Word: high-end
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...That's little consolation to Ümit Boyner. The Boyner family's retailing business includes many of the world's top brands, from high-end names such as Prada and Bottega Veneta to more affordable ones like Benetton. Along with their competitors, the Boyners have been on a roll. New shopping malls have sprung up across the country, especially in Istanbul, where some of the most recent examples were deliberately aimed at upscale, upwardly mobile clients. The Boyners have fully participated in this boom; for luxury goods alone, they doubled their retail space over the past two years...
...year have been revised to well below 7%, and the effect is directly visible in the realty sector. "No one's buying anymore," says Ashwani Shukla of New Delhi-based Triveni Associates. "Two years ago, 25-year-olds earning fat pay packets from [multinational corporations] were buying high-end apartments. Now there are no takers for flats selling at 20% markdowns. Estate agents are finding it difficult to even meet daily overheads...
...Where it sits now, it is neither luxury nor low-end, and unless our financial crisis rapidly resolves itself, Am Ap will have to start leaning toward extremes in order to sustain the success to which it has grown accustomed. If it curbs its retail expansion and fully embraces high-end, it will lose a large portion of its consumer base but will gain larger support of wealthy individuals, who will still maintain their spending power despite the recession. If Charney decides to take his business the other way, he can expand his production operations, which will offer more jobs...
...other option. Unlike in Indonesia, foreigners can own condominiums outright, which explains why apartment complexes are popular in Phuket. Nonetheless, the real lure of Phuket is a villa of your own, preferably with a private infinity pool and ocean view. From 2006 to '07, at least 2,300 high-end residential units were launched in Phuket, and roughly 970 more came up for sale in the first half of this year, according to Colliers International. Prices have skyrocketed, with new buyers from India, South Korea and even Central Asia driving up demand. At the Trisara residential complex, for instance...
Need to start a war? No problem. While stock markets gyrate and financial institutions (and even whole countries, like Iceland) teeter on bankruptcy, one global industry is still drawing plenty of high-end trades and profits: weapons...