Luxury

Abercrombie & Kent

Industry
Luxury
States
IL
Country
UK
Sources

"Luxury travel company Abercrombie & Kent offers magical, 12 day journey to Islamic republic" (Inside Hook, "Where to Go Next: Iran," 5/11/2017).

--

Promotes a tour called "Wonders of Persia" on its company website.

--

One luxury tour company in the U.S. is promoting a new trip to the country for those willing to take the risk, describing it as the first opportunity to see an Iran opening up to the West after last year's nuclear deal. "We feel that Iran is one of the most exciting places that someone can travel to at this point in time, given the current climate in the country and what sort of changes have been taking place recently," said Stefanie Schmudde, product manager of Americas and Middle East for the Downers Grove, Illinois-based tour company Abercrombie & Kent... Abercrombie & Kent has planned its first Iran trip in early May, leaving just ahead of the country's presidential election. They say that interchange between American tourists and the Iranian people will help bridge the gap between the two nations. "I would not hesitate to send anybody," Schmudde said. "It's a very exciting destination that's really and truly on the cusp of change." (AP, "Visit Iran? US tour company says yes, despite recent arrests," 11/11/2016)

Roberto Cavalli

Industry
Luxury
Country
Italy
Sources

"Italian fashion house Roberto Cavalli said on Friday it had opened its first shop in Iran following the lifting of sanctions there earlier this year. Rich in natural resources and with a young, well-educated population of about 80 million, some analysts think Iran could be a potential goldmine for luxury goods companies. Roberto Cavalli is among the first Italian brands to strike out in Tehran with a store dedicated to its own label - the model favoured over department store concessions by many luxury fashion companies as it allows them to control their image and relationship with customers. The store, with 350 square metres of floors made of brown quartzite mixed with crystal dust, decked out with ponyskin carpets, sells women's, men's and children's clothing and eyewear. 'We think Iran is set to become a very interesting market for luxury products,' Cavalli CEO Renato Semerari said... Leather goods maker Piquadro opened in a Tehran shopping centre last year. Dolce & Gabbana, striking away from its usual form-fitting creations, launched a hijab and abaya collection in January, but declined to comment on whether it planned to do more business in Iran." (Reuters, “Roberto Cavalli opens first shop in post-sanctions Iran,” 2/19/2016)

Piquadro

Industry
Luxury
Symbol
BIT: PQ
Country
Italy
Sources

"Italian fashion house Roberto Cavalli said on Friday it had opened its first shop in Iran following the lifting of sanctions there earlier this year. Rich in natural resources and with a young, well-educated population of about 80 million, some analysts think Iran could be a potential goldmine for luxury goods companies. Roberto Cavalli is among the first Italian brands to strike out in Tehran with a store dedicated to its own label - the model favoured over department store concessions by many luxury fashion companies as it allows them to control their image and relationship with customers. The store, with 350 square metres of floors made of brown quartzite mixed with crystal dust, decked out with ponyskin carpets, sells women's, men's and children's clothing and eyewear. 'We think Iran is set to become a very interesting market for luxury products,' Cavalli CEO Renato Semerari said... Leather goods maker Piquadro opened in a Tehran shopping centre last year. Dolce & Gabbana, striking away from its usual form-fitting creations, launched a hijab and abaya collection in January, but declined to comment on whether it planned to do more business in Iran." (Reuters, “Roberto Cavalli opens first shop in post-sanctions Iran,” 2/19/2016)

Versace

Industry
Luxury
Country
Italy
Sources

"Italy on Wednesday became the first European country to take steps to help its fashion industry build a stronger presence in Iran following the lifting of Western sanctions. The two countries signed an agreement during a two-day visit by Italian Prime Minister Matteo Renzi with a delegation of business leaders to increase trade between Italy and Iran and reinforce industrial cooperation. The deal was signed by the National Textiles and Fashion Association Sistema Moda Italia (SMI), which represents a sector worth more than 52 billion euros ($59 billion) in revenues, and its Iranian counterpart the Tehran Garment Union (TGU). It aims to cut red tape and make it easier for Italian companies to obtain the TGU licence required to operate in Iran. Some analysts estimate the oil-rich Islamic Republic of nearly 80 million people has more than 3 million high net worth individuals who are major and regular buyers of luxury goods. 'Iran could be an interesting expansion market, probably worth about 2 per cent of the global luxury market, once developed,' Exane BNP Paribas analyst Luca Solca said... Setting up businesses in Iran is also no easy task, executives and consultants say, due to a lack of appropriate retail infrastructure, high tariffs and banking restrictions. A lack of enforcement of international trademark protection agreements also means Iran is flooded with counterfeits. Italian firms appear to have adopted a more proactive attitude than their French luxury and fashion rivals. Versace is due to open a flagship boutique in Tehran soon, in franchise with a local commercial partner." (Reuters, “Italy's fashion industry signs deal to build ties with Iran,” 4/13/2016)

