Canada

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It was interesting to note that in their latest issue of High Net Worth, the folks at Ledbury Research included snapshots of what they call “over-looked markets”: ie, markets that could provide luxury brands with potential windfalls if only they were smart enough to exploit them.

And what are these possible profit centres? Canada and Australia.

In the latter, the population of ultra-high net worth individuals (UHNWIs) – people with more than $30m – grew by 6.7 per cent in 2012 to 3,350 and “their combined wealth rose 5.1 per cent to $410bn”. While in the former there are 4,660 UHNWIs, 44 per cent of which live in Ontario. So why this sudden boom in millionaires? Well, it’s commodities: oil, gas and mining. These countries are rich in them, and even tertiary industries (banking) are benefiting. Read more >>

I had a very interesting conversation with a Calvin Kleiner this morning as we were waiting for the company’s pre-collection show to start. He had just come back from their latest store opening — at a mall in Toronto.

“Toronto?” quoth I, dubiously. “Is that a big market for Calvin Klein?” Read more >>