globalEDGE Blog - By Author: Parima Patel

This is probably not the best economy for European luxury brands such as Versace, Louis Vuitton, Armani, Bulgari, and Gucci. A recent report discussed the impact of Japanese consumers on these major European fashion houses. After the U.S., Japan is the next biggest market for luxury goods. Fashion houses are targeting this market to increase sales. Louis Vuitton is taking steps to form an extra special relationship with their wealthy Japanese customers. However, this strategy will not solve the loss of thousands of Japanese secretaries who used to pay off the most recent handbags in credit card installments. The European fashion houses are going to have to develop a new strategy to keep their middle class customers in Japan during these rough economic times.

Companies are starting a new trend of offering to their employees custom designed classes right inside their four walls. There is no need for employees to relocate to a university far from their home and work to take classes. This makes higher education convenient for employees who have families and other limitations. Many companies want their executives to gain skills and acquire experience in real world environments, as well as get up to date on corporate standards. At the same time, companies don’t want to disturb executives’ work schedules by sending them to colleges in distant countries.