Lalique

Industry
Luxury
Country
France
Sources

"Italy on Wednesday became the first European country to take steps to help its fashion industry build a stronger presence in Iran following the lifting of Western sanctions. The two countries signed an agreement during a two-day visit by Italian Prime Minister Matteo Renzi with a delegation of business leaders to increase trade between Italy and Iran and reinforce industrial cooperation. The deal was signed by the National Textiles and Fashion Association Sistema Moda Italia (SMI), which represents a sector worth more than 52 billion euros ($59 billion) in revenues, and its Iranian counterpart the Tehran Garment Union (TGU). It aims to cut red tape and make it easier for Italian companies to obtain the TGU licence required to operate in Iran. Some analysts estimate the oil-rich Islamic Republic of nearly 80 million people has more than 3 million high net worth individuals who are major and regular buyers of luxury goods. 'Iran could be an interesting expansion market, probably worth about 2 per cent of the global luxury market, once developed,' Exane BNP Paribas analyst Luca Solca said... Setting up businesses in Iran is also no easy task, executives and consultants say, due to a lack of appropriate retail infrastructure, high tariffs and banking restrictions. A lack of enforcement of international trademark protection agreements also means Iran is flooded with counterfeits. Italian firms appear to have adopted a more proactive attitude than their French luxury and fashion rivals. Some French brands such as the family-controlled handbag maker Longchamp and crystal maker Lalique, are looking for distribution partners but have no plans to open boutiques. 'For us Iran is a new region to conquer,' said Lalique Chief Executive and controlling shareholder Silvio Denz, who has been opening new markets for the brand's crystal jewellery and home wear items over the past decade.    One of the first big French companies to invest directly in Iran is LVMH's cosmetics retailer Sephora. It is in talks to open two to three shops in Teheran by the autumn, in partnership with an Iranian partner and the Middle Eastern luxury goods distributor Chalhoub, a source close to LVMH told Reuters." (Reuters, “Italy's fashion industry signs deal to build ties with Iran,” 4/13/2016)

Camicissima

Industry
Luxury
Country
Italy
Sources

"Italy on Wednesday became the first European country to take steps to help its fashion industry build a stronger presence in Iran following the lifting of Western sanctions. The two countries signed an agreement during a two-day visit by Italian Prime Minister Matteo Renzi with a delegation of business leaders to increase trade between Italy and Iran and reinforce industrial cooperation. The deal was signed by the National Textiles and Fashion Association Sistema Moda Italia (SMI), which represents a sector worth more than 52 billion euros ($59 billion) in revenues, and its Iranian counterpart the Tehran Garment Union (TGU). It aims to cut red tape and make it easier for Italian companies to obtain the TGU licence required to operate in Iran. Some analysts estimate the oil-rich Islamic Republic of nearly 80 million people has more than 3 million high net worth individuals who are major and regular buyers of luxury goods. 'Iran could be an interesting expansion market, probably worth about 2 per cent of the global luxury market, once developed,' Exane BNP Paribas analyst Luca Solca said... Setting up businesses in Iran is also no easy task, executives and consultants say, due to a lack of appropriate retail infrastructure, high tariffs and banking restrictions. A lack of enforcement of international trademark protection agreements also means Iran is flooded with counterfeits. Italian firms appear to have adopted a more proactive attitude than their French luxury and fashion rivals. In February, Florence-based fashion house Roberto Cavalli opened its first shop in Iran, in the footsteps of leather goods maker Piquadro and men's shirt company Camicissima." (Reuters, “Italy's fashion industry signs deal to build ties with Iran,” 4/13/2016)

Caran d'Ache SA

Industry
Luxury
Symbol
SW: CARN
Country
Switzerland
Sources

Has an Iran website.

--

"Caran d’Ache SA, a century-old Swiss maker of writing instruments, supplied Iranian school children with pencils before the 1979 Islamic Revolution. Now, it’s betting on a partnership with a pistachio exporter to make a comeback in the country of 77 million. Used by artists including Pablo Picasso, the maker of colored pencils and pastels reopened for business in Iran last year... The Swiss company’s pens, pencils and colors are sold in stores of Iran’s Daya Group together with a range of other products, such as Swiss watches. Alliances with large local groups such as Daya, which operates in businesses ranging from consumer goods to healthcare and is also an exporter of pistachio nuts, are opening up doors for companies such as Caran d’Ache... Iran is currently the family-owned pencil maker’s third-largest market in the Middle East and sales growth of 25 percent is expected in 2016 and the next two years, according to Chief Executive Officer Jean-Francois de Saussure. The CEO was part of a business delegation that accompanied Swiss President Johann Schneider-Ammann on a trip to Tehran in February." (Bloomberg, “Swiss Pencil Maker Counts on Nut Exporter for Iran Comeback,” 5/3/2016)

Christie's Auction House

Industry
Luxury
Symbol
LN:CHRS
States
CA
FL
MA
NY
PA
TX
Country
UK
Contact Information
Sources

“Iran is negotiating with the leading international auction house Christie's to hold sales inside the Islamic republic to support its blossoming art scene, it was reported on Monday. Dubai, across the Gulf from south Iran, is currently a hotspot for emerging contemporary Iranian artists as well as collectors, hosting the London-based auction house's biannual sales events. Iranian artists have fetched top dollar in those auctions. Quoted by the official IRNA news agency, Culture Minister Ali Janati said negotiations with Christie's are under way to hold auctions at Iran's Gulf resort Kish Island. ‘The close distance to Dubai has allowed Iranian artists -- who can afford the travel costs -- to present their work there,’ Janati said, noting that local auctions could attract a bigger audience. The art scene in Tehran, although considered a lightweight in global standards, is expanding with the country's nouveau riche buying big, observers say. In July 2013, Iran held its first ever contemporary art auction, with 80 sales totalling almost $2 million (1.4 million euros). That came after several prominent artists sold work at regional fairs. Renowned sculptor Parviz Tanavoli sold a piece for more than $2.8 million at a Christie's sale in 2008 -- an auction record for any Middle East artist. An art collector, who spoke to AFP on condition of anonymity, welcomed Janati's comments which he said would ‘send the right signal of encouragement to many up and coming artists.’ But he was also sceptical of the practicalities. ‘Can an Iranian auction really stand against Dubai when it comes to attracting big names and money?’ he asked.” (AFP, “Iran says in talks to hold Christie's auctions,” 5/6/14)