And for the first downturn in a while, luxury stores are far from immune.
But, as in past months, the greatest gains came for discount and luxury stores.
The biggest losers are likely to be the pricier department stores, speciality chains and luxury stores.
The pricing differential is turning luxury stores in China into loss leaders.
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The number of luxury stores in China has nearly doubled over the past five years, according to estimates from brokerage CLSA Asia-Pacific Markets.
But beneath the sheen at Terminal 3, the local and international luxury stores, the restaurants, the grandeur of scale, I noticed some shoddy, already failing construction.
Also in 2008, Kerzner completed construction of Atlantis the Palm, its resort in Dubai, with 1, 539 rooms, a water park, a marine habitat and luxury stores.
Many say there is also a change in attitude towards spending, with locals flocking to luxury stores in a way they didn't see before the quake.
And yet, these luxury stores are not found everywhere.
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The company already has a network of more than 30 luxury jewelry stores throughout the world.
Operates BMW Lifestyle retail chain in China, and, with brother Edward, controls chain of Hong Kong-listed PCD luxury department stores.
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Luxury goods stores, which performed much worse than other retailers during the recession, are recovering at an accelerated rate, New York Times reports.
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Unmistakably, almost all the salesladies in the luxury duty-free stores at the airport were Asians and spoke Mandarin.
At the end of the wide pedestrian boulevard is the San Remo Casino, reminiscent of Monte Carlo with its Rolex stores and luxury cars.
Currently, many stores are ordering more luxury items, hoping to profit with the wealthy consumers.
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They and a number of other luxury companies have opened up new stores with breakneck speed in places like Chengdu, a city in southwestern China, and Hangzhou, a city near Shanghai.
Stores in shopping districts like Myeongdong have added Chinese-speaking staff, their headquarters are using Korean celebrities popular across China and Southeast Asia in advertisements, and glitzy duty-free stores are dropping European luxury brands to give more space to Korean cosmetics chains that are less expensive but more popular in the Asian region.
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Bulgari is a global player in the luxury market relying on a network of stores in exclusive shopping areas around the world and on selected distributors.
Like all modern luxury cars today, the Tesla collects and stores data on where it is and what happens to it.
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Luxury brands that are present in the department stores are concerned that the big retailers can't provide the right kind of service and attention to busloads of tourists.
Although mid-market department stores are at saturation point, the luxury-goods business is thriving.
Think appliances, furniture, banks, department stores, chocolate bars, beer, luxury goods, etc.
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The high sales apparent in the luxury goods market strongly contrast the dismal success of apparel stores, who are having tremendous sales to get consumers in the stores.
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Department stores are gaining, with the leaders in the luxury variety as has been the trend all year.
DFS, a luxury-goods distributor whose assets include 180 duty-free stores in Asia.
Speaking of men's style, we published this in-depth story on how sites like Park and Bond and CLAD are banking on the stereotype that men don't like to shop in stores to draw an audience for full-priced luxury brands.
Two well-known luxury jewelry brands are playing a bit of musical chairs with their stores in New York.
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We expect a steady increase in the number of Coach stores as the company attracts more customers to its affordable luxury handbags and accessories.
According to Merrill's annual holiday forecast, low-end dollar stores (up 8%) and high-end luxury merchants (up 7.2%) are predicted to lead the pack in the November-December 2006 period.
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