Commerce

Swiss watchmaker Zenith watches is selling its timepieces online for the first time in Britain through third-party retailer Watches of Switzerland.

Private aviation provider NetJets Inc. is planning a joint venture called NetJets China Business Aviation Ltd. to expand its services to the Chinese luxury market.

Neiman Marcus Group is looking to establish itself as a major international luxury brand by expanding to the Asian market with a new online shopping and editorial site later this year.

Russian jeweler Fabergé is polishing its online boutique experience by allowing consumers to shop products from the site for the first time.

Fully-functioning five-star resort Cap Juluca on Anguilla island will be sold at public auction by DK Realty Partners later this year to settle debt obligations that were unmet because of defaulted payments.

There has been a flurry of news related to mobile payments of late but two very important stakeholders have been mostly absent from the announcement: retailers and handset manufacturers.

Mobile banking is gaining traction and is expected to reach 50 percent of consumers by 2016, according to a new study from global business advisory firm AlixPartners.

Even though the industry as a whole did not report superlative earnings, luxury retailers came out on top at the end of 2011, indicating that the luxury shopper should continue to flourish in 2012.

NEW YORK – The new updates by Facebook this week will require a major shift in strategy for brands advertising on the platform, presenting opportunities more focused on sharing and interaction, according to a speaker from WWD’s Forum.

Luxury flash-sale site Gilt Groupe’s recent lay-offs and office closings are leading some in the luxury industry to question the longevity of the flash-sale business.