June 12, 2012 |
Michael Kors is making it work: Profit at the newly public luxury retailer more than tripled in the fourth quarter. The American fashion designer puts out extravagant $2,295 python satchels (other bags come in ostrich and crocodile) and $1,295 calf-hair cowboy boots but also creates more affordable $59 thong sandals as well as stylish iPhone carriers and MacBook sleeves. The high-low strategy seems to be working. Michael Kors Holdings, which had its initial public offering last year, netted $43.6 million in net income, or 22 cents a share in its fiscal fourth quarter.
January 22, 2012 |
A Pennsylvania developer spent $85 million on a Beverly Hills apartment complex it plans to turn into a luxurious extended-stay hotel. Korman Communities bought the Crescent Beverly Hills apartments from C-III Capital Asset Management. The upscale apartments at 155 N. Crescent Drive were completed in 2006. When the property reopens this summer, it will be called AKA Beverly Hills. Rent for the AKA's 88 suites will start at about $400 a night and guests must agree to stay a minimum of 30 days, Korman said.
April 2, 2014 |
Arizona home builder Taylor Morrison Home Corp. has agreed to purchase a swath of coastal Orange County land, kick starting a long-stalled development that fell victim to the recession. The builder, in a deal announced late Tuesday, said it would buy nearly 200 acres in San Clemente and start construction next year. The 308-home Marblehead development has been in the works for decades. It faced stiff opposition from environmental groups, which sought to save one of the last open spaces along the Southern California coast.
July 16, 2012 |
At this year's Comic-Con International, Warner Bros. set up a VIP-only tent so packed with luxury that some of those allowed in said it reminded them more of the Cannes Film Festival than the annual gathering of geek fans. There was little indication outside that there was anything special about the white tent that sprouted up for the first time this year. Located in between the San Diego Convention Center's Hall H, where the most popular panels for movies and TV shows are held, and the "Extra" stage where Warner touted many of its TV shows in an outdoor setting, it was surrounded by shrubbery.
February 7, 2014 |
Los Angeles-based designer and 2013 CFDA Vogue Fashion Fund runner-up JC Obando showed his fall 2014 collection in grand style Thursday night at the Academy Mansion on the Upper East Side during New York Fashion Week. And as models glided through the flower-filled halls, wearing the designer's floating, silk separates, it conjured images of bohemian socialites and artistes entertaining at home. There was no inspiration statement or run of show because, as Obando, who launched his label in 2007, explained, "When you create a brand, you no longer need show notes to explain who you are. You reach that point in your career.
November 18, 2009 |
Luxury retail chain Saks Inc. reported an unexpected fiscal third-quarter profit, its first in more than a year, after it reduced inventories and expenses to counter a sales drop. Net income was $1.93 million, or 1 cent a share, in the quarter ended Oct. 31, compared with a loss of $43.7 million, or 32 cents, a year earlier, New York-based Saks said. Revenue declined 8.5% to $631.4 million. Sales at stores open at least a year fell 10%. Revenue has dropped as consumers crimped luxury spending amid job losses and lower home values.
September 29, 1985
Luxury is fun! I do hope you will feature more and more homes of elegant opulence, of drop-dead decor. I much prefer to peek through the windows of a simply marvelous mansion than a boring, bourgeois bungalow. (Actually, the former provides many more decorating tips I can endeavor to emulate. I know for a fact that real people abide therein and thoroughly enjoy them.) Not all of us dine in our BVDs. Eunice Blauk Beverly Hills
April 15, 2014 |
Lexus is jumping into the suddenly crowded field for compact luxury SUVs. Toyota's luxury division will welcome the all-new NX compact crossover SUV later this month at the Beijing Auto Show. The vehicle will serve as an entry-level crossover, smaller in price and stature than the company's wildly popular RX. In addition to entering a new segment, the NX marks the the first time Lexus has used a turbocharged engine. PHOTOS: 2015 Lexus NX compact crossover The NX 200t will come with a 2.0-liter, turbocharged four-cylinder, Lexus said.
CALIFORNIA | LOCAL
September 12, 1992
I would like to respond to the article Aug. 21 ("Gallegly Tries to Save Oil Museum") regarding the closing of the Unocal Museum in Santa Paula. It is unbelievable that Rep. Gallegly regards a mere building to be more important than the loss of jobs. Unocal for the last year has been terminating employees by the hundreds under the guise of having to pay down the debt that they incurred beginning with the proxy fight with T. Boone Pickens in the mid-1980s. As stated in the article, Unocal spent at least $2.5 million on refurbishing the building for its 1990 centennial celebration.
October 20, 2012 |
THR Design Hollywood at the Century is the somewhat cryptic name for a simple concept: a rare look inside an exclusive, multimillion-dollar property. The design show house, opening Friday, will be staged in the same building where two years ago Candy Spelling paid $35 million for the top two floors. Plunk down $40 for a ticket and you can pass through the security gates of the 42-story, 4-acre luxury tower built by Robert A.M. Stern Architects, toss the valet your keys and ride a private elevator to the 20th floor.