Word: globalization
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Dates: during 2000-2009
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Luxury sector sales almost doubled to $80.4 billion in 2008 from $44.1 billion in 2003, said Neil Hendry, global director of consulting for consumer and financial services at Datamonitor Group, a research and analytical company...
...fire-sale prices blindsided smaller boutiques and designer-owned stores, and broke an unspoken cardinal rule with fashion houses not to deep discount luxury names. (See the Style & Design: Global Luxury Survey...
...Flay or Alain Ducasse, the Peruvian chef has created destination restaurants in the otherwise gray city of Lima that gourmands flock to whenever they can, eschewing the tourist havens of Machu Picchu and Cuzco. Hailed as the "next superchef" by some magazines, Acurio now has his eyes set on global conquest. His goal: to make Peruvian cuisine as familiar around the world as Mexican, Chinese and Thai...
...same kind of moment Japan did decades ago, inventing a market where one does not exist," says Acurio. The world is a different place from the one in which Benihana first branched out of Japan and opened in the U.S. - in New York - in 1964. Tastes have become more global and transportation allows fresh produce to move from a farm in Peru to a restaurant kitchen in Europe or the U.S. in less than 24 hours, making it easy to start - and sustain - a trend...
...investments in oil, publishing, metals and television, spread out from the Gulf to Africa - are unraveling on a spectacular scale, and it is casting Hizballah in an unflattering light. The house of cards began falling earlier this month, when his businesses went bankrupt, ostensibly from the effects of the global financial crisis. But rumors swirled in the press of a pyramid scheme of more than $1 billion, and the local media dubbed Ezzeddine the Lebanese Bernie Madoff. Last weekend the Lebanese government charged him with fraud. All across the Shi'ite-populated regions of Lebanon, thousands of small investors - many...