- (BUSINESS WIRE) -- At last month's American Express Publishing Luxury Summit in Palm Beach, keynote speaker Burton Tansky, president and CEO of Neiman Marcus, predicted, "The next generation of the affluent are the kids of baby boomers ... They grew up surrounded by comfort and excess. Within five years they will be at their peak earning years. They have high household income, and they like the good life. They are the future of luxury."

This new generation of young affluents is the subject of Unity Marketing's last research study called the Generations of Luxury. This study is luxury marketers' vital guide to understand the wants and desires of the new generation of luxury consumers in every luxury company's future.

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Luxury Institute Survey: Coach Is the Most Competitive
Brand in the Highly Profitable Luxury Handbags Category

SYS-CON Media -- Montvale, NJ, USA

NEW YORK, NY -- (MARKET WIRE) -- 05/08/07 -- The Luxury Handbags category is one of the broadest and most profitable categories for luxury fashion brands. But, which brands are most competitive in critical metrics such as unaided mindshare, purchase consideration, market share, most recent purchases and strongest future purchase considerations, as reported by wealthy consumers?

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Keynoters See No End in Sight for Luxe Boom

By Rebecca Kleinman

PALM BEACH , Fla. -- Luxury's hot, and it's only going to get hotter.

That was the message delivered to 300 attendees at the sixth annual Luxury Summit, the largest to date, presented by American Express Publishing this week at The Breakers Palm Beach.

Confident that luxury is here to stay, keynote speaker Burt Tansky, president and chief executive officer of the Neiman Marcus Group, said its magical hold has seeped into every segment -- from retailing to hospitality to transportation -- and failure to comply with the luxury consumer's whims and high service standards results in loss of business.

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World’s 50 Best Restaurants for 2007

Originally published by Restaurant Magazine and now in its sixth year, the World’s 50 Best Restaurants for 2007 have been revealed. 

1. El Bulli, Spain -- World’s Best Restaurant Best in Europe 
2. The Fat Duck, UK -- Chefs Choice 
3. Pierre Gagnaire, France  
4. The French Laundry, USA -- Best in the Americas 
5. Tetsuya’s, Australia -- Best in Australasia 
6. Bras, France  
7. Mugaritz, Spain  
8. Le Louis XV, Monaco  
9. Per Se, USA  
10. Arzak, Spain  

Click here for the full list.

Luxury Spending Increase

Blackpool Today -- Blackpool, England, UK

Consumer spending has hit £1.09 trillion per year as Britons fork out more on housing and holidays, a report out today says.

The nine per cent year-on-year rise was partly caused by people splashing out on travel and “trading up’’ to luxury goods, says market analyst Mintel.

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