By Abha Bhattarai
March 22, 2013
Forget the mall. Your next clothing purchase could take place in a local hotel, hair salon or art gallery.
Washington area businesses such as the Four Seasons and the Northern Virginia Art Center have played host to designer trunk shows in recent months, as businesses look for new and unconventional ways to bring in money.
For clothing and accessories companies, the short-lived events provide an easy way to rack up sales without investing in store fronts or pop-up locations.
Click the link to read the entire article which includes several quotes from Milton Pedraza, CEO of Luxury Institute:
By Carol Morello and Ted Mellnik
February 11, 2013
High-income households account for one in every seven in the Washington region, according to new census figures that underscore how the nation’s corporate, financial and government capitals thrived during the recession.
Nationally, Washington ranked third among all metro areas with high concentrations of households in the top 5 percent, a group that begins at $191,500.
Many of the richest households are clustered in the Northeast, from Washington to Boston. The New York City suburbs around Bridgeport, Conn., including several towns that are hubs for investment firms and hedge funds, have the biggest concentration of 5 percenters. The Silicon Valley area of San Jose is second.
Click the link to read the entire article which includes a quote from Milton Pedraza, CEO of Luxury Institute:
By Annie Gowen
With plenty of two-income highly educated families, the D.C. region already has a reputation as one of the most affluent in the country. But the area is fast emerging as a home to the truly rich as well.
High-end luxury retailers are responding. Brands such as Aston Martin are expanding their operations into the area — betting, for instance, that there will be plenty of customers who can afford the $280,000 sports car James Bond drives in the movies. Nearby in Tysons, a Saint Laurent store and the high-end electric car maker Tesla are also set to open their doors.
Click the link to read the entire article which includes quotes from Milton Pedraza, CEO of Luxury Institute: