Alexandra Wilkis Wilson took her 5th Avenue fashion sense to the world wide web, and the result – members-only designer discount site Gilt Groupe – is changing the way luxury retail is done. She sat down with TILE to talk about the online sample sale phenomenon, and to share some advice about buying designer.
Archive for the ‘Travel’ Category
Gilt Free Luxury: Gilt Groupe’s Co-Founder Talks with TILE
Monday, March 7th, 2011Brazil’s Carnival Burns Up… Literally
Thursday, February 17th, 2011“(Reuters) – A large fire swept through Rio de Janeiro’s Carnival center on Monday, destroying thousands of costumes and floats and throwing preparations for Brazil’s annual festival of hedonism into chaos.”
Best Quote
“The only thing that didn’t burn was our desire to parade.” – Helinho de Oliveira
What do you think?
Can you imagine how much money this cost the people of Brazil? There’s the cost of costumes and floats, plus the time and labor it took to make them, there’s the destruction of people’s property and belongings (including wallets full of cash and credit cards), and then there’s the big event… Will there be as many tourists and money-spending revelers this year?
Volkswagon Wows With 300MPG Car
Thursday, February 10th, 2011“Volkswagen has made a car it says can travel 313 miles on a gallon of diesel, and that emits just 24 grammes of carbon dioxide per kilometre travelled.
The XL1, which seats two adults, combines a 0.8 litre two cylinder diesel engine with an electric motor. The car is constructed around a carbon fibre reinforced polymer monocoque to reduce the weight to just 795 kilos. German rival BMW is also making an electric carbon fibre car, while Mercedes is to make carbon fibre parts.”
What do you think?
What influences your taste in cars?
Americans Open Wallets Wider Than They Have In Three Years
Wednesday, February 2nd, 2011
The financial times they are a’changing. At least, that’s what these new statistics would have us believe…
- In 2009, the American GDP (gross domestic product – a measurement of economic activity) dropped more than it had in sixty years. But like a phoenix made up of economic statistics, it rose back up in 2010.
- We can’t know the exact cause, but the numbers say that people earned a little more, saved a little less, and spent a little more than they had in recent years.
- Since consumer spending makes up almost three-quarters of all economic activity in the U.S., this is good news. But there are still those issues around high unemployment and a trashed housing market…
Facts & Figures
- Consumer spending represents 70% of all economic activity in the U.S.
- In 2010, spending rose by 3.5% – 0.7% of that was in December alone
- The last time spending rose that high was in 2007 (pre-recession)
What do you think?
Have you been spending more lately? Do you think the economy will recover faster depending on where you spend your money (at independent stores versus chains)?
(Check out this week’s Today at TILE for a closer look at signs of life in the economy.)
That Custom-Made Suit Is Going To Cost You
Wednesday, January 12th, 2011
credit: John_Brennan
If you’re not sure what inflation looks like in real life, try asking your tailor. Having suits and dresses made to order in Hong Kong or Singapore used to be the secret to looking good on a budget. But all that is starting to change. Here’s why:
1. Inflation! The apparel industry has been safe from inflation for a long time, but fabric today is more expensive than it was a few years ago. In 2010 alone, the price of cotton in Hong Kong went up by 91%. More expensive materials = a more expensive product.
(And because inflation generally raises prices across the board, tailors are demanding higher wages so they can keep up with the cost of everyday living.)
2. Consumer demand! More people have the money to order custom clothing these days, and tailors and materials are in short supply. That means more work for tailors, and a higher price tag for customers. In other words, the supply of materials and producers has stayed the same, but the demand for finished products has increased. When demand exceeds supply, you’ve got a price increase on your hands.
New Prices:
- A custom suit made in Singapore with expensive luxury fabric runs about $5,400. A similar suit by an Italian producer might cost $10,000.
- In 2009, a custom shirt from Singapore cost $177; today it would cost about $330.
“We’re so busy that we’re having to turn some people away.” – Mark Cho, Co-Founder of The Armoury in Hong Kong
What You Should Know Before You Budget
Monday, January 3rd, 2011
Credit: apium
Sticking to a budget is more or less like sticking to a diet: It sucks, and you’re almost guaranteed to fail.
BUT! There’s another way. With a few simple tricks, you can take control of your spending and avoid feeling guilty all the time. Here’s what Tara Siegel Bernard from the New York Times has to say:
- Let the robots take control. Set up automatic transfers to your savings and investment accounts. It only takes a few minutes. If your savings is being automatically transferred out of your spending account every month, you don’t have to worry about spending it!
- Start at the finish line. What are you saving for? Saving is easier when you have a goal in mind (a vacation, a new car, an obscenely expensive pair of shoes). Figure out how much money you need and you’ll know how much money to have automatically transferred each month.
- Separate the fun money from the serious money. If you have a phone bill or rent to pay, keep that money separate from the money you plan to squander irresponsibly at the mall. Obviously.
- Brace yourself for big surprises. One of the easiest ways to muck up your budget is to suddenly spend a lot of money you hadn’t planned for. This one’s easy, though. Put a little extra away somewhere each month. You can use that to cover your surprise expenses without feeling like a total budgeting loser.
Best Quote:
“Ultimately, what we want our money to be is an energy source. It should help us get somewhere or do something.” – Amanda Clayman, Financial Therapist (only in New York!)
The Hobbit Lives In New Zealand!
Wednesday, October 27th, 2010New Zealand wants the new Hobbit films to be shot within its borders so badly that it’s changing labor laws to make it happen.
- Just when it seemed the J.R.R. Tolkien film adaptation industry was moving to New Zealand for good, Warner Bros. almost pulled its latest project – a two-part adaptation of The Hobbit – out of the country.
- After an actors’ union boycott threatened production, Warner Bros. management flew to New Zealand to discuss whether the movie could be made there or not. Thousands of Hobbit fans took to the streets to protest.
- New Zealand’s government responded swiftly, promising Warner Bros. additional tax breaks on future movies, setting up a joint marketing deal, and changing the country’s labor laws to “clarify the differences between a contract worker and a movie production employee.”
Facts & Figures
- The Hobbit film project is worth about $500 million to New Zealand.
- Losing the film could have meant up to a $1.5 billion loss.
- “The Hobbit,” by J.R.R. Tolkien, was first published in 1937.
Best Quote
“Making the two Hobbit movies here will not only safeguard work for thousands of New Zealanders, but it will also follow the success of the “Lord of the Rings” trilogy in once again promoting New Zealand on the world stage.” – John Key, Prime Minister of New Zealand
Hotel Owners Not Sure About Online Review Sites
Monday, October 25th, 2010Well, that’s not entirely true. Hoteliers with happy customers are reaping the benefits of increasingly visible recommendations. But not every hotel has happy customers…
- The popular hotel review resource TripAdvisor.com is facing lawsuits from hotels claiming the site is bad for their businesses.
- Anyone can post an anonymous review of a hotel on the site. TripAdvisor argues that this makes for the most honest reviews, but opponents say it creates a protected space for libel and defamation. Sites like TripAdvisor are usually exempt from these accusations because they just publish reviews – they don’t write or edit them.
- TripAdvisor typically doesn’t remove old or inflammatory reviews, but it does allow hotel owners to post responses to negative reviews. In response to the popularity and influence of these review sites, consulting firms have sprung up promising to monitor and control online customer feedback.
Facts & Figures
- There are 35 million hotel reviews on TripAdvisor.com.
- TripAdvisor was sued in 2009 over a review that claimed the owner of a hotel restaurant was seen buying drinks for a prostitute.
- Revinate, a San Francisco image protection firm, charges hotels hundreds of dollars a month to track online reviews.
Best Quote
“We have pretty happy customers, so something like TripAdvisor works in our favor.” – Niki Leondakis, President and CEO of Klimpton Hotels
Holiday Airfares Rebounding From 2009
Monday, October 18th, 2010The airline industry hasn’t had it easy in many, many years. But now that things are starting to look up in the economy, airlines are happily finding themselves with more paying customers paying more for their tickets.
- The airline industry is finally recovering from the blows dealt by 9/11 and the global economic crisis… which means higher ticket prices for everyone.
- This holiday season – the biggest travel season of the year – customers can expect to see fare increases of 7% to 18% over last year’s prices.
- Because many travelers have been avoiding flying to save money, recent optimism about the economy is catapulting them back into airports. At the same time, airlines haven’t increased the number of routes or planes in their fleets.
Facts & Figures
- The airline industry lost $58 billion between 2001 and 2009.
- For the first time in 10 years, 86.3% of all available seats were filled on major airlines in June.
- An estimated 41 million Americans will fly this November and December.
Best Quote
“It’s all about supply and demand. When people want to travel, it’s going to be more expensive.” – Tim Smith, Spokesman for American Airlines
In Exhibition Soccer Matches, Everyone Wins
Wednesday, October 13th, 2010Practice in new climates isn’t the only reason teams are playing in distant locales.
- More and more, national soccer teams are playing exhibition games (called “friendlies”) in unusual places, often far from home.
- The practice is basically a money-maker for everyone: the agents that manage a team’s exhibition games try to maximize profit for the teams, the game broadcasters, and sponsors. They manage to make a pretty neat profit for themselves, too.
- Teams are sent to play friendly matches wherever they’ll get the biggest audience – live or on television. Brazil recently played a friendly in Derby, England that was viewed live by only 13,088 fans but broadcast to 120 different countries.
Facts & Figures
- In October, Argentina traveled to a friendly match in Japan, Chile traveled to Oman, and Brazil played Iran in Abu Dhabi.
- Since June 2007, only one of Brazil’s 18 exhibition games has been played in Brazil.
- As a result of their deal with sports rights agency Kentaro, the Brazilian soccer federation receives approximately $3 million.
Best Quote
“This is the new landscape of international football. Friendly games used to be a chance to try out new players or different formations. Nowadays they’re about making money, which means going wherever you’ll get the biggest audience.” – Tony Cottee, Football Analyst and Former Player for the England National Team