CHECKOUT COUNTER: Amazon starts new
chapter | Luxury spending | Montblanc | PepsiCo
1. Amazon starts new chapter in New York
Amazon’s first New York City bookstore opened last week, marking another major move by "the great disrupter" into bricks-and-mortar retail. The Columbus Circle Amazon Books store boasts more than 3,000 titles, as well as Amazon tech products like the Echo and Kindle. It is one of two stores planned for the city. The first Amazon Books store opened in Seattle in late 2015.
2. Luxury spending back in style, says report
British and Spanish tourism, and Chinese domestic consumption will lead a rebound in European luxury spending this year, Bain & Co said in a report this week. The consultancy and Italian luxury industry association Altagamma estimate a global personal luxury goods market of €254bn-€259bn in 2017, assuming constant exchange rates, up 2%-4% from €249bn last year.
3. Montblanc keeping time with technology
Luxury watchmaker Montblanc’s Summit line of Android Wear 2.0 smartwatches has launched with five different models. Developed in conjunction with Google, the line features touch-screen display, an e-compass, heart-rate monitor, barometer and 4GB flash storage. Prices start at US$890. The brand, owned by Richemont, follows Tag Heuer in rolling out Android Wear watches as luxury stalwarts try to keep up with technology.
4. PepsiCo eyes coconut water company
PepsiCo is reportedly looking to buy All Market, the company that owns coconut water brand Vita Coco. The potential acquisition price cited by sources is less than the $1bn that the owners are after, Reuters says.