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Article: LUXURY SHOPS IN JAPAN RIDING ABOVE THE RECESSION.(Industry Overview)
- Article from:
- WWD
- Article date:
- April 8, 1999
- Author:
CopyrightCOPYRIGHT 1999 Conde Nast Publications, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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TOKYO -- Not all retailers here are wallowing in the recession.
While department stores and moderate chains sputter, some of the world's most luxurious brands are actually increasing their stake in recession- racked Japan, positioning to capitalize on better sales when the economy turns around.
Such designer labels as Louis Vuitton and Gucci, among others, are building new stores, intensifying marketing, and hoping the Dow's strength sparks the Nikkei Average to raise consumer confidence levels.
When the Dow cracked 10,000 last month, the Tokyo Stock Exchange also climbed, surpassing the 16,000-yen mark for the first time in seven months.
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