Luxury Thrives in Cities Amid Global Economic Slowdown


BLOOMBERG BUSINESS Sept. 14 — Robert Burke of Robert Burke Associates discusses the impact of the global slowdown on the luxury goods market. He speaks on “Bloomberg Surveillance.”

Luxury business is still booming while global economies are shaky. Chinese tourism and shopping exists, but it is on a decline.

Luxury folks travel to multiple residents and aren’t wed to a particular city.

Robert Burke Associates clients include Saks Fifth Avenue, Taubman (former owners of Woodfield Mall), Almana Group, and Style Avenue Middle East.

Bergdorf Goodman is a luxury goods department store based on Fifth Avenue in Midtown Manhattan in New York City. There are actually two store buildings across the street from each other at Fifth Avenue between 57th and 58th streets. Bergdorf is a subsidiary of Neiman Marcus, which is owned by the private equity firms TPG Capital and Warburg Pincus.

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