Burberry has reported a sales surge of almost a fifth thanks to a bounceback in China, but the luxury British fashion brand has warned that London is losing out to rivals such as Paris and Milan, which are enjoying a stronger tourist shopping boom. The British fashion brand, best known for its signature check bags and raincoats, said that global sales grew 18% year on year to £589m in the quarter to 1 July – its fastest growth rate in two years. The company pointed to a strong sales recovery…
Tag: Paris
‘Ordinary’ Chinese vase valued at €2,000 sells for almost €8m after bidding war
An “ordinary” Chinese vase put up for auction in France and valued at €2,000 (£1,745) has sold for almost €8m after a ferocious bidding war among buyers convinced it was a rare 18th-century artefact. At the sale in Fontainebleau near Paris, auctioneers were astonished as the offers from about 30 mainly Chinese bidders kept on coming. When the hammer fell the vase had been sold for €7.7m – almost 4,000 times its estimated value. With the seller’s fees, the final purchase price was €9.12m. The tianqiuping-style porcelain was put in…