Commerce

VIENNA, Austria – The CEO of Hugo Boss at the FT Business of Luxury Summit 2013 said that the quality of a brand and its name are more appealing to luxury consumers than the location in which the products are made.

VIENNA, Austria – The managing director of the Kering Luxury Division said at the FT Business of Luxury Summit 2013 that brands impact the world’s markets by creating jobs, boosting the local economy and promoting national heritage.

VIENNA, Austria – The CEO of Moët Hennessy said at the FT Business of Luxury Summit 2013 that parent company LVMH Moët Hennessy Louis Vuitton’s No. 1 measure of success for its brands is long-term results.

VIENNA, Austria – Panelists from the Financial Times, Goldman Sachs and Fulcrum Asset Management at the FT Business of Luxury Summit 2013 agreed that the United States is much closer to achieving genuine economic recovery than Europe, though luxury remains strong in both markets.

If Saks Inc. goes through with the leveraged buyout of its company, the result could either spur international growth of the retailer or hollow out the company depending on the buyer’s intentions.

Richemont is attributing its full-year sales increase to demand in China and Asia-Pacific, contributions from currencies and exchange rates and the broad growth from its brands across all regions.

Rolls-Royce Motor Cars is distinguishing its brand with the increased popularity of its bespoke service that allows customers to personalize the details and style of their vehicles.

If Neiman Marcus Group Inc.’s private-equity owners decide to launch an initial public offering of the company, it could mean more innovation and long-term growth for its department stores.

Toyota Corp.’s Lexus is prioritizing U.S. consumers by investing $360 million in its first manufacturing plant in the country that will make its best-selling vehicle.

British automaker Bentley Motors reported a 25 percent increase in units sold during the first quarter of 2013 due to the release of the Flying Spur and eight new dealerships.