This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

4 Trends in Luxury Goods for 2013

SAN DIEGO ( TheStreet) -- What will the world's richest people will be treating themselves to this year? Expensive cars? Luxury travel? Or perhaps opulent real estate?

All of the above, according to Mickey Alam Khan, editor-in-chief of the trade publication Luxury Daily, which produces Luxury FirstLook, the annual summit of executives representing the world's leading luxury brands that starts today in New York.

"It's a tale of two worlds. There's the world you and I live in and the world they live in," Alam Khan says. "You're talking about 10 million people around the world who are truly high-net-worth individuals and who support a luxury lifestyle come rain or shine."

Here's a few of the trends in luxury spending for 2013:

Luxury travel and hotels: Think very customized and very expensive experiences that only a few can afford. For the truly well-heeled, pampering in 2013 could include the Beverly Wilshire Hotel's new Diamond Life Infusion facial. The 60-minute, $295 facial uses diamond dust to combat aging. The Beverly Wilshire is the only hotel in the U.S. being allowed by the facial's manufacturer to offer the treatment.

Apparel: Clothing that's "made in America" is in demand among the luxury consumer set. But the world's wealthiest individuals will be buying American-made items that are made of "only the best," explained Alam Khan. Brands such as Ralph Lauren (RL - Get Report) and Brooks Brothers, he said, will be marketing "premium" made in America clothing based on local craftsmanship and superior, local materials.

Luxury cars: High-end automobile sales are experiencing tremendous growth and will continue to do so in 2013. "The luxury automotive segment is going gangbusters. It's completely divorced from what's happening on Main Street. BMW and Rolls-Royce are posting record gains," Alam Khan says. Things are going so well that Rolls-Royce is introducing a model in 2013 -- a big deal for a manufacturer that rarely launches lines. Representatives for the carmaker, whose typical client has a net worth of between $5 million and $30 million, were tight-lipped about details of the model. But even getting a chance to see the car will be reserved for a select few. Unless you're planning to attend the Geneva Motor Show in March for its official unveiling, the primary exposure in the U.S. will be through a series of small, invitation-only events.

Real estate: And finally, expensive real estate will be on the shopping list for the world's biggest spenders this year. Luxury real estate is booming. "In places like New York, skyscraper after skyscraper is going up and properties are going for $80 million to $90 million," Alam Khan says. "There's a complete explosion of luxury houses across major metropolitan areas like New York, Miami and Chicago." And there's no shortage of customers, he said.

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free
RL $93.21 0.00%
AAPL $93.74 0.00%
FB $117.58 0.00%
GOOG $693.01 0.00%
TSLA $240.76 0.00%


Chart of I:DJI
DOW 17,773.64 -57.12 -0.32%
S&P 500 2,065.30 -10.51 -0.51%
NASDAQ 4,775.3580 -29.9330 -0.62%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs